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Subsidiaries in connection with such transaction, (D) the amount of reserves reasonably established by the Borrower or any of its Subsidiaries in good faith in accordance with GAAP against any adjustment to the sale price or any liabilities (other than any taxes deducted pursuant to clause (C) above) (x) related to any of the applicable assets and (y) retained by the Borrower or any of its Subsidiaries including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction; provided that if the amount of such reserves exceeds the amounts charged against such reserves, then such excess, upon the determination thereof, shall then constitute Net Proceeds, and (E) any payments made on a ratable basis (or less than ratable basis) to holders of non-controlling interests in non-wholly-owned Subsidiaries as a result of such Asset Sale. \u201cNon-Cash Charges\u201d: as defined in the definition of \u201cConsolidated EBITDA.\u201d \u201cNon-Consenting Lender\u201d: any Lender that does not approve any consent, waiver or amendment that (i) requires the approval of all affected Lenders in accordance with the terms of Section 11.1 and (ii) has been approved by the Majority Lenders. - 19 - Active.28128860.17", "hash": "4f862ba50b0c779442d512a46ab727d5", "id": 10}], "next_curs": "CmkSY2oVc35sYXdpbnNpZGVyY29udHJhY3RzckULEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIlbWluaW11bS1hY2NlcHRhbmNlLWNvbmRpdGlvbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "definition": {"size": 57, "snippet": "means, in relation to an Offer, an Acceptance Condition of not less than 75 per cent. of the issued ordinary share capital of the Target on a fully diluted basis (assuming exercise in full of all options, warrants and other rights to require allotment or issue of any shares in Target, whether or not such rights are then exercisable).", "title": "Minimum Acceptance Condition", "id": "minimum-acceptance-condition", "examples": ["If the Offeror acquires less than 95% and decides, in its sole discretion, to waive the <strong>Minimum Acceptance Condition</strong>, the Offeror has indicated that it intends to utilise any legal measures available to it in order to acquire full ownership of Royal Reesink (e.g. an asset transaction, statutory (cross border) merger or de-merger, contribution of assets and/or cash against issue by Royal Reesink of additional shares).", "The Offeror is not obliged to extend the Offer if the condition of the Offer as set out in Section 2.6 (<strong>Minimum Acceptance Condition</strong>) of this Offer Document is not fulfilled by the Closing Date(s).", "The completion of such Mandatory Offer shall be conditioned upon the satisfaction of a <strong>minimum acceptance condition</strong> of a number of Shares equal to at least 50.1% of all Shares held by the Mandatory Offer Shareholders (the <strong>Minimum Acceptance Condition</strong>).", "Acquiror reserves the right to require that any or all of the Offer Conditions (other than the <strong>Minimum Acceptance Condition</strong>) be satisfied as a pre-condition to the making of the Offer.", "The Parent shall, if waiving the <strong>Minimum Acceptance Condition</strong> and completing the Offer in accordance with this paragraph (c), on the date of the announcement of the outcome of the Offer, initiate the process of converting sufficient options in the Target owned by the Parent to shares required in order to become the owner of shares representing not less than 90 per cent.", "The Offeror intends to reserve the right to revise the <strong>Minimum Acceptance Condition</strong> to a figure lower than 90% but above 50%, subject to approval from SIC, and will ensure that the revised Offer, if approved by SIC, remains open for another fourteen (14) days following any such revision.", "Provided that the <strong>Minimum Acceptance Condition</strong> has been satisfied and to the extent permitted under applicable Law, within three (3) months of the Offer Closing Time the Bidder (or a permitted assignee of the Bidder pursuant to Section 16.1(a) hereof) shall launch a squeeze out process in accordance with Article 110 of the Icelandic Takeover Act for any remaining Marel Shares that were not acquired in the Tender Offer (the \u201cSqueeze Out\u201d).", "The Offer will not be declared unconditional unless the <strong>Minimum Acceptance Condition</strong> has been met.", "Ensure that the Scheme Documents or, if the Target Acquisition is effected by way of a Takeover Offer, the Offer Documents, contain all the material terms and conditions of the Scheme or Takeover Offer, as applicable and, in the case of a Takeover Offer, ensure that the conditions to the Takeover Offer include an Acceptance Condition set at a level at not less than the <strong>Minimum Acceptance Condition</strong>.", "Acceptances of the Offer will only be treated as valid for the purposes of the <strong>Minimum Acceptance Condition</strong> if the relevant requirements of Note 2 on Rule 28.1 of the Code are met."], "related": [["acceptance-condition", "Acceptance Condition", "Acceptance Condition"], ["extension-minimum-condition", "Extension Minimum Condition", "Extension Minimum Condition"], ["minimum-acceptable-price", "Minimum Acceptable Price", "Minimum Acceptable Price"], ["minimum-condition", "Minimum Condition", "Minimum Condition"], ["performance-condition", "Performance Condition", "Performance Condition"]], "related_snippets": [], "updated": "2026-03-14T06:33:37+00:00"}, "json": true, "cursor": ""}}