Examples of Take-over Proposal in a sentence
The Take-Over Acceleration Right shall commence at such time as is determined by the Board, provided that, if the Board approves the Take-Over Acceleration Right but does not determine commencement and termination dates regarding same, the Take-Over Acceleration Right shall commence on the date of the Take-Over Proposal and end on the earlier of the expiry time of the Option and the tenth (10th) day following the expiry date of the Take-Over Proposal.
If approved by the Board, Options may provide that, whenever the Company’s shareholders receive a Take-Over Proposal, such Option may be exercised as to all or any of the Shares in respect of which such Option has not previously been exercised (including in respect of Shares not otherwise vested at such time) by the Option Holder (the "Take-Over Acceleration Right").
For the purpose of this Clause 7.6, " Take-Over Proposal" means, a bid, or offer to acquire 20% or more of the outstanding Vendor Shares, or any proposal, offer or agreement for a merger, consolidation, amalgamation, arrangement, recapitalization, liquidation, dissolution, reorganization or a similar transaction or other business combination involving Vendor, or any proposal, offer or agreement to acquire 20% or more of the assets of Vendor.