Third Party Bidder definition
Examples of Third Party Bidder in a sentence
The Contributors shall, and shall cause the Group Companies to, immediately terminate any existing discussions with respect to any Potential Transaction and request that all confidential information relating to any of the Group Companies provided to any Third Party Bidder in connection with a Potential Transaction be promptly returned or destroyed.
Prior to the commencement of the bidding, each of Parent and the Third Party Bidder shall enter into an escrow agreement with the Escrow Agent, which shall provide that until the completion of the Auction, information as to amounts held in each such account must be held in confidence and only be made available to Parent or the Third Party Bidder (as the case may be) and a Person mutually agreeable to Parent and the Company (the “Independent Person”), who would agree to hold this information in confidence.
Bids would be submitted to the Independent Person at the time and place established by the Independent Person who would agree to hold the bid confidential until the bids of both Bidders were received, at which time the Escrow Agent would verify that funds in at least an amount necessary to satisfy such bid had been deposited in the respective Bidder’s escrow account and notify the Company, Parent and the Third Party Bidder of the amounts of the bids.
In no event shall the Company (i) be required to update any information provided to the Investor pursuant to the immediately preceding sentence or (ii) provide to any Third Party Bidder any information regarding the Company or its Subsidiaries that is not subject to a customary confidentiality agreement.