Common use of Other Negotiations Clause in Contracts

Other Negotiations. Following the date hereof and ------------------ until termination of this Agreement pursuant to Section 9.1, RTI will not (and it will not permit any of its officers, directors, employees, agents and Affiliates on its behalf to) take any action to solicit, initiate, seek, encourage or support any inquiry, proposal or offer from, furnish any information to, or participate in any negotiations with, any corporation, partnership, person or other entity or group (other than Mpath) regarding any acquisition of RTI, any merger or consolidation with or involving RTI, or any acquisition of any material portion of the assets of RTI, or any acquisition of any capital stock of RTI, or any material license of RTI Proprietary Rights (any of the foregoing being referred to in this Agreement as an "Acquisition Transaction") or enter into an agreement concerning any Acquisition Transaction with any party other than Mpath. If between the date of this Agreement and the termination of this Agreement pursuant to Section 9.1, RTI receives from a third party any offer or indication of interest regarding any Acquisition Transaction, or any request for information regarding any Acquisition Transaction, RTI shall (i) notify Mpath immediately (orally and in writing) of such offer, indication of interest or request, including the identity of such party and the full terms of any proposal therein, and (ii) notify such third party of RTI's obligations under this Agreement (without any reference to Mpath). Notwithstanding the foregoing, nothing in this Section 5.6 shall be construed to restrict the ability of the RTI Board of Directors to take such actions in connection with any proposed Acquisition Transactions that such Board reasonably determines in good faith to be required to permit it to discharge properly its fiduciary duties, provided that this qualification shall in no way affect the obligations -------- of RTI and the RTI Board of Directors pursuant to Section 5.1.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Mpath Interactive Inc/Ca), Agreement and Plan of Merger (Mpath Interactive Inc/Ca)

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Other Negotiations. Following the date hereof Unless and ------------------ until termination of this Agreement shall have ------------------- been terminated pursuant to Section 9.1ARTICLE IX hereof, RTI will not neither EVG nor any Shareholder will, directly or indirectly, (and it will not permit any of use its best efforts to assure that its officers, directors, employees, agents affiliates and Affiliates legal, accounting and financial advisors do not on its behalf tobehalf) take any action to solicit, initiate, seek, encourage or support any inquiry, proposal or offer from, furnish any information to, or participate in any negotiations with, any corporation, partnership, person or other entity or group (other than Mpathnegotiations with PhotoLoft) regarding any acquisition of RTIEVG, any merger or consolidation with or involving RTIEVG, or any acquisition of any material a portion of the stock or assets of RTI, or EVG. EVG agrees that any acquisition of any capital stock of RTI, or any material license of RTI Proprietary Rights (any of the foregoing being negotiations referred to in this Agreement Section 5.3 (other than negotiations with PhotoLoft) in progress as an "Acquisition Transaction") of the date hereof will be suspended during the period referred to above and that, in no event, will EVG accept or enter into an agreement concerning any Acquisition Transaction with any such third party other than Mpathregarding matters contemplated herein during such period. If between the date of this Agreement EVG and the termination Shareholders represent and warrant that they have the legal right to terminate or suspend any such pending negotiations with third parties, including, but not limited to, any pending negotiations with Guild.com. EVG will notify PhotoLoft immediately after receipt by XXX (xx xny of this Agreement pursuant to Section 9.1its officers, RTI receives from a directors, employees, shareholders, affiliates or advisors) of any unsolicited proposal for, or inquiry respecting, any third party any offer or indication of interest regarding any Acquisition Transaction, acquisition transaction or any request for nonpublic information regarding in connection with such a proposal or inquiry or for access to the properties, books or records of EVG by any Acquisition Transactionperson or entity that informs EVG that it is considering making, RTI shall (i) notify Mpath immediately (or has made, such a proposal or inquiry. Such notice to PhotoLoft will be made orally and in writing) of such offer, indication of interest or request, including writing and will indicate in reasonable detail the identity of such party the person making the proposal or inquiry and the full terms and conditions of any such proposal therein, and (ii) notify such third party of RTI's obligations under this Agreement (without any reference to Mpath). Notwithstanding the foregoing, nothing in this Section 5.6 shall be construed to restrict the ability of the RTI Board of Directors to take such actions in connection with any proposed Acquisition Transactions that such Board reasonably determines in good faith to be required to permit it to discharge properly its fiduciary duties, provided that this qualification shall in no way affect the obligations -------- of RTI and the RTI Board of Directors pursuant to Section 5.1or inquiry.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Brightcube Inc)

Other Negotiations. (a) Following the date hereof and ------------------ until termination of this Agreement pursuant to Section 9.1, RTI IRF will not (not, and it will not permit any of its officers, directors, members, employees, agents representatives (including, without limitation, accountants, attorneys, investment bankers or investors), agents, advisors and Affiliates (on its behalf directly or indirectly through another person to) take any action to solicit, initiate, seek, encourage or support or take any other action designed to facilitate any inquiry, proposal or offer from, furnish any information (including this Agreement) (each, an “IRF Representative”) to, or participate in any negotiations with, or afford access to the properties, books or records of IRF to any corporation, partnership, person or other entity or group (other than MpathABE) regarding any acquisition of RTIIRF, any merger or consolidation with or involving RTIIRF, or any acquisition of any material portion of the IRF Units or assets of RTI, or any acquisition of any capital stock of RTI, IRF or any material license of RTI IRF Proprietary Rights (any of the foregoing being referred to in this Agreement as an "Acquisition Transaction") or enter into an agreement concerning any Acquisition Transaction with any party other than MpathABE. If between IRF will, and will cause each IRF Representative to, immediately cease and cause to be terminated all discussions and negotiations, if any, that have taken place prior to the date of this Agreement and hereof with any parties with respect to any proposed Acquisition Transaction other than the termination of this Agreement pursuant to Section 9.1, RTI receives from a third party any offer or indication of interest regarding any Acquisition Transaction, or any request for information regarding any Acquisition Transaction, RTI shall (i) notify Mpath immediately (orally and in writing) of such offer, indication of interest or request, including the identity of such party and the full terms of any proposal therein, and (ii) notify such third party of RTI's obligations under this Agreement (without any reference to Mpath)Merger. Notwithstanding the foregoing, nothing contained in this Section 5.6 5.9 shall be construed prevent IRF from furnishing information to, affording access to restrict its properties, books and records to or entering into discussions or negotiations with, any person that makes an unsolicited and bona fide proposal with respect to an Acquisition Transaction after the ability date hereof if, and only to the extent that, IRF’s board of the RTI Board of Directors to take such actions in connection directors, after consulting with any proposed Acquisition Transactions that such Board reasonably its financial advisor, if any, and legal counsel, determines in good faith that (i) such proposal constitutes a Superior Proposal (as defined in subsection (d) below) and (ii) such action is necessary for IRF’s board of directors to be required to permit it to discharge properly comply with its fiduciary dutiesduties under applicable law; provided, that, prior to furnishing information to, affording access to its properties, books and records to, or entering into discussions or negotiations with such person, IRF receives from such person an executed confidentiality agreement with terms no less favorable to IRF than those contained in the Confidentiality Agreements and IRF provides ABE with any such information that has not previously been provided that this qualification shall in no way affect the obligations -------- of RTI and the RTI Board of Directors pursuant to Section 5.1ABE.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Advanced BioEnergy, LLC)

Other Negotiations. Following the date hereof and ------------------ until termination of this Agreement pursuant to Section 9.1, RTI Target will not (and it will not permit any of its officers, directors, employees, agents and Affiliates on its behalf to) take any action to solicit, initiate, entertain, seek, encourage or support any inquiry, proposal or offer from, furnish any information to, or participate in any negotiations with, any corporation, partnership, person or other entity or group (other than MpathHearMe) regarding any acquisition of RTITarget, any merger or consolidation with or involving RTITarget, or any acquisition of any material portion of the assets of RTITarget, or any acquisition of any capital stock of RTITarget, or any material license of RTI Target Proprietary Rights (any of the foregoing being referred to in this Agreement as an "Acquisition TransactionACQUISITION TRANSACTION") or enter into an agreement concerning any Acquisition Transaction with any party other than MpathHearMe. If between the date of this Agreement and the termination of this Agreement pursuant to Section 9.1, RTI Target receives from a third party any offer or indication of interest regarding any Acquisition Transaction, or any request for information regarding any Acquisition Transaction, RTI (an "ACQUISITION PROPOSAL") Target shall (i) notify Mpath HearMe immediately (orally and in writing) of such offer, indication of interest or request, including the identity of such party and the full terms of any proposal therein, and (ii) notify such third party of RTITarget's obligations under this Agreement (without any reference to MpathHearMe). Notwithstanding the foregoing, nothing in this Section 5.6 shall be construed to restrict the ability of the RTI Target Board of Directors to take such actions in connection with any proposed Acquisition Transactions that such Board reasonably determines in good faith based upon written advice of counsel to be required to permit it to discharge properly its fiduciary duties, provided PROVIDED that this qualification shall in no way affect the obligations -------- of RTI Target and the RTI Target Board of Directors pursuant to Section 5.1.

Appears in 1 contract

Samples: Merger Agreement (Hearme)

Other Negotiations. Following (a) IALB shall not, and shall cause the date hereof and ------------------ until termination Bank to not, during the term of this Agreement pursuant to Section 9.1Agreement, RTI will not (and it will not permit any of its officersdirectly or indirectly, directors, employees, agents and Affiliates on its behalf to) take any action to solicit, initiate, seek, encourage or support facilitate inquiries or proposals or enter into any inquiry, proposal or offer from, furnish any information agreement with respect to, or initiate or participate in any negotiations withor discussions with any person or entity concerning, any corporationproposed transaction or series of transactions involving or affecting IALB or the Subsidiaries (or the securities or assets of the foregoing) that, partnershipif effected, would constitute an acquisition of control of either IALB, or the Subsidiaries within the meaning of 12 U.S.C. §1817(j) (disregarding the exceptions set forth in 12 U.S.C. §1817(j)(17)) and the regulations of the Federal Reserve Board thereunder (each, an “Acquisition Proposal”), or furnish any information to any person or other entity proposing or group seeking an Acquisition Proposal. (other b) Notwithstanding the foregoing, in the event that IALB’s Board of Directors determines in good faith and after consultation with outside counsel, that in light of an Acquisition Proposal, it is necessary to provide such information or engage in such negotiations or discussions in order to act in a manner consistent with such Board’s fiduciary duties, IALB’s Board of Directors may, in response to an Acquisition Proposal which was not solicited by or on behalf of IALB or the Bank or which did not otherwise result from a breach of Section 7.5(a), subject to its compliance with Section 7.5(c), (i) furnish information with respect to IALB or the Bank to such person or entity making such Acquisition Proposal pursuant to a customary confidentiality agreement that is no less restrictive than Mpaththe Confidentiality Agreement between IALB and First Merchants and (ii) participate in discussions or negotiations regarding any acquisition such Acquisition Proposal. In the event that IALB’s Board of RTIDirectors determines in good faith and after consultation with outside counsel, any merger that the Acquisition Proposal is a Superior Acquisition Proposal (as defined below) and that it is necessary to pursue such Superior Acquisition Proposal in order to act in a manner consistent with such Board’s fiduciary duties, IALB may (A) withdraw, modify or consolidation otherwise change in a manner adverse to First Merchants, the recommendation of IALB’s Board of Directors to its shareholders with or involving RTI, or any acquisition of any material portion of the assets of RTI, or any acquisition of any capital stock of RTI, or any material license of RTI Proprietary Rights (any of the foregoing being referred respect to in this Agreement as an "Acquisition Transaction"and the Merger, and/or (B) or terminate this Agreement in order to concurrently enter into an agreement concerning with respect to such Superior Acquisition Proposal; provided, however, that IALB’s Board of Directors may not terminate this Agreement pursuant to this Section 7.5(b) unless and until (x) ten (10) business days have elapsed following the delivery to First Merchants of a written notice of such determination by IALB’s Board of Directors and during such ten (10) business-day period, IALB and the Bank otherwise cooperate with First Merchants with the intent of enabling the parties to engage in good faith negotiations so that the Merger and other transactions contemplated hereby may be effected and (y) at the end of such ten (10) business-day period IALB’s Board of Directors continues reasonably to believe the Acquisition Proposal at issue constitutes a Superior Acquisition Proposal. A “Superior Acquisition Proposal” shall mean any Acquisition Transaction with Proposal containing terms which IALB’s Board of Directors determines in its good faith judgment (based on the advice of an independent financial advisor) to be more favorable to IALB’s shareholders than the Merger and for which financing, to the extent required, is then committed or which, in the good faith judgment of IALB’s Board of Directors, is reasonably capable of being obtained by such third party, but shall exclude any party other than Mpath. If between Acquisition Proposal the terms of which were made known to IALB’s Board of Directors prior to the date of this Agreement Agreement. (c) In addition to the obligations of IALB set forth in Section 7.5(a) and the termination of this Agreement pursuant to Section 9.1(b), RTI receives from a third party any offer or indication of interest regarding any Acquisition Transaction, or any request for information regarding any Acquisition Transaction, RTI IALB shall (i) notify Mpath immediately (advise First Merchants orally and in writing as soon as reasonably practicable of any request (whether oral or in writing) for information or of any inquiries, proposals, discussions or indications of interest (whether oral or in writing) with respect to any Acquisition Proposal, the material terms and conditions of such offer, indication request or Acquisition Proposal and the identity of interest the person or requestentity making such request or Acquisition Proposal. IALB shall keep First Merchants reasonably informed of the status and details (including amendments or proposed amendments) of any such request or Acquisition Proposal, including the identity of such party and the full terms status of any proposal therein, and (ii) notify such third party of RTI's obligations under this Agreement (without discussions or negotiations with respect to any reference to Mpath)Superior Acquisition Proposal. Notwithstanding the foregoing, nothing in this Section 5.6 shall be construed to restrict the ability of the RTI Board of Directors to take such actions in connection with any proposed Acquisition Transactions that such Board reasonably determines in good faith to be required to permit it to discharge properly its fiduciary duties, provided that this qualification shall in no way affect the obligations -------- of RTI and the RTI Board of Directors pursuant to Section 5.1.7.6

Appears in 1 contract

Samples: And Iab Merger Agreement

Other Negotiations. Following the date hereof and until ------------------ until termination of this Agreement pursuant to Section 9.1, RTI Target will not (and it will not permit any of its officers, directors, employees, representatives (including, without limitation, accountants, attorneys, investment bankers or investors) agents and Affiliates on its behalf directly or indirectly through another person to) take any action to solicit, initiate, seek, encourage or support or take any other action designed to facilitate any inquiry, proposal or offer from, furnish any information to, or participate in any negotiations with, any corporation, partnership, person or other entity or group (other than MpathAcquiror) regarding any acquisition of RTITarget, any merger or consolidation with or involving RTITarget, or any acquisition of any material portion of the stock or assets of RTI, or any acquisition of any capital stock of RTI, Target or any material license of RTI Target Proprietary Rights (any of the foregoing being referred to in this Agreement as an "Acquisition Transaction") or enter into an agreement concerning any Acquisition Transaction with any party other than MpathAcquiror. If between the date of this Agreement and the termination of this Agreement pursuant to Section 9.1, RTI Target receives from a third party any offer or indication of interest regarding any Acquisition TransactionTransaction (an "Acquisition Proposal"), or any request for information regarding any Acquisition Transaction, RTI Target shall (i) notify Mpath Acquiror immediately (orally and in writing) of such offer, indication of interest or request, including the identity of such party and the full terms of any proposal therein, and (ii) notify such third party of RTITarget's obligations under this Agreement (without any reference to Mpath)Agreement. Notwithstanding the foregoingimmediately preceding sentence, nothing in this Section 5.6 if an unsolicited Acquisition Proposal, or an unsolicited written expression of interest that can reasonably be expected to lead to an Acquisition Proposal, shall be construed to restrict received by the ability of the RTI Board of Directors of Target, then, to take such actions the extent the Board of Directors of Target believes in connection good faith (after consultation with any proposed Acquisition Transactions its financial advisors) that such Acquisition Proposal would, if consummated, result in a transaction more favorable to Target's stockholders from a financial point of view than the transaction contemplated by this Agreement (any such more favorable Acquisition Proposal being referred to in this Agreement as a "Superior Proposal") and the Board reasonably of Directors of Target determines in good faith to be required to permit after consultation with outside legal counsel that it to discharge properly its fiduciary duties, provided that this qualification shall in no way affect is necessary for the obligations -------- of RTI and the RTI Board of Directors of Target to comply with its fiduciary duties to stockholders under applicable law, Target may furnish in connection therewith information and take such other actions as are consistent with the fiduciary obligations of Target's Board of Directors, and such actions shall not be considered a breach of this Section 5.6 or any other provisions of this Agreement; provided, however, that Target shall not, and shall not permit any of its officers, directors, employees or other representatives to agree to or endorse any Acquisition Proposal unless Target shall have terminated this Agreement pursuant to Section 5.19.1(g) and paid Acquiror all amounts payable to Acquiror pursuant to Section 9.3(d). Target will keep Acquiror fully informed of the status and details of any such Acquisition Proposal.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Loudeye Technologies Inc)

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Other Negotiations. Following the date hereof and ------------------ until Closing or termination of this Agreement pursuant to Section 9.1Agreement, RTI will as the case may be, BSRT and Sellers shall not (and it will not permit any of its they shall instruct their respective officers, directors, trustees, employees, representatives, agents and Affiliates on its behalf not to), directly or indirectly, (i) take any action to solicit, initiate, seek, or encourage (including by way of furnishing non-public information), or support take any inquiryother action to facilitate, any inquiries or the making of any proposal that constitutes, or offer frommay reasonably be expected to lead to, furnish an Acquisition Proposal (as hereinafter defined), including, without limitation, any information Superior Proposal (as hereinafter defined), or (ii) participate in any discussions or negotiations regarding an Acquisition Proposal, or otherwise cooperate in any way with respect to, or assist or participate in any negotiations withor facilitate, any Acquisition Proposal with any person, corporation, partnershipentity or "group," as defined in Section 13(d) of the Securities Exchange Act of 1934, as amended (each, a "Third Party"), other than Buyer and its affiliates, representatives and agents, PROVIDED, HOWEVER, that nothing contained in this Section 18.1 shall prohibit BSRT or Sellers (individually or in the aggregate) from (i) furnishing non-public information with respect to BSRT and Sellers (pursuant to a customary confidentiality agreement) to any person or other entity that makes an unsolicited bona fide Acquisition Proposal after the date hereof, (ii) participating in negotiations regarding such Acquisition Proposal if, and only to the extent that, a majority of the disinterested members of BSRT's Board of Trustees determines in good faith that (x) such action is required by its fiduciary duties under applicable law or group BSRT's Organizational Documents, and (other than Mpathy) regarding any acquisition of RTI, any merger or consolidation with or involving RTIthe Acquisition Proposal constitutes, or any acquisition is reasonably likely to lead to, a Superior Proposal and (z) BSRT complies with the provisions of any material portion of the assets of RTISection 18.3 hereof, or any acquisition of any capital stock of RTI, or any material license of RTI Proprietary Rights and (any of the foregoing being referred iii) responding to routine shareholder inquiries in accordance with applicable law and/or BSRT's Organizational Documents. Nothing in this Agreement as an "Acquisition Transaction") or enter into an agreement concerning any Acquisition Transaction with any party other than Mpath. If between the date of this Agreement and the termination of this Agreement pursuant to Section 9.1, RTI receives from a third party any offer or indication of interest regarding any Acquisition Transaction, or any request for information regarding any Acquisition Transaction, RTI 18.1 shall (i) notify Mpath immediately permit BSRT to terminate this Agreement (orally and except as specifically provided in writing) of such offerthis Agreement), indication of interest or request, including the identity of such party and the full terms of any proposal therein, and (ii) notify such third party except as otherwise provided herein, permit BSRT to enter into any agreement with respect to an Acquisition Proposal during the term of RTI's obligations under this Agreement (without it being agreed that during the term of this Agreement, neither BSRT nor any reference to Mpath). Notwithstanding the foregoing, nothing in this Section 5.6 shall be construed to restrict the ability of the RTI Board of Directors to take such actions in connection Sellers shall enter into any agreement with any proposed person that provides for, or in any way facilitates, an Acquisition Transactions that such Board reasonably determines in good faith to be required to permit it to discharge properly its fiduciary duties, provided that Proposal) or (iii) affect any other obligation of any party under this qualification shall in no way affect the obligations -------- of RTI and the RTI Board of Directors pursuant to Section 5.1Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Banyan Strategic Realty Trust)

Other Negotiations. Following the date hereof Unless and ------------------ until termination of this Agreement shall have been ------------------ terminated by either party pursuant to Section 9.17.1 hereof, RTI will not or such later date when all outstanding indebtedness under that certain Promissory Note of Starseed dated September 1, 1998 attached hereto as Exhibit 5.3 has been repaid (the "Promissory Note"), Starseed shall not, directly or indirectly, (and it will not permit any of use --------------- its best efforts to assure that its officers, directors, employees, agents affiliates and Affiliates legal, accounting and financial advisors do not on its behalf tobehalf) take any action to solicit, initiate, seek, encourage or support any inquiry, proposal or offer from, furnish any information to, or participate in any negotiations with, any corporation, partnership, person or other entity or group (other than Mpathnegotiations with GeoCities) regarding any acquisition of RTIStarseed, any merger or consolidation with or involving RTIStarseed, or any acquisition of any material portion of the stock or assets of RTI, or Starseed. Starseed agrees that any acquisition of any capital stock of RTI, or any material license of RTI Proprietary Rights (any of the foregoing being negotiations referred to in this Agreement Section 5.3 (other than negotiations with GeoCities) in progress as an "Acquisition Transaction") of the date hereof will be suspended during the period referred to above and that, in no event, will Starseed accept or enter into an agreement concerning any Acquisition Transaction with any party other than Mpath. If between the date of this Agreement and the termination of this Agreement pursuant to Section 9.1, RTI receives from a such third party regarding matters contemplated herein during such period. Starseed represents and warrants that it has the legal right to terminate or suspend any offer such pending negotiations with third parties. Starseed will notify GeoCities immediately after receipt by Starseed (or indication any of interest regarding its officers, directors, employees, affiliates or advisors) of any Acquisition Transactionunsolicited proposal for, or inquiry respecting, any third party acquisition transaction or any request for nonpublic information regarding in connection with such a proposal or inquiry or for access to the properties, books or records of Starseed by any Acquisition Transactionperson or entity that informs Starseed that it is considering making, RTI shall (i) notify Mpath immediately (or has made, such a proposal or inquiry. Such notice to GeoCities will be made orally and in writing) of such offer, indication of interest or request, including writing and will indicate in reasonable detail the identity of such party the person making the proposal or inquiry and the full terms and conditions of any such proposal thereinor inquiry. This Section 5.3 shall supersede Section 2 of that certain letter agreement dated as of September 1, 1998 between Starseed and GeoCities (iithe "Letter Agreement") notify such third party and shall survive termination of RTI's obligations under this Agreement (without any reference to Mpath)Agreement. Notwithstanding the foregoing, nothing in this Section 5.6 shall be construed to restrict the ability of the RTI Board of Directors to take such actions in connection with any proposed Acquisition Transactions that such Board reasonably determines in good faith to be required to permit it to discharge properly its fiduciary duties, provided that this qualification shall in no way affect the obligations -------- of RTI and the RTI Board of Directors pursuant to Section 5.1.----------------

Appears in 1 contract

Samples: Agreement and Plan of Merger (Geocities)

Other Negotiations. Following Except with the prior written approval of First Merchants and Xxxxxxxxx, on and after the date hereof and ------------------ until termination of this Agreement pursuant to Section 9.1and until the Effective Date, RTI will not (Xxxxxxxx shall not, and it will shall not permit any of or authorize its respective directors, officers, directors, employees, agents and Affiliates on its behalf or representatives to) take any action to solicit, directly or indirectly, initiate, seeksolicit, encourage encourage, or support any inquiryengage in discussions or negotiations with, proposal or offer from, furnish any provide information to, or participate in any negotiations with, any corporation, association, partnership, person or other entity or group concerning any merger, consolidation, share exchange, combination, purchase or sale of substantial assets, sale of shares of capital stock (other than Mpath) regarding any acquisition of RTI, any merger or consolidation with securities convertible or involving RTIexchangeable into or otherwise evidencing, or any agreement or instrument evidencing the right to acquire, capital stock), tender offer, acquisition of any material portion control of Xxxxxxxx or similar transaction involving Xxxxxxxx (all such transactions hereinafter referred to as "Acquisition Transactions"). Xxxxxxxx shall promptly communicate to First Merchants and Xxxxxxxxx the assets of RTI, or any acquisition terms of any capital stock of RTIproposal, written or any material license of RTI Proprietary Rights (any of the foregoing being referred oral, which it may receive with respect to in this Agreement as an "Acquisition Transaction") or enter into an agreement concerning any Acquisition Transaction with and any party other than Mpath. If between the date of this Agreement and the termination of this Agreement pursuant to Section 9.1, RTI receives from a third party any offer request by or indication of interest regarding on the part of any third party with respect to initiation of any Acquisition TransactionTransaction or discussion with respect thereto. The above provisions of this Section 7.05 notwithstanding, or any request for information regarding any Acquisition Transaction, RTI nothing contained in this Agreement shall prohibit (i) notify Mpath immediately Xxxxxxxx from furnishing information to, or entering into discussions or negotiations with, any person or entity that makes an unsolicited proposal of an Acquisition Transaction if and to the extent that (orally and in writinga) of such offer, indication of interest or request, including the identity of such party and the full terms of any proposal therein, and (ii) notify such third party of RTI's obligations under this Agreement (without any reference to Mpath). Notwithstanding the foregoing, nothing in this Section 5.6 shall be construed to restrict the ability of the RTI Board of Directors to take such actions in connection of Xxxxxxxx, after consultation with any proposed Acquisition Transactions that such Board reasonably and based upon the written advice of legal counsel, determines in good faith that such action is required for the directors of Xxxxxxxx to be required fulfill their fiduciary duties and obligations to permit the Xxxxxxxx shareholders and other constituencies under Indiana law, and (b) prior to furnishing such information to, or entering into discussions or negotiations with, such person or entity, Xxxxxxxx provides immediate written notice to First Merchants and Xxxxxxxxx to the effect that it to discharge properly its fiduciary dutiesis furnishing information to, provided that this qualification shall in no way affect or entering into discussions or negotiations with, such person or entity, or (ii) notwithstanding the obligations -------- provisions of RTI and Section 7.01, the RTI Board of Directors pursuant of Xxxxxxxx from failing to Section 5.1make, withdrawing or modifying its recommendation to shareholders regarding the Merger following receipt of a proposal for an Acquisition Transaction if the Board of Directors of Xxxxxxxx, after consultation with and based upon the written advice of legal counsel, determines in good faith that such action is required for the directors of Xxxxxxxx to fulfill their fiduciary duties and obligations to the Xxxxxxxx shareholders and other constituencies under Indiana law.

Appears in 1 contract

Samples: Agreement of Reorganization and Merger (First Merchants Corp)

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