exclusive negotiating period
- exclusive negotiating period
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exclusive negotiating period/lock out agreement
Agreement by the seller or both parties not to enter into negotiations with any third party that might jeopardise the acquisition for a certain period of time. The length of exclusivity must be reasonable based on the nature of the deal and time needed to complete.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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