USA
In the context of bankruptcy, Also known as period of exclusivity and in the context of mergers and acquisitions, Also known as an exclusivity agreement and exclusivity period.
USA
exclusivity agreement Also known as exclusivity.
A type of agreement (sometimes found in a term sheet or confidentiality agreement) limiting the seller's ability to solicit an offer from or negotiate with a third party during a specified time period. An exclusivity agreement protects a buyer against being outbid by another party.
For more information on exclusivity agreements, see Practice Note, Exclusivity Agreements (www.practicallaw.com/6-381-0513) and Standard Document, Exclusivity Agreement (www.practicallaw.com/1-386-8827).
See
+ period of exclusivity, Also known as exclusivity.
USA
In a Chapter 11 bankruptcy, the debtor has the exclusive right during the first 120 days of its case to file a plan of reorganization. This period may be reduced or extended by the court for cause, but may only be extended to a maximum of 18 months after the date of the filing of the petition. Other parties may not propose competing plans until after expiration of the exclusivity period.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.