In the event that the Acquisition does not close within six (6) months after the execution of the Letter of Intent, or if Acquirer fails to provide the purchase price in accordance with the schedule set forth in the Letter of Intent, or if Crowncorp otherwise repudiates its obligations under the Letter of Intent, the Company shall be entitled to receive from Crowncorp a breakup fee of $2,000,000.Further, the Parties have agreed to a "no-shop period" during which the Company shall not solicit nor accept any competing offers to be made by a third party for the acquisition of the Company unless the Letter of Intent is terminated.
Hondo Minerals Corporation Enters Into A Binding Letter Of Intent With Crowncorp Investments To Acquire The Company For A Purchase Price Of $88 Million Dollars
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