Define: Proposed Purchaser

a proposed purchaser who at the relevant time has made an offer on arm's length terms;

a proposed purchaser who at the relevant time has made an offer on arm's length terms;.

Relevant Circumstances

When a third party makes an arm's-length offer for shares or assets
If pre-emption or right-of-first-refusal rights are triggered by an external offer
Where evidence of a bona fide proposed purchaser is needed to start a sale process

Relevant Sectors