Purchase Agreement: No Secondary Acquisitions Representation | Practical Law
A Standard Clause used when a buyer wants the target or seller to represent that it does not own a non-controlling voting interest in any entity that requires the buyer to submit an additional Hart-Scott-Rodino (HSR) Act filing for that secondary acquisition. This Standard Clause discusses the definition of a secondary acquisition under Rule 801.4 and when the parties may agree to this representation. It has integrated notes with important explanations and drafting tips.