BMBYBuy Me Buy You (clause)
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The LOI includes arrangements pertaining to the joint management of the acquired company and to the arrangement of the relations between the shareholders which will be part of the Detailed Agreement, including a BMBY clause that will apply commencing seven years after the closing date of the agreement.
6 BMBY (Buy Me Buy You) - Each party to the agreement will have the right to invoke BMBY for Controlling Interest Shares (commencing from the end of the lock-up period), whereby the party can offer the other party to purchase all of the Controlling Interest Shares to be held by the other party at a price to be stated in the offer, or to sell to the other party all of the Controlling Interest Shares that will be held by the party, at the said price.
In addition, GoldMind has the option to acquire the remaining 50% of Nirshamim's shares by triggering a BMBY ("Buy Me Buy You") mechanism.