Several have speculated that the specifics of the term sheet greatly benefit the GP over IPIX due to the RFR/RFN components. I see this as nonsense. What GP would spend time and effort to negotiate with IPIX while leaving a third party bid to possibly be accepted without response. It seems that all such clauses do is ALLOW TIME FOR RESPONSE by the GP to any third party offer before such an offer could be accepted by IPIX. Seems quite logical. I would certainly want such in any negotiation I entered but I definitely would not view it as an advantage. Just a right to respond with a matching OR HIGHER offer. Just my own uniformed opinion of course.