An exclusivity period within a no shop clause could be set to 30 days or 45 days or 60 days or 90 days - whatever the parties agree to is a sufficient period to close financing, perform due diligence and to get the lawyers to prepare the paperwork. Within that exclusivity period a series of obligations are placed upon the parties - those obligations are found within the framework of a "no shop clause". If the exclusivity period elapses lawyers will want to circulate an amendment to the various parties for signing that allows for an extension of the period as well as of the obligations related to the no-shop clause (maintain confidentiality, not solicit other offers, etc.) within that new period.