Best efforts

Best efforts

A high standard of undertaking, but nevertheless excusable in the event of a force majeure.

Best-Efforts Basis

An agreement between an underwriter and an issuer in which the underwriter agrees to place as much of an offering with investors as possible, but is not responsible for any portion of the offering it fails to sell. For example, suppose an issuer makes a new issue of 100,000 shares. The issuer may make a best effort basis agreement with an underwriting firm for the underwriter to sell those shares to investors. If the underwriting firm only sells 90,000, however, it is not required to buy the remaining 10,000 from the issuer. This reduces the risk to the underwriter; to reduce the risk to the issuer, most best efforts are all-or-none offerings.
References in classic literature ?
I once heard a pirate swear, but his best efforts would have seemed like those of a tyro alongside of Perry's masterful and scientific imprecations.
And so it was with the utmost confidence that I laid hold of the huge iron rim; but though I threw every ounce of my strength into it, my best effort was as unavailing as Perry's had been--the thing would not budge--the grim, insensate, horrible thing that was holding us upon the straight road to death!
To those people in the huts and villages of half the globe struggling to break the bonds of mass misery: we pledge our best efforts to help them help themselves, for whatever period is required.
She felt that the contest was unequal--that she was unable to put forth her best efforts.
So I am content to tell my simple story, without trying to make things seem better than they were; dreading nothing, indeed, but falsity, which, in spite of one's best efforts, there is reason to dread.
The emperor told me that the building of this great empire and the spreading of enlightenment among its diversified and savage peoples had required all the best efforts of nearly two hundred years.
In spite of their best efforts, however, the dinner was a languishing affair.
The inutility of her best efforts, however, palsied the poor old gentlewoman.
This floor was half an inch deep with blood, in spite of the best efforts of men who kept shoveling it through holes; it must have made the floor slippery, but no one could have guessed this by watching the men at work.
The ministry is making its best efforts to maximize the export of manpower from Pakistan to Gulf States.
Reliable sources have said that Nayyar made his best efforts to meet Speaker National Assembly Sardar Ayaz Sadik, in order to deliberate certain pertinent factors, bur Speaker's hectic schedule restrained Nayyar's best efforts.
The best efforts of 11-year-old Kyle Catlett are no match for this whimsical modern-day fairy-tale.