Examples of Drag-Along Right in a sentence
The Drag-Along Smart Contract may be used by majority shareholders or a majority of Drag- Along Token Holders to trigger the Drag-Along Right under this Drag-Along Smart Contract based on an Offer Price that is below the fair market value of the Drag-Along Tokens, or to amend or terminate the Drag-Along Smart Contract and this Agreement.
In the event that (i) Shareholders holding shares representing 75% of all shares accept a bona fide offer to sell their shares to a third person, and (ii) such sale is conditioned upon the sale of all or any of the shares held by other Shareholders at the time of sale to such third person, the other Shareholders shall be required to sell their shares in such transaction on the same terms and conditions (Drag-Along Right).
In the event the Investors cannot be offered an exit to their satisfaction in any of the ways prescribed in Clause 6.2 to Clause 6.5 below, then the Investors shall be entitled to exercise the Drag-Along Right under Clause 1.6..
If the sale under the Drag-Along Right has not been consummated within 12 (twelve) months following delivery of the Drag-Along Notice, all Dragged Shareholders shall be released from the obligation under the Drag-Along Right.
The Selling Shareholder(s) shall notify the other Shareholders and the Company of the exercise of the Drag-Along Right at least 45 calendar days prior to the Planned Transaction Date, and shall include the Planned Sale Price.