Common use of Completion of Sale to Third Party Clause in Contracts

Completion of Sale to Third Party. If, during the Offer Period, neither the Company nor any combination of the Company and the other Stockholders has accepted the offer contained in the Transfer Notice in writing as to all the Transfer Stock covered thereby, or within 15 days of acceptance by any combination of the Company and any Stockholder the closing has not occurred, and Section 2.4 does not apply to such Transfer, then during the next 60 days, the Offering Holder may sell the Transfer Stock to the Offeror at the price and on the other terms contained in the Transfer Notice. No sale may be made by the Offering Holder to any Offeror if such sale would constitute a Prohibited Transfer or unless and until such Offeror executes and delivers to the Company a Joinder Agreement in accordance with Section 2.13 hereof. Promptly after any sale pursuant to this Section 2.2, the Offering Holder shall furnish such evidence of the completion (including time of completion) of such sale and of the terms thereof as the Company may reasonably request. If the Offering Holder has not completed the sale of the Transfer Stock during the applicable period referred to above, such Offering Holder shall no longer be permitted to sell such shares pursuant to this Section 2.2 without again fully complying with the provisions of this Section 2.2 and all the restrictions on sale, transfer or assignment contained in this Agreement shall again be in effect with respect to the Transfer Stock.

Appears in 4 contracts

Samples: Stockholders Agreement (Insight Health Services Holdings Corp), Stockholders Agreement (Insight Health Services Holdings Corp), Stockholders Agreement (Signal Medical Services)

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Completion of Sale to Third Party. If, during the Offer Period, neither If the Company nor any combination of and/or the Company and the other Stockholders has Offeree Holders has/have not accepted the offer contained in the Transfer Notice in writing as to all the Transfer Stock covered therebythereby during the Offer Period, or within 15 days of acceptance by any combination if the closing of the Company and any Stockholder purchase of the closing Transfer Stock has not occurredoccurred within the period specified in Section 3.2(b), and Section 2.4 3.4 does not apply to such Transfer, then during the next 60 days, the Offering Holder may sell the Transfer Stock to the Offeror at upon the price terms and on conditions, including price, which are no more favorable, in the other terms aggregate, to such Offeree or less favorable to the Holder than those contained in the Transfer Notice. No sale may be made by the Offering Holder to any Offeror if such sale would constitute a Prohibited Transfer or unless and until such Offeror executes and delivers to the Company a Joinder Agreement in accordance with Section 2.13 hereof. Promptly after any sale pursuant to this Section 2.23.2, the Offering Holder shall furnish such evidence of the completion (including time of completion) of such sale and of the terms thereof as the Company may reasonably request. If the Offering Holder has not completed the sale of the Transfer Stock during the applicable period referred to above, such Offering Holder shall no longer be permitted to sell such shares pursuant to this Section 2.2 3.2 without again fully complying with the provisions of this Section 2.2 3.2 and all the restrictions on sale, transfer or assignment contained in this Agreement shall again be in effect with respect to the Transfer Stock.

Appears in 1 contract

Samples: Stockholders Agreement (Universal Hospital Services Inc)

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