Common use of Exercise of Tag-Along Right Clause in Contracts

Exercise of Tag-Along Right. (i) Each Tag-along Member may exercise its right to participate in the Tag-along Sale on the terms described in the Tag-along Notice by delivering to the Selling Member a written notice (a “Tag-along Exercise Notice”) stating its election to do so no later than 10 Business Days after receipt of the Tag-along Notice (the “Tag-along Exercise Period”). The election of such Tag-along Member set forth in a Tag-along Exercise Notice shall be irrevocable, and, to the extent the offer in the Tag-along Notice is accepted, such Tag-along Member shall be bound and obligated to consummate the Transfer on the terms and conditions set forth in this Section 3.01. If one or more Tag-along Members elects pursuant to a Tag-along Exercise Notice and this Section 3.01(d)(i) to participate in the Tag-along Sale, the number of Membership Interest Units of Tag-along Membership Interest Units that the Selling Member may sell in the Tag-along Sale shall be correspondingly reduced.

Appears in 2 contracts

Samples: Members Agreement (Capstone Financial Group, Inc.), Members Agreement (Capstone Financial Group, Inc.)

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Exercise of Tag-Along Right. (i) Each Tag-along Member Stockholder may exercise its right to participate in the Tag-along Sale on the terms described in the Tag-along Notice by delivering to the Selling Member Stockholder a written notice (a “Tag-along Exercise Notice”) stating its election to do so no later than 10 five Business Days after receipt of the Tag-along Notice (the “Tag-along Exercise Period”). The election of such each Tag-along Member Stockholder set forth in a Tag-along Exercise Notice shall be irrevocable, and, to the extent the offer in the Tag-along Notice is accepted, such Tag-Tag- along Member Stockholder shall be bound and obligated to consummate the Transfer on the terms and conditions set forth in this Section 3.013.4. If one or more Tag-along Members Stockholders elects pursuant to a Tag-along Exercise Notice and this Section 3.01(d)(i3.4(d)(i) to participate in the Tag-along Sale, the number of Membership Interest Units of Tag-along Membership Interest Units Stock that the Selling Member Stockholder may sell in the Tag-along Sale shall be correspondingly reducedreduced in accordance with Section 3.4(d)(ii).

Appears in 1 contract

Samples: Stockholders Agreement

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Exercise of Tag-Along Right. (i) Each Tag-along Member Stockholder may exercise its right to participate in the Tag-along Sale on the terms described in the Tag-along Notice by delivering to the Selling Member Stockholder a written notice (a “Tag-along Exercise Notice”) stating its election to do so no later than 10 Business Days after receipt of the Tag-along Notice (the “Tag-along Exercise Period”). The election of such each Tag-along Member Stockholder set forth in a Tag-along Exercise Notice shall be irrevocable, and, to the extent the offer in the Tag-along Notice is accepted, such Tag-along Member Stockholder shall be bound and obligated to consummate the Transfer on the terms and conditions set forth in this Section 3.015.02. If one or more Tag-along Members Stockholders elects pursuant to a Tag-along Exercise Notice and this Section 3.01(d)(i5.02(c)(i) to participate in the Tag-along Sale, the number of Membership Interest Units Shares of Tag-along Membership Interest Units Stock that the Selling Member Stockholder may sell in the Tag-along Sale shall be correspondingly reducedreduced in accordance with Section 5.02(c)(ii).

Appears in 1 contract

Samples: Stockholders Agreement

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