Common use of Mandatory Sale Clause in Contracts

Mandatory Sale. If shareholders of the Corporation holding an aggregate of sixty percent (60%) or more of the Shares (the “Selling Shareholders”) agree to sell their interests in the Corporation in any single transaction or related series of transactions other than to an Affiliate, and the proposed purchaser desires to acquire all the Shares in the Corporation, then the Shareholder shall sell its Shares to said proposed purchaser on the same relative terms and conditions contained in the offer delivered to the Selling Shareholders.

Appears in 2 contracts

Samples: Shareholder Agreement (TRX Inc/Ga), Shareholder Agreement (TRX Inc/Ga)

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Mandatory Sale. If shareholders of the Corporation holding an aggregate of sixty percent (60%) or more of the Shares (the "Selling Shareholders") agree to sell their interests in the Corporation in any single transaction or related series of transactions other than to an Affiliate, and the proposed purchaser desires to acquire all the Shares in the Corporation, then all of the Shareholder Shareholders shall sell its their Shares to said proposed purchaser on the same relative terms and conditions contained in the offer delivered to the Selling Shareholders.

Appears in 2 contracts

Samples: Shareholders Agreement (TRX Inc/Ga), Shareholders Agreement (TRX Inc/Ga)

Mandatory Sale. If shareholders of the Corporation holding an aggregate of sixty percent (60%) or more of the Shares (the “Selling Shareholders”) agree to sell their interests in the Corporation in any single transaction or related series of transactions other than to an Affiliate, and the proposed purchaser desires to acquire all the Shares in the Corporation, then all of the Shareholder Shareholders shall sell its their Shares to said proposed purchaser on the same relative terms and conditions contained in the offer delivered to the Selling Shareholders.

Appears in 1 contract

Samples: Shareholder Agreement (TRX Inc/Ga)

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Mandatory Sale. If shareholders of the Corporation holding an aggregate of sixty percent (60%) or more of the Shares (the Selling Shareholders”) agree to sell their interests in the Corporation in any single transaction or related series of transactions other than to an Affiliate, and the proposed purchaser desires to acquire all the Shares in the Corporation, then all of the Shareholder Shareholders shall sell its their Shares to said proposed purchaser on the same relative terms and conditions contained in the offer delivered to the Selling Shareholders.

Appears in 1 contract

Samples: Shareholders Agreement (TRX Inc/Ga)

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