Common use of Mandatory Sale Clause in Contracts

Mandatory Sale. ‌ Unless the Parties agree otherwise in writing, if: (a) not capable of remedy: a Defaulting Party commits or allows the occurrence of an Event of Default that is not capable of remedy; or (b) not remedied: a notice is given pursuant to clause 17.3(b) and the Event of Default is not remedied by the Defaulting Party within the required timeframe, the Board may notify the Defaulting Party that it shall be deemed to have given an irrevocable Transfer Notice in respect of all of its Shares and be required to sell such Shares pursuant to clause 17.6.

Mandatory Sale. ‌ Unless the Parties agree otherwise in writing, if: (a) not capable of remedy: a Defaulting Party commits or allows the occurrence of an Event of Default that is not capable of remedy; or (b) not remedied: a notice is given pursuant to clause 17.3(b18.3(b) and the Event of Default is not remedied by the Defaulting Party within the required timeframe, the Board may notify the Defaulting Party that it shall be deemed to have given an irrevocable Transfer Notice in respect of all of its Shares and be required to sell such Shares pursuant to clause 17.618.6.