Common use of Purchasers’ right of Secondary Sale Clause in Contracts

Purchasers’ right of Secondary Sale. (a) Upon occurrence of an Exit Trigger Event, the Purchaser shall, at its sole discretion, have the right to initiate a Secondary Sale (“Purchaser Secondary Sale”), which Purchaser Secondary Sale shall be on such terms and conditions as acceptable to the Purchaser and in this regard, the provisions of Clauses 5.1.3(a) to 5.1.3(e) (Exit) shall apply mutatis mutandis to such a Purchaser Secondary Sale. The Company and the Promoters hereby agree and undertake to take all necessary steps as may be required, and to extend all necessary co-operation to effectuate a Purchaser Secondary Sale. Notwithstanding anything contained herein, it is hereby clarified that the Purchaser shall have the right to sell, encumber or otherwise dispose all or part of of the Equity Shares or Securities of the Company to any Person (including its Affiliates). Provided however that, subject to the terms of this Agreement, the Purchaser shall not sell, encumber or otherwise dispose of the Equity Shares or Securities of the Company to any Competitor as a part of the Secondary Sale or the Purchaser Secondary Sale until the Extended Exit Date (except as stated in Clause 5.1.3(f)) ("Transfer Restriction Period”). It is further agreed that the Purchaser is prohibited from transferring any Equity Shares or Securities to any persons or entities belonging to the Xxxxx Group at any point of time.

Purchasers’ right of Secondary Sale. (a) Upon occurrence of an Exit Trigger Event, the Purchaser shall, at its sole discretion, have the right to initiate a Secondary Sale (“Purchaser Secondary Sale”), which Purchaser Secondary Sale shall be on such terms and conditions as acceptable to the Purchaser and in this regard, the provisions of Clauses 5.1.3(a) to 5.1.3(e) (Exit) shall apply mutatis mutandis to such a Purchaser Secondary Sale. The Company and the Promoters hereby agree and undertake to take all necessary steps as may be required, and to extend all necessary co-operation to effectuate a Purchaser Secondary Sale. Notwithstanding anything contained herein, it is hereby clarified that the Purchaser shall have the right to sell, encumber or otherwise dispose all or part of of the Equity Shares or Securities of the Company to any Person (including its Affiliates). Provided however that, subject to the terms of this Agreement, the Purchaser shall not sell, encumber or otherwise dispose of the Equity Shares or Securities of the Company to any Competitor as a part of the Secondary Sale or the Purchaser Secondary Sale until the Extended Exit Date (except as stated in Clause 5.1.3(f)) ("Transfer Restriction Period”). It is further agreed that the Purchaser is prohibited from transferring any Equity Shares or Securities to any persons or entities belonging to the Xxxxx Group at any point of time.