Common use of Right to Accept Clause in Contracts

Right to Accept. In the event that the options provided for in Section 2.3 (b) hereof expire without exercise or the Offered Corporation Securities are not purchased pursuant to exercise thereof, then within sixty (60) days after all rights to make such purchase shall have expired, the Selling Stockholder, subject to the provisions of Section 2.4, shall have the right to consummate the sale of all of the Offered Corporation Securities, upon terms and conditions no less favorable than those contained in the Offer, to the offeror thereunder. If for any reason the sale is not consummated within the period provided for herein, the Selling Stockholder shall not thereafter dispose of the Offered Corporation Securities unless and until it has again complied with all of the provisions hereof.

Appears in 3 contracts

Samples: Stockholders' Agreement (Metal Management Inc), Stockholders' Agreement (Jacobs Gerard M), Stockholders' Agreement (Metal Management Inc)

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Right to Accept. In the event that the options provided for in Section 2.3 (b2.4(b) hereof expire without exercise or the Offered Corporation Securities are not purchased pursuant to exercise thereof, then within sixty (60) days after all rights to make such purchase shall have expired, the Selling Stockholder, subject to the provisions of Section 2.4, shall have the right to consummate the sale of all of the Offered Corporation Securities, upon terms and conditions no less favorable than those contained in the Offer, to the offeror thereunder. If for any reason the sale is not consummated within the period provided for herein, the Selling Stockholder shall not thereafter dispose of the Offered Corporation Securities unless and until it has again complied with all of the provisions hereof.

Appears in 1 contract

Samples: Stockholders' Agreement (Metal Management Inc)

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Right to Accept. In the event that the options provided for in Section 2.3 2.4 (b) hereof expire without exercise or the Offered Corporation Securities are not purchased pursuant to exercise thereof, then within sixty (60) days after all rights to make such purchase pur chase shall have expired, the Selling Stockholder, subject to the provisions of Section 2.42.5, shall have the right to consummate the sale of all of the Offered Corporation Securities, upon terms and conditions no less favorable than those contained in the Offer, to the offeror thereunder. If for any reason the sale is not consummated within the period provided for herein, the Selling Stockholder shall not thereafter dispose of the Offered Corporation Securities unless and until it has again complied with all of the provisions hereof.

Appears in 1 contract

Samples: Stockholders' Agreement (Samstock LLC)

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