Tag-Along Obligations. The Miletos Parties (the "Tag-Along Initiator") desiring to Transfer any shares of Stock shall give not less than 20 days prior written notice of such intended Transfer to each Investor ("Tag-Along Offeree") and to the Company. Such notice (the "Tag-Along Notice") shall set forth the terms and conditions of such proposed Transfer, including the name of the proposed transferee, the number of shares proposed to be transferred by the Tag-Along Initiator (the "Tag-Along Shares"), the purchase price per share proposed to be paid therefor and the payment terms and type of transfer to be effectuated. Within 10 days after delivery of the Tag-Along Notice by the Tag-Along Initiator to each Tag-Along Offeree and to the Company, each Tag-Along Offeree shall, by written notice to the Tag-Along Initiator and the Company, have the opportunity and right to sell to the transferee in such proposed Transfer (upon the same terms and conditions as the Tag-Along Initiator) up to that number of shares of such Stock owned by the Tag-Along Offeree as shall equal the product of (x) a fraction, the numerator of which is the number of shares of such Stock owned by the Tag-Along Offeree as of the date of the Tag-Along Notice and the denominator of which is the aggregate number of shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Initiator and all of the Tag-Along Offerees, times (y) the number of shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Offeree; provided, however, that the number of shares of Stock to be sold by any Tag-Along Offeree shall not exceed the same proportion as the number of shares of Stock to be Transferred by the Tag-Along Initiator bears to the number of shares of Stock held by the Tag-Along Initiator. The amount of Tag-Along Shares to be sold by any Tag-Along Initiator shall be reduced to the extent necessary to provide for such sales of shares by Tag- Along Offerees. No Person may Transfer shares in any transaction that is subject to this Section 5 unless the transferee agrees to be bound by and complies with the terms of this Agreement.
Appears in 1 contract
Samples: Stockholders' and Voting Agreement (Cdknet Com Inc)
Tag-Along Obligations. The Miletos Parties (the "Tag-Along Initiator"a) desiring to Transfer If at any shares time a Principal Shareholder or any Affiliate of Stock shall give not less than 20 days prior written notice of such intended Transfer to each Investor a Principal Shareholder ("Tag-Along OffereeSeller") shall, in one or in a series of transactions, enter into an agreement to effect, or effect or propose to effect, an Applicable Disposition to any transferee and it does not elect to the Company. Such notice exercise its rights under Section 9 hereof (the a "Tag-Along NoticeSale") ), each holder of Warrants or shares of Warrant Stock shall set forth have the terms and conditions of right, but not the obligation, to participate in such proposed Transfer, including the name of the proposed transferee, Tag-Along Sale by selling up to the number of shares proposed (on an aggregate basis) of Warrant Stock subject to be transferred by the Tag-Along Initiator (the "Tag-Along Shares"), the purchase price per share proposed to be paid therefor Warrants and the payment terms and type of transfer to be effectuated. Within 10 days after delivery of the Tag-Along Notice by the Tag-Along Initiator to each Tag-Along Offeree and to the Company, each Tag-Along Offeree shall, by written notice to the Tag-Along Initiator and the Company, have the opportunity and right to sell to the transferee in such proposed Transfer (upon the same terms and conditions as the Tag-Along Initiator) up to that number of shares of such Warrant Stock owned by the Tag-Along Offeree as shall equal to the product of (xi) the total number of shares (on an aggregate basis) of Common Stock proposed to be sold in the proposed Tag-Along Sale multiplied by (ii) a fraction, the numerator of which is equal to the number of shares (on an aggregate basis) of Warrant Stock subject to Warrants and shares of Warrant Stock owned by such holder together with the number of shares of Common Stock owned by any holder thereof who is entitled to so called "Tag along" rights and elects to exercise such rights in connection with the Tag along Sale, in each case immediately prior to the Tag-Along Sale, and the denominator of which is equal to (A) the number of shares of Common Stock owned by the Tag-Along Offeree as of the date of Seller immediately prior to the Tag-Along Notice Sale plus (B) the number of shares (on an aggregate basis) of Warrant Stock subject to Warrants and shares of Warrant Stock owned by such holder together with the denominator of which is the aggregate number of shares of such Common Stock owned as of by any holder thereof who is entitled to so called "Tag along" rights and elects to exercise such rights in connection with the date of Tag Along Sale, in each case immediately prior to the Tag-Along Notice Sale. Any such sales by such holder shall be on the same terms and conditions as the proposed Tag-Along Sale by the Tag-Along Initiator and all of Seller, except the Tag-Along Offerees, times holder shall not be required to make any representations or warranties except as to (yx) its title to the number of Warrants or shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Offeree; provided, however, that the number of shares of Warrant Stock to be sold by any Tag-Along Offeree it, (y) such holder's power and authority to effect such transfer and (z) such matters pertaining to compliance with securities law as the transferee may reasonably require.
(b) The foregoing notwithstanding, the provisions of this Section 8.02 shall not exceed the same proportion as the number apply to any (i) bona fide public sale of shares of Common Stock to be Transferred by the Tag-Along Initiator bears sold, or to the number securities so sold or to holders thereof, pursuant to an effective registration statement under the Securities Act and (ii) any transfer, sale or disposition of shares of Common Stock held by solely among the Tag-Along Initiator. The amount of Tag-Along Shares to be sold by any Tag-Along Initiator shall be reduced to the extent necessary to provide for such sales of shares by Tag- Along Offerees. No Person may Transfer shares in any transaction that is subject to this Section 5 unless the transferee agrees to be bound by Principal Shareholder and complies with the terms of this Agreementits Affiliates.
Appears in 1 contract
Tag-Along Obligations. The Miletos Parties (a) If at any time the Principal Shareholder or any Affiliate (other than the Company) of the Principal Shareholder that has such Affiliate status solely by virtue of his, her or its status as an Affiliate of the Issuer ("TAG-ALONG SELLER") shall, in one or in a series of transactions, enter into an agreement to effect, or effect or propose to effect, an Applicable Disposition to any transferee (a "TAG-ALONG SALE"), each Initial Holder shall have the right, but not the obligation, to participate in such Tag-Along Initiator") desiring Sale by selling up to Transfer any shares of Stock shall give not less than 20 days prior written notice of such intended Transfer to each Investor ("Tag-Along Offeree") and to the Company. Such notice (the "Tag-Along Notice") shall set forth the terms and conditions of such proposed Transfer, including the name of the proposed transferee, the number of shares proposed (on an aggregate basis) of Warrant Stock subject to be transferred by the Tag-Along Initiator (the "Tag-Along Shares"), the purchase price per share proposed to be paid therefor Warrants and the payment terms and type of transfer to be effectuated. Within 10 days after delivery of the Tag-Along Notice by the Tag-Along Initiator to each Tag-Along Offeree and to the Company, each Tag-Along Offeree shall, by written notice to the Tag-Along Initiator and the Company, have the opportunity and right to sell to the transferee in such proposed Transfer (upon the same terms and conditions as the Tag-Along Initiator) up to that number of shares of such Warrant Stock owned by the Tag-Along Offeree as shall equal to the product of (xi) the total number of shares (on an aggregate basis) of Common Stock proposed to be sold in the proposed Tag-Along Sale multiplied by (ii) a fraction, the numerator of which is equal to the number of shares (on an aggregate basis) of Warrant Stock subject to Warrants and shares of Warrant Stock owned by such Initial Holder immediately prior to the Tag-Along Sale, and the denominator of which is equal to (A) the number of shares of such Common Stock owned by the Tag-Along Offeree as of the date of Seller immediately prior to the Tag-Along Notice Sale plus (B) the number of shares (on an aggregate basis) of Warrant Stock subject to Warrants and shares of Warrant Stock owned by such holder together with the denominator of which is the aggregate number of shares of such Common Stock owned as of the date of by any holder thereof who has similar "tag-along" rights and elects to exercise such rights in connection with the Tag-Along Notice Sale, in each case immediately prior to the Tag-Along Sale. Any such sales by such Initial Holder shall be on the same terms and conditions as the proposed Tag-Along Sale by the Tag-Along Initiator and all of Seller, except such Initial Holder shall not be required to make any representations or warranties except as to (x) its title to the Tag-Along Offerees, times (y) the number of Warrants or shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Offeree; provided, however, that the number of shares of Warrant Stock to be sold by any Tag-Along Offeree it, (y) such Initial Holder's power and authority to effect such transfer and (z) such matters pertaining to compliance with securities law as the transferee may reasonably require.
(b) Notwithstanding the foregoing, the provisions of Section 7.01(a) shall not exceed the same proportion as the number apply to any transfer, sale or disposition of shares of Common Stock to be Transferred by the Tag-Along Initiator bears Principal Shareholder (i) to any of its Affiliates, PROVIDED that, any further sale, disposition or transfer by such Affiliate transferee shall be subject to the number provisions of shares this Section 7.01(a), (ii) in an ordinary brokerage transaction pursuant to Rule 144 or (iii) to a Principal Shareholder Beneficial Owner's spouse or the members of Stock held the Principal Shareholder Beneficial Owner's immediate family or to a custodian, trustee, executor, or other fiduciary for the account of the Principal Shareholder Beneficial Owner's spouses or members of the Principal Shareholder Beneficial Owner's immediate family, or to a trust for the Principal Shareholder Beneficial Owner's own self, PROVIDED, that each such transferee or assignee, prior to the completion of the sale, transfer, or assignment shall have executed documents assuming the obligations of the Principal Shareholder Beneficial Owner with respect to the transferred securities.
(c) On the date hereof, the Issuer shall deliver to the Initial Holders a joinder agreement substantially in the form attached hereto as Annex 4 (a "JOINDER AGREEMENT"), executed by the Tag-Along Initiator. The amount of Tag-Along Shares Issuer, the Principal Shareholder and the Principal Shareholder Beneficial Owners, pursuant to be sold by any Tag-Along Initiator shall be reduced to the extent necessary to provide for which such sales of shares by Tag- Along Offerees. No Person may Transfer shares in any transaction that is subject to this Section 5 unless the transferee agrees parties will agree to be bound by and complies with the terms provisions of this Article VII. As a condition to the validity of any sale, disposition or other transfer of any Common Stock by any of the Persons who have executed and delivered a Joinder Agreement pursuant to this Section 7.01 to any other Person, the transferee thereof shall execute and deliver to the Issuer and each Holder a Joinder Agreement.
(d) References in this Section 7.01 to Initial Holders shall include each Initial Holder's respective Affiliates to the extent that such Affiliates then hold Warrants or Warrant Stock.
Appears in 1 contract
Tag-Along Obligations. The Miletos Parties Any Senior Management Shareholder (the "Tag-Along Initiator") desiring to Transfer any shares of Stock shall shall, after expiration of all required notice periods under Section 5, give not less than 20 days prior written notice of such intended Transfer to each Investor other Shareholder ("Tag-Along Offeree") and to the Company. Such notice (the "Tag-Along Notice") shall set forth the terms and conditions of such proposed Transfer, including the name of the proposed transferee, the number of shares proposed to be transferred by the Tag-Along Initiator (the "Tag-Along Shares"), the purchase price per share proposed to be paid therefor and the payment terms and type of transfer to be effectuated. Within 10 days after delivery of the Tag-Along Notice by the Tag-Along Initiator to each Tag-Along Offeree and to the Company, each Tag-Along Offeree shall, by written notice to the Tag-Along Initiator and the Company, have the opportunity and right to sell to the transferee in such proposed Transfer (upon the same terms and conditions as the Tag-Along Initiator) up to that number of shares of such Stock owned by the Tag-Along Offeree as shall equal the product of (x) a fraction, the numerator of which is the number of shares of such Stock owned by the Tag-Along Offeree as of the date of the Tag-Along Notice and the denominator of which is the aggregate number of shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Initiator and all of the Tag-Along Offerees, times (y) the number of shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Offeree; provided, however, that the number of shares of Stock to be sold by any Tag-Along Offeree shall not exceed the same proportion as the number of shares of Stock to be Transferred by the Tag-Along Initiator bears to the number of shares of Stock held by the Tag-Along Initiator. The amount of Tag-Along Shares to be sold by any Tag-Along Initiator shall be reduced to the extent necessary to provide for such sales of shares by Tag- Along Offerees. No Person may Transfer shares in any transaction that is subject to this Section 5 6 unless the transferee agrees to be bound by and complies with the terms of this Agreement.
Appears in 1 contract
Samples: Shareholders' Agreement (Q Med Inc)
Tag-Along Obligations. The Miletos Parties Principals (the "Tag-Along Initiator") desiring to Transfer any shares of Stock shall give not less than 20 days prior written notice of such intended Transfer to each Investor of the Investors ("Tag-Along Offeree") and to the Company. Such notice (the "Tag-Along Notice") shall set forth the terms and conditions of such proposed Transfer, including the name of the proposed transferee, the number of shares proposed to be transferred by the Tag-Along Initiator (the "Tag-Along Shares"), the purchase price per share proposed to be paid therefor and the payment terms and type of transfer to be effectuated. Within 10 days after delivery of the Tag-Along Notice by the Tag-Along Initiator to each Tag-Along Offeree and to the Company, each Tag-Along Offeree shall, by written notice to the Tag-Along Initiator and the Company, have the opportunity and right to sell to the transferee in such proposed Transfer (upon the same terms and conditions as the Tag-Along Initiator) up to that number of shares of such Stock owned by the Tag-Along Offeree as shall equal the product of (x) a fraction, the numerator of which is the number of shares of such Stock owned by the Tag-Along Offeree as of the date of the Tag-Along Notice and the denominator of which is the aggregate number of shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Initiator and all of the Tag-Along Offerees, times (y) the number of shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Offeree; provided, however, that the number of shares of Stock to be sold by any Tag-Along Offeree shall not exceed the same proportion as the number of shares of Stock to be Transferred by the Tag-Along Initiator bears to the number of shares of Stock held by the Tag-Along Initiator. The amount of Tag-Along Shares to be sold by any Tag-Along Initiator shall be reduced to the extent necessary to provide for such sales of shares by Tag- Along Offerees. No Person may Transfer shares in any transaction that is subject to this Section 5 unless the transferee agrees to be bound by and complies with the terms of this Agreement.
Appears in 1 contract
Samples: Shareholder Agreement (Dominix Inc)
Tag-Along Obligations. The Miletos Parties Any party (the "Tag-Along Initiator") desiring to transfer any Shares (not constituting an Exempt Transfer any shares of Stock pursuant to Section 2.3(g)) shall give not less than 20 days prior written notice of such intended Transfer transfer to each Investor other party to this Agreement ("Tag-Along Offeree") and to the Company. Such notice (the "Tag-Along Notice") shall set forth the terms and conditions of such proposed Transfertransfer, including the name of the proposed transferee, the number of shares Shares proposed to be transferred by the Tag-Along Initiator (the "Tag-Along Shares"), the purchase price per share Share proposed to be paid therefor and the payment terms and type of transfer to be effectuated. Within 10 days after delivery of the Tag-Along Notice by the Tag-Along Initiator to each Tag-Along Offeree and to the CompanyNotice, each Tag-Along Offeree shall, by written notice to the Tag-Along Initiator and the Company, have the opportunity and right to sell to the transferee in such proposed Transfer transfer (upon the same terms and conditions as the Tag-Along Initiator) up to that number of shares of such Stock Shares owned by the Tag-Along Offeree as shall equal the product of (xi) a fraction, the numerator of which is the number of shares of such Stock Shares owned by the Tag-Along Offeree as of the date of the Tag-Along Notice and the denominator of which is the aggregate number of shares of such Stock Shares owned as of the date of the Tag-Along Notice by the Tag-Along Initiator and all of the Tag-Along Offerees, times (yii) the number of shares of such Stock Shares owned as of the date of the Tag-Along Notice by the Tag-Along Offeree; provided, however, that the number of shares of Stock Shares to be sold by any Tag-Along Offeree shall not exceed the same proportion as the number of shares of Stock Shares to be Transferred transferred by the Tag-Along Initiator bears to the number of shares of Stock Shares held by the Tag-Along Initiator. The amount of Tag-Along Shares to be sold by any Tag-Along Initiator shall be reduced to the extent necessary to provide for such sales of shares Shares by Tag- Tag-Along Offerees. No Person may Transfer shares in any transaction that is subject to this Section 5 unless the transferee agrees to be bound by and complies with the terms of this Agreement.
Appears in 1 contract
Samples: Shareholders Rights Agreement (Beacon Education Management Inc)
Tag-Along Obligations. The Miletos Parties Any Shareholder (the "Tag-Along Initiator") desiring to Transfer any shares of Stock shall in one transaction or a series of related transactions which in the aggregate represent at least 5% of the then outstanding Common Stock shall, after expiration of all required notice periods under Section 5, give not less than 20 days days' prior written notice of such intended Transfer to each Investor other Shareholder ("Tag-Along Offeree") and to the Company. Such notice (the "Tag-Along Notice") shall set forth the terms and conditions of such proposed Transfer, including the name of the proposed transferee, the number of shares proposed to be transferred by the Tag-Along Initiator (the "Tag-Along Shares"), the purchase price per share proposed to be paid therefor and the payment terms and type of transfer to be effectuated. Within 10 days after delivery of the Tag-Along Notice by the Tag-Along Initiator to each Tag-Along Offeree and to the Company, each Tag-Along Offeree shall, by written notice to the Tag-Along Initiator and the Company, have the opportunity and right to sell to the transferee in such proposed Transfer (upon the same terms and conditions as the Tag-Along Initiator) up to that number of shares of such Stock owned by the Tag-Along Offeree as shall equal the product of (x) a fraction, the numerator of which is the number of shares of such Stock owned by the Tag-Along Offeree as of the date of the Tag-Along Notice proposed Transfer and the denominator of which is the aggregate number of shares of such Stock owned as of the date of the Tag-Along Notice by the each Tag-Along Initiator and by all of the other Tag-Along Offerees, times (y) the number of shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Offeree; provided, however, that the number of shares of Stock to be sold by any Tag-Along Offeree shall not exceed the same proportion as the number of shares of Stock to be Transferred by the Tag-Along Initiator bears to the number of shares of Stock held by the Tag-Along InitiatorShares. The amount of Tag-Along Shares to be sold by any Tag-Along Initiator shall be reduced to the extent necessary to provide for such sales of shares by Tag- Tag-Along Offerees. No Person may Transfer shares in any transaction that is subject to this Section 5 6 unless the transferee agrees to be bound by and complies with the terms of this Agreement.
Appears in 1 contract
Samples: Shareholders' and Voting Agreement (Crown Theatre Corp)
Tag-Along Obligations. The Miletos Parties Any Major Shareholder (the "Tag-Along Initiator") desiring to Transfer ------------------- any shares of Stock shall shall, after expiration of all required notice periods under Section 5, give not less than 20 days 10 days' prior written notice of such intended Transfer to each Investor Major Shareholder ("Tag-Along Offeree") and to the Company. ----------------- Such notice (the "Tag-Along Notice") shall set forth the terms and conditions of ---------------- such proposed Transfer, including the name of the proposed transferee, the number of shares of such Stock proposed to be transferred by the Tag-Along Initiator (the "Tag-Along Shares"), the purchase price per share Tag-Along Share of ---------------- such Stock proposed to be paid therefor and the payment terms and type of transfer Transfer to be effectuated. Within 10 days after delivery of the Tag-Along Notice by the Tag-Along Initiator to each Tag-Along Offeree and to the Company, each Tag-Along Offeree shall, by written notice to the Tag-Along Initiator and the Company, have the opportunity and right to sell to the transferee in such proposed Transfer Tag Along offer (upon the same terms and conditions as the Tag-Along Initiator) up to that number of shares of such Stock owned by the Tag-Along Offeree as shall equal to the product of (x) a fraction, the numerator of which is the number of shares of such Stock owned by the Tag-Along Offeree as of the date of the Offeree's Tag-Along Notice and the denominator of which is Ratio multiplied by (y) the aggregate number of shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Initiator and all of the Tag-Along Offerees, times (y) the number of shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Offeree; provided, however, that the number of shares of Stock to be sold by any Tag-Along Offeree shall not exceed the same proportion as the number of shares of Stock to be Transferred by the Tag-Along Initiator bears to the number of shares of Stock held by the Tag-Along InitiatorShares. The amount of Tag-Tag- Along Shares to be sold by any Tag-Along Initiator shall be reduced to the extent necessary to provide for such sales of shares of such Stock by Tag- Tag-Along Offerees. No Person may Transfer shares in any transaction that is subject to this Section 5 6 unless the transferee agrees to be bound by and complies with the terms of this Agreement.
Appears in 1 contract
Samples: Shareholders' and Voting Agreement (Intek Information Inc)
Tag-Along Obligations. The Miletos Parties (a) If at any time the Principal Shareholder or any Affiliate (other than the Company) of the Principal Shareholder that has such Affiliate status solely by virtue of his, her or its status as an Affiliate of the Issuer ("TAG-ALONG SELLER") shall, in one or in a series of transactions, enter into an agreement to effect, or effect or propose to effect, an Applicable Disposition to any transferee (a "TAG-ALONG SALE"), Initial Holder shall have the right, but not the obligation, to participate in such Tag-Along Initiator") desiring Sale by selling up to Transfer any shares of Stock shall give not less than 20 days prior written notice of such intended Transfer to each Investor ("Tag-Along Offeree") and to the Company. Such notice (the "Tag-Along Notice") shall set forth the terms and conditions of such proposed Transfer, including the name of the proposed transferee, the number of shares proposed to be transferred by the Tag-Along Initiator (the "Tag-Along Shares"), the purchase price per share proposed to be paid therefor and the payment terms and type on an aggregate basis) of transfer to be effectuated. Within 10 days after delivery of the Tag-Along Notice by the Tag-Along Initiator to each Tag-Along Offeree and Warrant Stock subject to the Company, each Tag-Along Offeree shall, by written notice to the Tag-Along Initiator Warrant and the Company, have the opportunity and right to sell to the transferee in such proposed Transfer (upon the same terms and conditions as the Tag-Along Initiator) up to that number of shares of such Warrant Stock owned by the Tag-Along Offeree as shall equal to the product of (xi) the total number of shares (on an aggregate basis) of Common Stock proposed to be sold in the proposed Tag-Along Sale multiplied by (ii) a fraction, the numerator of which is equal to the number of shares (on an aggregate basis) of Warrant Stock subject to Warrant and shares of Warrant Stock owned by Initial Holder immediately prior to the Tag-Along Sale, and the denominator of which is equal to (A) the number of shares of such Common Stock owned by the Tag-Along Offeree as of the date of Seller immediately prior to the Tag-Along Notice Sale plus (B) the number of shares (on an aggregate basis) of Warrant Stock subject to the Warrant and shares of Warrant Stock owned by such holder together with the denominator of which is the aggregate number of shares of such Common Stock owned as of the date of by any holder thereof who has similar "tag-along" rights and elects to exercise such rights in connection with the Tag-Along Notice Sale, in each case immediately prior to the Tag-Along Sale. Any such sales by Initial Holder shall be on the same terms and conditions as the proposed Tag-Along Sale by the Tag-Along Initiator and all of Seller, except Initial Holder shall not be required to make any representations or warranties except as to (x) its title to the Tag-Along Offerees, times (y) the number of Warrant or shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Offeree; provided, however, that the number of shares of Warrant Stock to be sold by any Tag-Along Offeree it, (y) Initial Holder's power and authority to effect such transfer and (z) such matters pertaining to compliance with securities law as the transferee may reasonably require.
(b) Notwithstanding the foregoing, the provisions of SECTION 7.01(a) shall not exceed the same proportion as the number apply to any transfer, sale or disposition of shares of Common Stock to be Transferred by the Tag-Along Initiator bears Principal Bechtel Warrant Agreement Shareholder (i) to any of its Affiliates, PROVIDED that, any further sale, disposition or transfer by such Affiliate transferee shall be subject to the number provisions of shares this SECTION 7.01(a), (II) in an ordinary brokerage transaction pursuant to Rule 144 or (iii) to a Principal Shareholder Beneficial Owner's spouse or the members of Stock held the Principal Shareholder Beneficial Owner's immediate family or to a custodian, trustee, executor, or other fiduciary for the account of the Principal Shareholder Beneficial Owner's spouses or members of the Principal Shareholder Beneficial Owner's immediate family, or to a trust for the Principal Shareholder Beneficial Owner's own self, PROVIDED, that each such transferee or assignee, prior to the completion of the sale, transfer, or assignment shall have executed documents assuming the obligations of the Principal Shareholder Beneficial Owner with respect to the transferred securities.
(c) On the date hereof, the Issuer shall deliver to Initial Holder a joinder agreement substantially in the form attached hereto as ANNEX 3 (a "JOINDER AGREEMENT"), executed by the Tag-Along Initiator. The amount of Tag-Along Shares Issuer, the Principal Shareholder and the Principal Shareholder Beneficial Owners, pursuant to be sold by any Tag-Along Initiator shall be reduced to the extent necessary to provide for which such sales of shares by Tag- Along Offerees. No Person may Transfer shares in any transaction that is subject to this Section 5 unless the transferee agrees parties will agree to be bound by and complies with the terms provisions of this ARTICLE VII. As a condition to the validity of any sale, disposition or other transfer of any Common Stock by any of the Persons who have executed and delivered a Joinder Agreement pursuant to this SECTION 7.01 to any other Person, the transferee thereof shall execute and deliver to the Issuer and each Holder a Joinder Agreement. Bechtel Warrant Agreement
(d) References in this SECTION 7.01 to Initial Holder shall include Initial Holder's Affiliates to the extent that such Affiliates then hold Warrants or Warrant Stock.
Appears in 1 contract
Tag-Along Obligations. The Miletos Parties (a) If at any time the Principal Shareholder or any Affiliate (other than the Company) of the Principal Shareholder that has such Affiliate status solely by virtue of his, her or its status as an Affiliate of the Issuer ("TAG-ALONG SELLER") shall, in one or in a series of transactions, enter into an agreement to effect, or effect or propose to effect, an Applicable Disposition to any transferee (a "TAG-ALONG SALE"), the Initial Holder shall have the right, but not the obligation, to participate in such Tag-Along Initiator") desiring Sale by selling up to Transfer any shares of Stock shall give not less than 20 days prior written notice of such intended Transfer to each Investor ("Tag-Along Offeree") and to the Company. Such notice (the "Tag-Along Notice") shall set forth the terms and conditions of such proposed Transfer, including the name of the proposed transferee, the number of shares proposed (on an aggregate basis) of Warrant Stock subject to be transferred by the Tag-Along Initiator (the "Tag-Along Shares"), the purchase price per share proposed to be paid therefor Warrants and the payment terms and type of transfer to be effectuated. Within 10 days after delivery of the Tag-Along Notice by the Tag-Along Initiator to each Tag-Along Offeree and to the Company, each Tag-Along Offeree shall, by written notice to the Tag-Along Initiator and the Company, have the opportunity and right to sell to the transferee in such proposed Transfer (upon the same terms and conditions as the Tag-Along Initiator) up to that number of shares of such Warrant Stock owned by the Tag-Along Offeree as shall equal to the product of (xi) the total number of shares (on an aggregate basis) of Common Stock proposed to be sold in the proposed Tag-Along Sale multiplied by (ii) a fraction, the numerator of which is equal to the number of shares (on an aggregate basis) of Warrant Stock subject to Warrants and shares of Warrant Stock owned by the Initial Holder immediately prior to the Tag-Along Sale, and the denominator of which is equal to (A) the number of shares of such Common Stock owned by the Tag-Along Offeree as of the date of Seller immediately prior to the Tag-Along Notice Sale plus (B) the number of shares (on an aggregate basis) of Warrant Stock subject to Warrants and shares of Warrant Stock owned by such holder together with the denominator of which is the aggregate number of shares of such Common Stock owned as of the date of by any holder thereof who has similar "tag-along" rights and elects to exercise such rights in connection with the Tag-Along Notice Sale, in each case immediately prior to the Tag-Along Sale. Any such sales by the Initial Holder shall be on the same terms and conditions as the proposed Tag-Along Sale by the Tag-Along Initiator and all of Seller, except the Tag-Along Offerees, times Initial Holder shall not be required to make any representations or warranties except as to (yx) its title to the number of Warrants or shares of such Stock owned as of the date of the Tag-Along Notice by the Tag-Along Offeree; provided, however, that the number of shares of Warrant Stock to be sold by any Tag-Along Offeree it, (y) the Initial Holder's power and authority to effect such transfer and (z) such matters pertaining to compliance with securities law as the transferee may reasonably require.
(b) Notwithstanding the foregoing, the provisions of Section 7.01(a) shall not exceed the same proportion as the number apply to any transfer, sale or disposition of shares of Common Stock to be Transferred by the Tag-Along Initiator bears Principal Shareholder (i) to any of its Affiliates, PROVIDED that, any further sale, disposition or transfer by such Affiliate transferee shall be subject to the number provisions of shares this Section 7.01(a), (ii) in an ordinary brokerage transaction pursuant to Rule 144 or (iii) to a Principal Shareholder Beneficial Owner's spouse or the members of Stock held the Principal Shareholder Beneficial Owner's immediate family or to a custodian, trustee, executor, or other fiduciary for the account of the Principal Shareholder Beneficial Owner's spouses or members of the Principal Shareholder Beneficial Owner's immediate family, or to a trust for the Principal Shareholder Beneficial Owner's own self, PROVIDED, that each such transferee or assignee, prior to the completion of the sale, transfer, or assignment shall have executed documents assuming the obligations of the Principal Shareholder Beneficial Owner with respect to the transferred securities.
(c) On the date hereof, the Issuer shall deliver to the Initial Holder a joinder agreement substantially in the form attached hereto as Annex 4 (a "JOINDER AGREEMENT"), executed by the Tag-Along Initiator. The amount of Tag-Along Shares Issuer, the Principal Shareholder and the Principal Shareholder Beneficial Owners, pursuant to be sold by any Tag-Along Initiator shall be reduced to the extent necessary to provide for which such sales of shares by Tag- Along Offerees. No Person may Transfer shares in any transaction that is subject to this Section 5 unless the transferee agrees parties will agree to be bound by and complies with the terms provisions of this Article VII. As a condition to the validity of any sale, disposition or other transfer of any Common Stock by any of the Persons who have executed and delivered a Joinder Agreement pursuant to this Section 7.01 to any other Person, the transferee thereof shall execute and deliver to the Issuer and each Holder a Joinder Agreement.
(d) References in this Section 7.01 to the Initial Holder shall include the Initial Holder's respective Affiliates to the extent that such Affiliates then hold Warrants or Warrant Stock.
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