Examples of Drag-Along Rights in a sentence
Practice Areas International Private Equity in China: Enforceability of Drag-Along Rights | Continued At the end of October 2008, after a lengthy trial, the Shanghai court recommended a settlement between the parties and the parties complied.
The rights and obligations of the Company Security Holders and the Company under Sections 2 (Board of Directors), 3 (Drag-Along Rights), 4 (Tag-Along Rights), 6 (Preemptive Rights), 7 (Conflicts of Interest), 8 (Additional Company Security Holders and Limitations on Transfers by Company Security Holders), 9 (Information Rights), 11 (Protective Covenants), and 23 (Issuances of Company Securities) shall terminate upon a Qualified IPO.
The Managing Member shall promptly give notice (a “ Drag-Along Notice”) to each of the other Members (the “Drag-Along Members”) not later than thirty (30) days prior to the consummation of the Third-Party Sale of any election by the Managing Member to exercise its Drag-Along Rights, setting forth the name and address of the Third-Party, the proposed amount and form of consideration for the Member Interests, and all other material terms and conditions of the Third-Party Sale.
SECTION 3.1. Rights and Obligations of Transferees SECTION 3.2. Restrictions on Transfers and Encumbrances SECTION 3.4. Right of Co-Sale SECTION 3.5. Drag-Along Rights SECTION 3.6. Put of Company Shares SECTION 3.7. Change of Control of Corp Group Parent SECTION 3.8. Right to Exchange Shares for Shares of Itaú Parent SECTION 3.9. Controlling Shareholder SECTION 3.10.
Drag-Along Rights Drag-along rights permit the holders of such rights to compel the other shareholders to sell their shares (or approve other transactions related to a sale of the business, such as a sale of assets) to a third party who has made such an offer.