Examples of Drag Notice in a sentence
The Drag Notice will require each of the Dragged Shareholders to accept such offer in the Drag Notice within 21 days after the date that the Drag Notice is given.
If no legally binding agreement is reached between the Drag Buyer and the Dragged Shareholders within such period, then on that day which is 30 days after the date the Drag Notice is given, the Dragged Shareholders must sell all of their Shares to the Drag Buyer free from all encumbrances.
The Drag Notice must specify the identity of the Drag Sellers and Drag Buyer, the price payable for each Share, the completion date of the proposed sale and any other material terms of the proposed sale.
In such event, the Drag Sellers may require the Company to give notice of the terms of the proposed sale (Drag Notice) to the remaining Shareholders who have not agreed to sell the whole of their Shares to such Drag Buyer (Dragged Shareholders).
To the extent that the Drag-Along Transaction would otherwise complete in accordance with the provisions of this Article 5.8 on a day which is a day in a Closed Period, it shall instead complete on the next immediately following Business Day which is not within a Closed Period, in which case the Drag Notice shall be deemed to not have been lapsed.