Examples of Dragged Securities in a sentence
The consideration payable by the Third Party Purchaser for the Dragged Securities must be solely in cash or cash equivalents and must be the same in value, on a per Security basis, as payable by the Third Party Purchaser to the Dragging Shareholders for their Securities of that same class.
Completion of the sale (including payment) of the Dragged Securities must take place on the same date as the completion of the sale of the Securities held by the Dragging Shareholders.
The Dragged Shareholders must, if requested by the Dragging Shareholder, represent and warrant to the Third Party Purchaser that they are the legal owners of the Dragged Securities and have full power and authority to Transfer their Securities free of any Encumbrances but will not be required to provide any other representations or warranties.
GIF shall cause the sale of the Exit Dragged Securities to the Exit Drag Purchaser within a period of 120 (one hundred twenty) Business Days from the date of the issue of the Required Transfer Notice to Transfer, upon the terms and conditions (including consideration for the Transfer) specified in the Required Transfer Notice.
The Sponsors upon receipt of a written notice from the Selling Investors shall be bound to immediately Transfer the Sponsor Dragged Securities to the Drag Purchaser.
The Dragged Shareholders (other than the Sponsors) shall not be required to make any representation or warranty to the Exit Drag Purchaser, other than as to good title to the Exit Dragged Securities, absence of liens with respect to the Exit Dragged Securities, customary representations and warranties concerning the relevant Investors’ power and authority to undertake the proposed Transfer.
The Dragged Shareholders upon receipt of the Required Transfer Notice from GIF shall be bound to sell the Exit Dragged Securities as indicated by GIF in the Required Transfer Notice to the Exit Drag Purchaser, provided that GIF is selling its entire shareholding to such Exit Drag Purchaser.
The delivery by the Selling Shareholder(s) of an irrevocable Drag-Along Offer to a Drag-Along Offeree shall bind the Drag-Along Offeree to sell its Dragged Securities and Shareholder Debt.
It is clarified that if any Equity Securities are not sold to the Exit Drag Purchaser and/or does not form part of Exit Dragged Securities, then the holders of such Equity Securities shall not be entitled to distribution in accordance with this Article 6.10.