Dragged Seller definition

Dragged Seller has the meaning given to it in paragraph 1.1 of Part B of Schedule 2; "Effective Time" means the date of this Agreement;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Dragged Seller has the meaning set forth in Section 9.1.1.

Dragged Seller means a Seller that has become bound to the terms of this Agreement pursuant to the exercise of a power of attorney granted by such Seller under the terms of the Drag-Along Right in Section 3 and the Irrevocable Proxy and Power of Attorney in Section 6.2 of the Company’s Amended and Restated Shareholder Agreement made as of May 10, 2018 by and among the Company and all its shareholders, as the same may be amended from time to time.

Examples of Dragged Seller in a sentence

• Any such indemnification and/or assumption of liabilities shall be several and not joint and several in nature with respect to a Dragged Seller.

• Notwithstanding anything to the contrary herein, the liability of a Dragged Seller pursuant to this Agreement shall not exceed such Dragged Seller’s Pro Rata Share of the Purchase Price actually received by such Dragged Seller.

• Thereafter, the Company shall release the aggregate Drag Price due to each Dragged Seller under this Section 6.8 (less the amount of costs to be borne pursuant to Section 6.8(c)) in respect of its Drag Shares following delivery to the Company by such Dragged Seller of the documents required under this Section 6.8.

• On, but not before, such surrender or provision, the Defaulting Dragged Seller shall be entitled to the aggregate Drag Price for its Drag Shares transferred on its behalf without interest.

More Definitions of Dragged Seller

Dragged Seller means any Seller (other than an Executing Shareholder) required pursuant to the Drag Along Notice to sell his Shares to Buyer in accordance with the Articles and to execute and deliver the Drag Documents.