Examples of Second Offer Period in a sentence
At the end of the Second Offer Period, the Board shall offer the Initial Surplus Shares to all the Continuing Shareholders inviting them to apply in writing within the period from the date of the offer to the date fifteen (15) Business Days after the date of the offer (inclusive) (the “ Third Offer Period”) for the maximum number of the Initial Surplus Shares they wish to buy.
If, at the end of the Second Offer Period, the total number of Sale Shares applied for by both the Preferred Shareholders and the Ordinary Shareholders (other than the Seller) (the “ Continuing Shareholders”) is less than the number of Sale Shares, the Board shall allocate the Sale Shares to such Shareholders in accordance with their respective applications and the overall balance (the “Initial Surplus Shares”) will be dealt with in accordance with Article 14.8.
If, at the end of the Second Offer Period, the number of Initial Surplus Shares applied for is less than the number of Initial Surplus Shares, the Board shall allocate the Initial Surplus Shares to the Continuing Shareholders in accordance with their applications and the balance (the “ Second Surplus Shares”) will be offered to any other person in accordance with Article 12.9(e).
The failure of any of the Second Round Offerees to deliver a Second Purchase Notice by the end of the Second Offer Period shall be deemed to be a waiver solely with respect to its right to participate in the purchase of the Offered Shares then being sold pursuant to this Section 2.6 (and not with respect to any subsequent sales).
Such right shall be exercised by delivery of an irrevocable notice, prior to the expiration of the Second Offer Period, to the Company, with a copy to the Selling Shareholder, specifying the number of Offered Shares that such Second Round Offeree wishes to purchase (the “Second Purchase Notice”).
Each of the Other Series B Investors may exercise its Series B Second Option and thereby be entitled to purchase all or, pursuant to the provisions of the next succeeding sentence, a portion of the Series B Offered Shares, by notifying the Series B Selling Investor in writing (with a copy to each of the other Other Series B Investors) before the expiration of the Series B Second Offer Period as to its election to so purchase all of the Series B Offered Shares.
Each of the Other Series A Investors may exercise its Series A Second Option and thereby be entitled to purchase all or, pursuant to the provisions of the next succeeding sentence, a portion of the Series A Offered Shares, by notifying the Series A Selling Investor in writing (with a copy to each of the other Other Series A Investors) before the expiration of the Series A Second Offer Period as to its election to so purchase all of the Offered Shares.
Payment for the Series A Offered Shares shall be by check or wire transfer, against delivery of the Series A Offered Shares to be purchased, at a place agreed upon between the parties and at the time of the scheduled closing therefore, which shall be no later than forty-five (45) calendar days after the expiration of the Series A Second Offer Period.
Payment for the Series B Offered Shares shall be by check or wire transfer, against delivery of the Series B Offered Shares to be purchased, at a place agreed upon between the parties and at the time of the scheduled closing therefore, which shall be no later than forty-five (45) calendar days after the expiration of the Series B Second Offer Period.
If the Company accepts the Offer, the sale of the Offered Shares to the Company shall be made on a business day designated by the offering Management Stockholder, not less than 10 and not more than 30 days after expiration of the Second Offer Period on those terms and conditions set forth in the Offer not inconsistent with this Section 2.5.