Selling Founder definition

Selling Founder has the meaning set forth in Section 5.3.
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Selling Founder. Section 3.4(a)
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Selling Founder means a Founder who is engaging in a transaction that gives rise to Tag-Along Rights by virtue of the sale of shares of Common Stock beneficially owned by that Founder.
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Examples of Selling Founder in a sentence

  • If an unaffiliated third party has made an offer to purchase ROFO/R Shares that the Selling Founder is desirous of accepting, the Transfer Notice shall also state the identity of the unaffiliated third party, all other particulars of the offer, and a sworn statement by the Selling Founder that he desires to accept such third party offer.

  • The Right of First Offer/Refusal shall be exercised, if at all, by the Company and the Founders Group within thirty (30) calendar days from the date the Transfer Notice is delivered to the Company and the Founders Group, by delivery of written notice to the Selling Founder of written notice of the exercise in full of the Right of First Offer/Refusal.

  • In the event the Selling Founder disagrees with such determination, and the Board of Directors and the Selling Founder are unable to resolve the disagreement, an independent third party selected and agreed upon by the Board of Directors and the Selling Founder shall arbitrate and finally resolve the disagreement.

  • At such time, the Selling Founder shall deliver to the Company the certificates representing the Target Shares to be repurchased, each certificate to be properly endorsed for transfer.

  • Investor shall have the right, exercisable upon written notice to the Selling Founder within 15 business days after receipt of the notice of the Purchase Offer, to participate in the Selling Founder's sale of Common Stock on the same terms and conditions.

  • If either of the Founders (the "Selling Founder") proposes to accept one or more bona fide offers (collectively, the "Purchase Offer") from any person or persons to purchase shares of the Common Stock from the Selling Founder, then the Selling Founder shall promptly notify Investor in writing of the terms and conditions of such Purchase Offer, including the purchase price, the identity of the proposed buyer and a copy of the Purchase Offer, if it is in writing.

  • To the extent Investor exercises such right of participation, the number of shares of Common Stock that the Selling Founder may sell pursuant to such Purchase Offer shall be correspondingly reduced.

  • The Selling Founder shall use his best efforts to interest the Proposed Transferee in purchasing, in addition to the Remaining Shares not subscribed for by the Investors, the Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock the Participating Investors wish to sell.

  • The cost of such appraisal shall be shared equally by the Selling Founder and the Company.

  • In the event the Selling Founder has not sold the Common Stock on the same terms and conditions as those set forth in the notice within such 120-day period, the Selling Founder shall not thereafter sell any Common Stock without first notifying the Investors in the manner provided above.

Related to Selling Founder

  • Selling Holders means, with respect to a specified registration pursuant to this Agreement, Holders whose Registrable Securities are included in such registration.

  • Selling Member has the meaning set forth in Section 10.5(a).

  • Founder means, in respect of an issuer, a person who,

  • Founders means all Members immediately prior to the consummation of the IPO.

  • The Purchaser means the organization purchasing the Goods, as named in SCC.

  • Selling Firm has the meaning given to it in Section 2(1);

  • Investor is defined in the preamble to this Agreement.

  • Purchaser means the organization purchasing the goods.

  • Third Party Purchaser has the meaning set forth in Section 3.1(a).