Examples of Tranche 1 Completion Date in a sentence
The non- compete obligations of the Seller, FCL and their respective affiliates shall be applicable for a period of 5 (five) years from the Tranche 1 Completion Date, subject to certain exclusions and carve outs set out in the SPA.
Further, the Seller and FCL have agreed to certain non-solicit obligations under the SPA, which are applicable for a period of 3 (three) years from the Tranche 1 Completion Date.
Please note as set out in paragraph 2.1.9(c) of this DLOF, following the Tranche 1 Completion Date, the Seller and FCFL, who will collectively hold less than 10% ( Ten Percent) of the Voting Share Capital of the Target Company, will be reclassified from ‘promoters or promoter group’ to ‘public’, subject to the conditions specified under Regulation 31A of the LODR.
The SPA may be terminated at any time prior to the Tranche 1 Completion Date inter alia under the following circumstances: (i) breach of the standstill covenants which has not been cured within a period of 30 (thirty) days; (ii) non-fulfilment of the Tranche 1 Conditions prior to the Long Stop Date;(iii) on the occurrence of a Material Adverse Effect; (iv) if the Tranche 1 Completion Date has not occurred by the Long Stop Date; or (v) by mutual consent of the parties to the SPA.
As set out in paragraph 2.1.9 of this DLOF, following the Tranche 1 Completion Date, the Seller and FCFL, who will collectively hold less than 10% ( Ten Percent) of the Voting Share Capital of the Target Company, will be reclassified from ‘promoters or promoter group’ to ‘public’, subject to conditions specified under Regulation 31A of the LODR and the conditions specified therein.
Please note as set out in paragraph 2.1.9(c) of this LOF, following the Tranche 1 Completion Date and by such time as may be permitted under applicable law, the Seller and FCFL, who collectively hold less than 10% ( Ten Percent) of the Voting Share Capital of the Target Company, will be reclassified from ‘promoters or promoter group’ to ‘public’, subject to the conditions specified under Regulation 31A ofthe LODR.
Further, the Seller has agreed that the Tranche 1 Sale Shares shall be free of all encumbrances at the time of their transfer on the Tranche 1 Completion Date, and the Tranche 2 Sale Shares shall be free of all encumbrances at the time of the acquisition by the Acquirer of the Tranche 2 Sale Shares (“Tranche 2 Completion Date”).
Further, the Seller has agreed that theTranche 1 Sale Shares shall be free of all encumbrances at the time of their transfer on the Tranche 1 Completion Date, and the Tranche 2 Sale Shares shall be free of all encumbrances at the time of the acquisition by the Acquirer of the Tranche 2 Sale Shares (“Tranche 2 Completion Date”).
Accordingly, following the Tranche 1 Completion Date and by such time as may be permitted under applicable law, the Seller and FCFL, who will collectively hold less than 10% (Ten Percent) of the Voting Share Capital of the Target Company, will be reclassified from ‘promoters or promoter group’ to ‘public’, subject to the conditions specified under Regulation 31A of the LODR.
As set out in paragraph 2.1.9 of this LOF, following the Tranche 1 Completion Date and by such time as may be permitted under applicable law, the Seller and FCFL, who collectively hold less than 10% ( Ten Percent) of the Voting Share Capital of the Target Company, will be reclassified from ‘promoters or promoter group’ to ‘public’, subject to conditions specified under Regulation 31A of the LODR.