Right of pre-emption. The French State has a right of pre-emption of works sold, by declaration upon adjudication, to the auctioneer. The state has 15 days to confirm the exercise of this right. In this case, he replaces the last bidder.
Right of pre-emption. In accordance with the provisions of articles L123-1 and L123-2 of the Code du Patrimoine, amended by the Law of 10 July 2000, the French State has a right of pre-emption over certain works of art sold at public auction. The State will then enter by way of subrogation into the rights of the highest bidder. This right must be exercised immediately after the hammer fall, and confirmed within a period of fifteen days following the sale. PIASA cannot be held liable for the conditions under which pre-emption is exercised by the French State.
Right of pre-emption. Any assignment of shares to a third party, in any capacity whatsoever, including by death, and even if this assignment only concerns the bare ownership or usufruct of the shares, to the benefit of a third party, is subject to compliance with the right of pre-emption reserved for the other shareholders of the Company, defined in the terms below. The assigning shareholder must notify their proposal to the manager, indicating the information (i) on the assignee (name, address and nationality or, in the case of a legal entity, name, registered office, capital, Trade and Companies Register number, identity of the shareholders and managers), (ii) and on the numberof shares, the price and the conditions of the proposed assignment. Within a period of 15 days of the notification, the manager shall notify this proposal to the other