Examples of Proposed Seller in a sentence
The Company and the Major Purchasers agree to keep the information contained in the First Refusal Notice confidential if so requested by the Proposed Seller.
Failure by a Major Purchaser to give such notice within such time period shall be deemed an election by it not to exercise its option; provided, however, that the exercise or non-exercise of the rights of each Major Purchaser hereunder to participate in one or more sales of the Proposed Seller’s shares made by the Proposed Seller shall not adversely affect their rights to participate in subsequent sales of the Proposed Seller’s shares subject to this Section 7.
Subject to Section 10.2, the rights granted to the Major Purchasers in Section 7.3 as to any proposed sales by a Proposed Seller may be waived as to all Major Purchasers upon the written consent of the holders of at least fifty percent (50%) of the Preferred Stock held by such Major Purchasers, voting together as a single class on an as-converted basis.
Without limiting the foregoing, any purported transfer in violation hereof shall be ineffective as against the Company, and the Company and the Major Purchasers shall have a continuing right and option (but not an obligation), until the restrictions contained in this Section 7 terminate, to purchase the securities purported to be transferred by the Proposed Seller in violation of this Section 7 for a price and on terms the same as those at which the purported transfer was effected.
Within ten (10) calendar days after the date the First Refusal Notice is deemed delivered, the Company shall give written notice to the Proposed Seller and to the Major Purchasers stating its intention to exercise such option, and a date and time for consummation of the purchase not less than ten (10) calendar days nor more than twenty (20) calendar days after the date the First Refusal Notice is deemed delivered.