ELECTION BY HOLDERS. Upon receipt of a Notice of Sale, each holder of Purchaser Shares shall have 20 days to deliver written notice of its election to participate in such sale and the number of Issuable Shares which it elects to sell, which number shall not exceed its proportionate amount.
Appears in 2 contracts
Samples: Stockholders Agreement (Scharf Micheal J), Stockholders Agreement (Niagara Corp)
ELECTION BY HOLDERS. Upon receipt of a Notice of Sale, each holder of Purchaser Shares shall have 20 twenty (20) days to deliver written notice (the "Tag-Along Notice") of its election to participate in such sale and the number of Issuable Shares which it elects to sell, which number shall not exceed its proportionate amount. Subject to Section 1.4, upon delivery of a Tag-Along Notice, each holder of Purchaser Shares shall be obligated to sell on the terms set forth in the Notice of Sale the number of Issuable Shares specified in its Tag-Along Notice.
Appears in 1 contract
Samples: Stockholders Agreement (Marketing Specialists Corp)
ELECTION BY HOLDERS. Upon receipt of a Notice of Sale, each holder of Purchaser Shares Bundled Securities shall have 20 twenty (20) days to deliver written notice of its election to participate in such sale and the number of Issuable Shares Units which it elects to sell, which number shall not exceed its proportionate amount.
Appears in 1 contract
Samples: Members' Agreement (Trex Co Inc)
