Secondary Sale. The Borrower acknowledges and agrees that: (i) pursuant to Clause 12.3 (Disposals), the Borrower is restricted from selling, leasing, transferring or otherwise disposing of any asset, including all or a portion of its legal or beneficial interests in Qoros without the prior written consent of the Lender; and (ii) to the extent that the Lender provides its prior written consent for any such sale, lease, transfer or disposal, the Company shall be required to use any such proceeds (the “Transfer Proceeds”):
Secondary Sale. The Company will, from time to time on request and at its own expense, do and execute or procure to be done and executed all necessary acts, deeds, documents and things in a form satisfactory to the Subscriber that the Subscriber reasonably considers necessary to effect and/or facilitate the placing, or the offer to the public, or the admission to trading on a regulated market of the 2009 Preference Shares, or any Ordinary Shares acquired as a result of holding any 2009 Preference Shares or the Warrants (a “Secondary Sale”), including:
Secondary Sale. Simultaneous with the Merger, Company Parent shall conduct the Secondary Sale pursuant to which Company Parent shall receive proceeds in an aggregate amount, and at a per-share price, to be agreed upon by Parent and Company Parent, such agreement not to be unreasonably withheld, delayed or conditioned by either Parent or Company Parent.
Secondary Sale. The Class A Member and the Manager acknowledge and agree that on any sale, lease, transfer or other disposal by the Company of any asset, including all or a portion of its legal or beneficial interests in Qoros Automotive Co., Ltd. (“Qoros”), the Company shall be required to use any net proceeds from such sale, lease, transfer or disposal (the “Transfer Proceeds”) as follows:
Secondary Sale. The Company and the Promoter shall undertake a process of a secondary/ third-party sale of the Equity Securities of the Investor held in the Company at a price acceptable to the Investor (“Secondary Sale”), and the Company shall, and the Promoter shall cause the Company to, take all necessary actions on best effort basis to undertake the Secondary Sale. The terms and conditions of the Secondary Sale shall be subject to the consent of the Investor.
Secondary Sale. Subject to the terms and conditions of this Agreement, the Company, at any time after September 30, 2018 and prior to the completion of Listing or September 30, 2023 (whichever is earlier) shall, if so required by the Investor(s), facilitate an exit to such Investor(s) by procuring a purchaser for the Equity Shares/Share Equivalents held by such Investor(s), at a price and on terms and conditions, acceptable to the relevant Investor(s) exercising such a right, provided that in the event the Company is unable to provide an exit to the aforementioned Investors, such Investors shall be entitled to exercise their rights for SFB Listing during the Listing Period in accordance with Section 4.15(b) below.
Secondary Sale. A Secondary Sale is a sale of any Company equity security by any Major Shareholder where a “Major Shareholder” is any individual or entity owning more than 5% of the Company’s securities on a fully diluted basis. In the event of a Secondary Sale, Holder may, at Holder’s option, sell its Warrant Shares in such Secondary Sale up to 15% of the total sale.
Secondary Sale. In connection with and as part of the IPO, Feeder Fund will (on behalf of the Continuing LP Investors)) exchange Class B LP Units for Class A Common Stock for participation on a pro rata basis in the secondary offering included as part of the IPO (the “Secondary Sale”). The proceeds from the Secondary Sale will be distributed to the Continuing LP Investors in their capacity as limited partners of Feeder Fund at or promptly following the IPO Closing.
Secondary Sale. (i) In the event the Company intends to provide an exit by way of a secondary sale (as approved by the Investor), the Company shall deliver a notice to the Investor (the “Secondary Sale Notice”), setting out the following: (A) the identity of the proposed acquirer or transferee, as the case may be; (B) the salient terms of the transaction including the price and other terms on which the Securities are proposed to be sold; (C) the estimated time for completion of the secondary sale; and (D) any other material terms of the proposed secondary sale. Provided however that the consideration to be received by the Investor pursuant to such secondary sale shall not be less than the sum of the Investment Amount and an IRR of 20% (twenty percent).
Secondary Sale. 5.1 Subject to the events in clause 6.2 occurring, the parties hereby agree that, within 10 Business Days of Completion, a secondary sale transaction or transactions (the “Secondary Sale”) shall occur where, pursuant to the Secondary Sale SPA, the New Investor shall acquire a total of 11,153,246 Equity Shares at a price of US $0.8966 per share for an aggregate consideration of US $10,000,000.40 (the “Secondary Sale Shares”) from certain Shareholders (the “Secondary Sellers”) (such date, the “Secondary Sale Completion Date”).
