Common use of Sell-Down Clause in Contracts

Sell-Down. In case of a Permitted Transfer or a Permitted Encumbrance or after expiry of the Standstill Period, DH may only initiate and effect a sale, transfer or other disposal of TA Financial Instruments in compliance with Law and in an orderly market manner, meaning, amongst other that DH shall not effect such sale, transfer or other disposal before the earlier of (i) the moment on which the final Cash Component Issuance has taken place and (ii) 1 July 2019, in each case provided that DH may effect a sale, transfer or other disposal of TA Financial Instruments to investors that would not customarily participate in an accelerated book build or similar capital markets transaction.