Examples of Approved Sale in a sentence
At the closing of any Approved Sale pursuant to this Bye-law 16, each Member shall deliver such documents as the Company may reasonably request to Transfer the Shares or other securities (including, but not limited to, securities convertible into or exchangeable for Shares or options, warrants or other rights to purchase Shares) to be sold by such Member, against delivery of the applicable consideration.
Each Member acknowledges that its pro rata share (based upon the number of Shares owned (or acquirable pursuant to any option agreement) by such Member) of the aggregate proceeds of an Approved Sale may be reduced by such Member’s pro rata share of the transaction expenses related to such Approved Sale to the extent that such transaction expenses are not paid by the Company.
Notwithstanding anything to the contrary in this Bye-law 16, the holders of Series C Preference Shares shall be entitled to the amounts specified in Bye-law 4.8 if the Approved Sale constitutes a Liquidation Event.
The closing of an Approved Sale pursuant to this Bye-law 16 shall take place at such time and place as the Company or any other person triggering the Approved Sale shall specify by reasonable Notice to the other Members.