French Equity definition
Examples of French Equity in a sentence
If the France Closing (as such term is defined below) occurs after the Principal Closing, on the France Closing, Buyer shall deliver, or cause to be delivered, the French Consideration to Sapphire or its designee(s) by wire transfer of immediately available funds to an account designated in writing by Sapphire and the Transfer Agreements relating to the French Equity in the manner set forth in Section 2.09(b), Section 2.15(d) and Section 2.16(d), as applicable.
Subject to acceptance of the French Offer by Sapphire (or its relevant Subsidiary) following the completion of the information process described in this Section 2.15 and upon delivery to Buyer of the executed French Put Option (the “France Put Option Exercise”), this Agreement shall apply to the French Equity and the French Equity shall be included in the Transferred Entities.
The issued and outstanding equity interests of the Italian Company consist of one quota with a nominal value of €12,911 (the “Italian Equity Interest” and, together with the German Equity Interest and the French Equity Interests, the “Acquired Companies Equity Interests”).
Sapphire shall conduct and cause its relevant Subsidiary to (i) conduct the Information Process in the most expedient way practicable and (ii) request written notifications from each and every employee of ▇▇▇▇▇▇ Re SAS stating that they waive their right to submit an offer to acquire the French Equity.
Notwithstanding anything to the contrary in this Agreement, unless and until Sapphire (or its relevant Subsidiary) has exercised the Put Option in respect of France (the “French Put Option”), the French Equity will not be considered to constitute a Transferred Entity and, if no such French Put Option is exercised prior to the Principal Closing, the Preliminary Upfront Purchase Price shall be reduced by the French Consideration (as such term is defined below).