Obliged Shareholder definition

Obliged Shareholder has the meaning defined in section 11.1;
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Examples of Obliged Shareholder in a sentence

  • If there is only one Accepting Shareholder, the Obliged Shareholder shall sell, and the Accepting Shareholder shall purchase all Sale Shares for the Sale Price, on terms and conditions set out in the Notice of Sale, unless they decide otherwise.

  • The Obliged Shareholder shall, without undue delay, deliver the Transfer Notice to the Entitled Shareholder.

  • The Eligible Shareholders shall be entitled to exercise the ROFR in respect of all the Sale Shares by providing the Obliged Shareholder with an irrevocable written commitment to purchase the Sale Shares (the “ROFR Notice”) within [1 (one) month] following the service of the Notice of Sale (the “Accepting Shareholders”).

  • The Transfer Notice shall be considered an irrevocable offer of the Obliged Shareholder to enter into an agreement on future agreement on transfer of the Shares of the Obliged Shareholder to the Entitled Shareholder and assignment of the receivables of the Obliged Shareholder from loans and the like towards the Company, addressed to the Entitled Shareholder.

  • The Parties agree that the Entitled Shareholder may deliver a written response to the Obliged Shareholder within 120 days following the day of delivery of the Transfer Notice to the Entitled Shareholder.

  • If the Entitled Shareholder breaches the obligation to enter into the Future Agreement, the Obliged Shareholder may withdraw from the agreement on future agreement and within 60 days from such withdrawal it is entitled to conclude an agreement on transfer of the Shares under the terms specified in its Transfer Notice as if the Pre- emption Right was not exercised.

  • The Party intending to transfer its Shares to a third person (i.e. the Person Interested) for or without consideration (i.e. the Obliged Shareholder), shall offer the other Party (i.e. the Entitled Shareholder) for sale all its Shares under the terms stated in this Article 16.

  • If the Obliged Shareholder intends to dispose of the Sale Shares to the Proposed Purchaser, the Investor shall be entitled to join the Obliged Shareholder and sell respectively all or part of its Shares (in such case, in the same proportion of Shares in which the Obliged Shareholder intends to sell its Shares) (the “Tagged Shares”) to the Proposed Purchaser, under the same terms and conditions, including the same Sale Price per Share (the “Tag-Along Right”).

  • In the event that any of the Accepting Shareholders executes the ROFR SPA but fails to pay the Sale Price in full or proportionally to the Sale Shares ascribed to this Accepting Shareholder, as applicable, within the prescribed period, the Obliged Shareholder will be entitled to rescind from the ROFR SPA within [2 (two) months] from the date of its execution.

  • Should the intended transfer of the Shares occur during the Lock-up Period, the Transfer Notice shall be also considered a request of the Obliged Shareholder for consent of the Entitled Shareholder to a Disposition pursuant to Section 15.1.1 hereof.