Proposed Sale definition
Examples of Proposed Sale in a sentence
If the Remaining Shareholders do not purchase all of the shares specified in the Notice of Proposed Sale, the selling shareholder may sell them to the proposed transferee specified in the Notice of Proposed Sale on the terms specified in that notice.
Within 30 days of notification of the Proposed Sale, any Shareholder who chooses shall notify the Secretary of the Corporation of his/her election to purchase a specified number of the offered shares.
The selling Shareholder may not, however, sell any or all of the offered shares to any other person or firm or at any other price or on any other terms and conditions than those specified in the Notice of Proposed Sale.
Except as provided in Section 3.01, any Shareholder wishing to sell his/her shares shall provide a Notice of Proposed Sale.
The Tag-Along Right may be exercised by a Selling Member by giving written notice to the Initiating Seller (the “Tag-Along Notice”) within 15 days following such Selling Member’s receipt of the Notice of Proposed Sale to Members (the “Tag-Along Period”).