Examples of Rejected Shares in a sentence
The Rejected Shares shall be subject to the options granted to the Offeree Members pursuant to Section 9.2(c) below.
If there is only 1 Transferee Shareholder, all the Rejected Shares shall be offered to him.
If there is only 1 Offeree Shareholder and he does not accept the Sale Shares offered to him under Section 2.7.2.2(i)(b) above, the Sale Shares shall be deemed to be Rejected Shares and the Selling Shareholder shall be entitled to offer the Rejected Shares to any bona fide third party in accordance with Section 2.7.2.2(i)(e) below.
The Selling Shareholder shall procure that upon transfer of the Sale Shares and/or the Rejected Shares in accordance with Section 2.7.2.2(i)(d) above, any Directors of Stack Builder appointed by the Selling Shareholder to the Board of Directors of Stack Builder pursuant to the Stack Builder SHA shall immediately resign without any claims or recourse against Stack Builder.
The Member Acceptance Notice shall constitute a valid, legally binding and enforceable agreement for the sale and purchase of the Rejected Shares covered by the Member Acceptance Notice.
Upon receipt of the purchase consideration for the Sale Shares and/or Rejected Shares, Stack Builder shall effect the transfer of the Sale Shares and/or the Rejected Shares to the Transferee Shareholder(s).
If any Offeree entitled to give the said additional notice does not do so, the Rejected Shares that such Offeree had been entitled to purchase may instead be purchased by the Offerees who did give such notice, and so on from time to time until the Offerees are willing to purchase all of the Offered Shares or until they are not willing to purchase any more.
An Offeree Stockholder's Pro Rata Fraction shall be equal to the product obtained by multiplying the total number of Rejected Shares by a fraction, the numerator of which is the total number of Shares owned by such Offeree Stockholder, and the denominator of which is the total number of Shares held by all Offeree Stockholders, in each case as of the date of the Offer Notice.
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If the Company fails to purchase the Offered Shares by exercising its option under this Section 3.03(b) within the period provided, the Transferring Stockholder shall so notify the Offeree Stockholders promptly (the "Additional Offer Notice"), which Additional Offer Notice shall identify the Offered Shares that the Company has failed to purchase (the "Rejected Shares").