Examples of Tagging Member in a sentence
Each such Tagging Member shall have five (5) Business Days to notify the Tag-Along Seller of its election to sell all or a portion of the Reallotment Units.
If the proposed transferee fails to purchase the interest of any Tagging Member after it has properly exercised its Tag-Along Rights, then such Westxxxxx Xxxber shall not be permitted to make the proposed Transfer, and any such attempted Transfer shall be void and of no effect.
Delivery of a Tag Notice shall constitute an irrevocable and unconditional offer by such Tagging Member to sell to the Proposed Tag Purchasers the number of Class A Units or Class A-2 Units set forth therein on the same terms and conditions as set forth in the Sale Notice; provided that such Tagging Member shall not be obligated to consummate such Transfer if the Transferring Member(s) either fail to sell their Offered Units or otherwise deviate from the terms set forth in such Sale Notice.
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There shall be no liability on the part of the Selling Members to any Tagging Member if the sale of Company Interests pursuant to this Section 9.1 is not consummated for whatever reason.
Upon the giving of an Amended Tag-Along Opportunity Notice to a Member that had previously provided a Tag-Along Exercise Notice, such Tagging Member shall be permitted to cancel its exercise of its rights under this Section 9.1 upon delivery within such twenty (20) Business Day period of written notice to the Selling Members and the Company to such effect and shall be released from its obligation hereunder.
The Selling Member and each Tagging Member will be responsible for its proportionate share (based on the Percentage Interest of each such Member participating in such sale) of the costs of the tag-along sale contemplated by this Section 12.6(a) to the extent not paid or reimbursed by the proposed purchaser.
To the extent that the Third Party Purchaser refuses to purchase Units from an exercising Tagging Member, the Transferring Member shall not Transfer any Subject Units to such Third Party Purchaser unless and until, simultaneously with such Transfer, the Transferring Member shall purchase the applicable number of Units from the exercising Tagging Member for the same consideration and on the same terms and conditions as the Transferring Member receives from the Third Party Purchaser.
In order to be entitled to exercise its Tag-Along Rights, a Tagging Member must agree to make, severally but not jointly, the same representations, warranties, covenants and indemnities and other similar agreements as the Westxxxxx Xxxber agrees to make in connection with the proposed Transfer of its Units.
If any Tagging Member exercises its Tag-Along Rights, the closing of the purchase of its Units with respect to which such Tag-Along Rights have been exercised shall take place concurrently with the closing of the sale of the Westxxxxx Xxxber's Units.