Transfer Shares definition
Examples of Transfer Shares in a sentence
The Offer Notice shall constitute an irrevocable offer by the Selling Shareholder to sell all the Transfer Shares to the Company (to the fullest extent allowed under Applicable Laws) and the other Shareholders (in the event the Company does not exercise its right to purchase the Transfer Shares).
In the event the Company exercises its right to purchase the Transfer Shares within the Company Offer Period, the Company shall indicate its decision to the Selling Shareholder and the Selling Shareholder shall be compelled to sell the Transfer Shares to the Company within fifteen (15) Business Days after the Company has obtained all requisite approvals under the Act, the Constitution and any Applicable Law to acquire the Transfer Shares.
If an Offered Shareholder does not serve its ROFR Notice in accordance with this Clause, it shall be deemed to have declined to subscribe for its entitlement to the Transfer Shares pursuant to the Offer Notice.
In the event that the Accepting Shareholder wishes to acquire more than its Pro Rata Share of the Transfer Shares, such Accepting Shareholder (each, an “Oversubscribing Accepting Shareholder”) shall also give notice of the same in the ROFR Notice, stating the number of additional Transfer Shares that it proposes to acquire (beyond its Pro Rata Share of the Transfer Shares).
The Accepting Shareholder shall be bound to make payment to the Selling Shareholder of the Transfer Price for the Transfer Shares at the same time as delivery of the Transfer Documents by the Selling Shareholder.