Transfer Stock definition
Examples of Transfer Stock in a sentence
In the event there are no Participating Parties, the Selling Stockholder may sell the Transfer Stock not purchased by the Company pursuant to Section 3.04 to the Third Party on the terms and conditions as set forth in the Third Party Offer.
The Company shall effect the purchase of the Transfer Stock, including payment of the purchase price, not more than five (5) Business Days after delivery of the Company Notice, and at such time the Selling Stockholder shall deliver to the Company a duly executed transfer signed by the Selling Stockholder and representing the Transfer Stock to be purchased by the Company.
Except as set forth in Section 3.05(c), the ROFR Parties who so exercise their rights (the “Participating Parties”) shall effect the purchase of the Transfer Stock, including payment of the purchase price, on the same terms and conditions as the Third Party Offer, and at such time the Selling Stockholder shall deliver to the Participating Parties a duly executed certificate representing the Transfer Stock to be purchased by the Participating Parties, each certificate to be properly endorsed for transfer.
Each ROFR Party shall then have the right, exercisable upon written notice to the Selling Stockholder within twenty (20) days after the receipt of the Second Notice, to purchase all or any portion, of its pro rata share of the Transfer Stock subject to the Second Notice and on the same terms and conditions as set forth therein.
The Transfer Stock so purchased shall thereupon be cancelled and cease to be issued and outstanding shares of the Company’s stock.