TTSL definition
Examples of TTSL in a sentence
The applicable filing fee and economists’ costs (if any) in respect of the CCI Approval required under Clause 3.1(a) shall be shared equally among Purchaser on one hand and TTSL, TSL, IDFCPE III, MSIPL and SMIT on the other hand.
Of this, Rs. 37.89 should be indemnifiable severally by TTSL and the ▇▇▇▇▇▇▇ Block, for an amount of Rs. 19.63 and Rs. 18.26 respectively.
Without prejudice to the foregoing, a valid quorum for every meeting of the Board shall be deemed to be constituted only if at least (a) three (3) Directors nominated by the Investor and (b) one (1) Director nominated jointly by TTSL and TSL (such valid quorum requirements under the preceding clauses (a) and (b), the “Board Meeting Quorum”) are present at the beginning and throughout the meeting of the Board (the “Original Meeting”).
Additionally, to the extent this Agreement refers to a breach or default of TTL, this Agreement shall be interpreted such that a breach or default by TTSL or TTML, individually, shall constitute a breach or default by TTL.
None of the obligations of the ‘promoters’ shall be applicable to TTSL and TSL or MSIIPL, SMIT and IDFCPE III and TTSL and TSL and MSIIPL, SMIT and IDFCPE III shall not be required to offer or make available their Shares for the purposes of any mandatory lock-in as applicable to ‘promoters’ under the SEBI Regulations.
In the event any body or regulatory authority takes a view or draws an inference that any of TTSL and TSL or MSIIPL, SMIT and IDFCPE III is a promoter, the Investor shall cooperate to make such representations and make full disclosures to such body or authority as may be required to dispel or correct such inference or view.
Each of the Investor, TTSL and TSL (each, a “Minority Purchasing Shareholder”) shall have the right but not the obligation to, within a period of thirty (30) Business Days from receipt of the ROFO Notice (the “Minority ROFO Period”) issue a written notice to IDFCPE III, offering to purchase all, but not less than all, of the Shares so offered in proportion to its respective Shareholding (the “Minority ROFO Offer Notice”).
TTSL and TSL shall have the right but not the obligation to, within a period of thirty (30) Business Days from the ROFO Notice (the “Investor ROFO Period”), issue a written notice to the Investor, offering to purchase all, but not less than all, of the Shares so offered (the “Investor ROFO Offer Notice”).
Provided further that notwithstanding anything contained in this Clause 17.4, any towers owned & operated by TTSL or TTML existing as on the Effective Date shall not be covered by and shall be excluded from the applicability of the provisions of this Clause 17.4.
TTSL and/ or TSL shall be entitled to negotiate a sale of any or all Securities of the Company to an unrelated Third Party as TTSL and/ or TSL may deem fit, at a price negotiated by TTSL and/ or TSL with such Third Party (the “Drag Price”).