Common use of Exercise of Tag Along Option Clause in Contracts

Exercise of Tag Along Option. (a) A Tag Along Option may be exercised by notice (Exercise Notice) to the Seller given within the Exercise Period. (b) If a Shareholder exercises its Tag Along Option, the Seller must not Dispose of any Securities to the purchaser unless the purchaser, at the same time, buys the Securities specified in the Exercise Notice at the same price per Security and otherwise on the same terms. (c) If the Tag Along Option is not exercised within the period specified in the Tag Along Notice, it will be deemed to have lapsed at midnight on the last day of the Exercise Period.

Appears in 2 contracts

Sources: Shareholder Agreement, Shareholders' Agreement

Exercise of Tag Along Option. (a) 9.7.1 A Tag Along Option may be exercised by notice (Exercise Notice) to the Seller given within the Exercise Period. (b) 9.7.2 If a Shareholder exercises its Tag Along Option, the Seller must not Dispose of any Securities to the purchaser unless the purchaser, at the same time, buys the Securities specified in the Exercise Notice at the same price per Security and otherwise on the same terms. (c) 9.7.3 If the Tag Along Option is not exercised within the period specified in the Tag Along Notice, it will be deemed to have lapsed at midnight on the last day of the Exercise Period.

Appears in 1 contract

Sources: Shareholders Agreement (Waton Financial LTD)