Common use of Exit Strategy Clause in Contracts

Exit Strategy. Sellers, B▇▇▇▇▇ and D▇▇▇▇▇▇▇ agree and covenant that: (1) Sellers, B▇▇▇▇▇ and D▇▇▇▇▇▇▇ shall cause Sellers to evaluate and seriously consider a sale of Sellers or "taking Sellers public" within 60 months following the First Tranche Closing Date; (2) Buyer or Buyer's designee shall have a 60-day right of first refusal to purchase all Sellers together, or a Seller individually, or any portion of any Seller, if the decision is made to sell such Seller(s) or portion thereof, but if Buyer or Buyer's designee for any reason does not exercise such right of first refusal then Buyer shall have so-called "tag along" rights in any such sale, and such Seller(s) shall have so-called "drag along" rights in any such sale; and (3) Buyer shall have so-called "tag along" rights in any "going public" transaction and Sellers shall have so-called "drag along" rights in any "going public" transaction.

Exit Strategy. Sellers, Seller and B▇▇▇▇▇ and D▇▇▇▇▇▇▇ agree and covenant that: (1) Sellers, Seller and B▇▇▇▇▇ and D▇▇▇▇▇▇▇ shall cause Sellers Seller to evaluate and seriously consider a sale of Sellers Seller or "taking Sellers Seller public" within 60 months following the First Tranche Closing Date; (2) Buyer or Buyer's designee shall have a 60-day right of first refusal to purchase all Sellers together, or a Seller individuallySeller, or any portion of any Seller, if the decision is made to sell such Seller(s) Seller or portion thereof, but if Buyer or Buyer's designee for any reason does not exercise such right of first refusal then Buyer shall have so-called "tag along" rights in any such sale, and such Seller(s) Seller shall have so-called "drag along" rights in any such sale; and (3) Buyer shall have so-called "tag along" rights in any "going public" transaction and Sellers Seller shall have so-called "drag along" rights in any "going public" transaction.