Common use of Lock-in Clause in Contracts

Lock-in. (a) The Promoters shall at all times directly and in the aggregate together hold at least 50.01% (fifty point zero one percent) of the Share Capital until Part B of these Articles cease to be effective. (b) Subject to Article 5.1(a), the Promoters and/ or their Permitted Transferee shall not (together or individually), Transfer in any way or manner any of the Equity Securities or interest therein held by them, without the prior written consent of the Investor for a period of 3 (three) years from the Closing Date, provided however that Promoters shall be permitted to Transfer their shareholding inter-se or to their respective Immediate Family Members. (c) Subject to Articles 5.1(a) and 5.1(b), (I) the Promoters (and/ or their Permitted Transferee) shall be entitled to Transfer whether individually or together whether in a single tranche or in multiple tranches such number of Equity Securities as constituting in the aggregate upto 15% (fifteen percent) of the Share Capital as at the date of such determination (“Threshold Shares”) without compliance with Articles 5.2 and 5.3;