Common use of Restriction on sale if tag along Clause in Contracts

Restriction on sale if tag along. If a Tag Along Notice is served on the Seller, the Seller: (a) must use its reasonable endeavours to cause the Buyer to buy the Shares specified in all Tag Along Notices at the sale price and otherwise on the same terms (taken overall) as the Sale Shares are sold to the Buyer; and (b) may only sell the Sale Shares to the Buyer if, at the same time as the sale of the Sale Shares, all Shares specified in all Tag Along Notices are sold at the sale price and otherwise on the same terms (taken overall) as the Sale Shares are sold to the Buyer.

Appears in 2 contracts

Sources: Shareholders’ Agreement (Verdant Earth Technologies LTD), Shareholders’ Agreement (Verdant Earth Technologies LTD)