Shareholders' Agreements · glossary
A sale to an outsider of shares carrying more than half the votes, a sale of substantially all the business, or a listing on a stock exchange. On an Exit all the manager's unvested shares vest just before it, and she sells on the same terms as everyone. Definition: Exit · Clause 16.6 · Chapter 8
Explained in Chapter 8, Exit, of Shareholders' Agreements.
Also explained in Venture Deals.
One defined word, Exit, covers the events that end the joint venture as the owners know it…Read Chapter 8, Exit →
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(a) completion of a sale, to a person who is not a Shareholder or an Affiliate of a Shareholder, of Shares carrying more than 50% of the votes at a general meeting; (b) completion of a sale of all or substantially all of the business and assets of the Company; or (c) the admission of any Shares to trading on a stock exchange;Read the definition in the document →
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