Shareholders' Agreements · glossary
The co-owner's right to buy first when Ferris or Aldous & Wren wants to sell. The seller gives a Transfer Notice, and silence for 20 business days counts as refusal. Only then may the seller sell to an outsider, within three months and at no lower price. Clause 11 · Clause 11.2 · Chapter 7
Explained in Chapter 7, Transfers, of Shareholders' Agreements.
After the lock-in an owner may sell, but its co-owner gets the first chance to buy. This is called pre-emption. Ferris and A&W each wanted it, so that either could buy the other out instead of meeting a new partner.Read Chapter 7, Transfers →
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