Prepare a Shotgun Buy-Sell Provision for a shareholder agreement with this ready-made template.
provision gives a shareholder the right to offer to purchase the shares held by the other shareholders at a specified price. If they do not accept the offer, the offering party must sell its shareholdings to the remaining shareholders.
These buy-sell provisions set out:
- the procedure to be followed by a shareholder when making an offer to purchase the other shareholders' interests,
- the terms on which any offer to purchase or offer to sell must be made,
- the rights and remedies available to the non-defaulting party upon default by either the purchaser or the seller.
The Shotgun Buy-Sell Provisions for Shareholder Agreement
are available as a downloadable MS Word file.
Last Updated: 14-April-2016