了解股权协议中的“Tag-along right”和“Drag-along right”

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“Tag-along”翻译为“随售权”,Tag用作动词时是“紧随、尾随”的意思,随售权条款是出售权条款中的一种,通常约定当大股东出售其股权时,小股东有权选择以相同价格同等条件向受让大股东股权的买方出让股权,即“跟随”大股东一起出售股权,也称“共同出售权”(Co-sale)”。

“Drag-along”翻译为“拖售权”或“领售权”,Drag用作动词时是“拖、拽”的意思,拖售权是指如果有第三方向股权投资基金发出股权收购要约,且股权股权投资基金接受该要约,则其有权要求其他股东一起按照相同的出售条件和价格向该第三方转让股权。

参考双语例句:

Here is a tag-along provision in the Shareholders Agreement in the event that a bona fide third party acquirer (the “Third Party Acquirer”)wishestoacquirea shareholder’s shares of JVCo, and such shareholder (the “Seller”) wishes to accept the offer, the Seller shall immediatelygivenoticethereoftotheothershareholder of JVCo (the ‘‘Tag-along Seller’’) disclosing the details of the offer.

股东协议载有随售条文,若一名第三方收购方(第三方收购方)出于真诚有意收购股东的合营公司股份,而该股东(卖方)有意接纳要约,卖方须就此即时向合营公司其他股东(随售卖方)发出通知,披露要约详情。

And the Tag-Along Seller shall have the right to require the Seller to procure the Third Party Acquirer to acquire all of the Tag-along Seller’s shares of JVCo concurrently with the transfer of the Seller’s shares of JVCo.

随售卖方有权要求卖方于转让其合营公司股份时,促使第三方收购方收购随售 卖方的所有合营公司股份。

Don't let yourself be confused by a lawyer because you don't know what "liquidation preference," "right of first refusal," or "drag along/tag along" means.

不要因为自己不懂“清算优先权”(liquidation preference)、“优先承购权”(right of first refusal),或者是“拖带权”(drag along/tag along)的含义,而被律师搞的晕头转向。

发布于 2022-02-25 16:36:09
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