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droit au prix

English translation: right to receive / pay the same price (as the person exercising the pre-emption right)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:droit au prix
English translation:right to receive / pay the same price (as the person exercising the pre-emption right)
Entered by: French2English
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13:10 Jun 22, 2005
French to English translations [PRO]
Law/Patents - Law (general) / partial transfer of assets
French term or phrase: droit au prix
I am confused by exactly what the 'prix' is in the second paragraph below (I have added the first para for more context). It is from a partial transfer of assets agreement.

Le représentant de la Société Apporteuse, es qualités, s'engage, au cas où la transmission de certains contrats ou certains biens serait subordonnée à accord ou
agrément d'un cocontractant ou d'un tiers quelconque, à solliciter préalablement à la réalisation de l'apport les accords ou décisions d'agrément nécessaires,
Le représentant de la Société Apporteuse, es qualités, s'engage en outre, s'il y a lieu, à effectuer préalablement à la réalisation de l'apport toutes notifications et obtenir la purge de tout droit de préemption pouvant grever les biens apportés.

Si le titulaire d'un droit d'agrément ou de préemption exerçait son droit, à l'occasion de l'apport, celui-ci ne serait pas remis en cause et la Société Bénéficiaire aurait droit au prix, quelle que soit la différence en plus ou en moins entre ce prix et l'évaluation donnée au bien non agréé ou ainsi préempté dans l'opération d'apport.
French2English
United Kingdom
Local time: 04:45
right to receive / pay the same price (as the person exercising the pre-emption right)
Explanation:
This clause is a way of effectively "neutralising" the benefits of someone's pre-emption rights.

The pre-emption rights continue in force but the (in this case) Société Bénéficiaire gets to "tag along" with the holder of the pre-emption right. So if the latter does a good deal on, for example, the sale of an asset, the Société Bénéficiaire gets to do the same deal (at the same price) ... or else receive compensation to the extent that he would/could have done the same deal.
Selected response from:

Carl Sennett
United Kingdom
Local time: 04:45
Grading comment
Thanks - this was very helpful.
3 KudoZ points were awarded for this answer

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Summary of answers provided
4 +4right to receive / pay the same price (as the person exercising the pre-emption right)Carl Sennett


  

Answers


2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
right to receive / pay the same price (as the person exercising the pre-emption right)


Explanation:
This clause is a way of effectively "neutralising" the benefits of someone's pre-emption rights.

The pre-emption rights continue in force but the (in this case) Société Bénéficiaire gets to "tag along" with the holder of the pre-emption right. So if the latter does a good deal on, for example, the sale of an asset, the Société Bénéficiaire gets to do the same deal (at the same price) ... or else receive compensation to the extent that he would/could have done the same deal.

Carl Sennett
United Kingdom
Local time: 04:45
Native speaker of: Native in EnglishEnglish
PRO pts in category: 7
Grading comment
Thanks - this was very helpful.

Peer comments on this answer (and responses from the answerer)
agree  SBtranslations
12 mins
  -> merci

agree  AbdulHameed Al Hadidi
2 hrs

agree  Christopher RH: Absolutely. It makes the capital contribution "definitive" notwithstanding preemption, and the acquiring company gets either the items making up the contribution in kind, or the cash obtained from preemption of those items.// I'm NOT a "proper lawyer" ;)
16 hrs
  -> Many thanks, Christopher RH - it's good to have the comments of a proper lawyer on this sort of question!

agree  gad
21 hrs
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