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droit d'entrainement

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13:43 Jan 19, 2002
French to English translations [PRO]
Law/Patents / shareholders' agreement
French term or phrase: droit d'entrainement
title of an article in a shareholders' agreement made under Canadian and Quebec law. Sentence does not expand on the term.
(sorry for missing circumflex!)
AlexMac
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Summary of answers provided
4 +1piggyback clause/provisionMargaret Doney
4piggyback rightsNigel Patterson


Discussion entries: 1





  

Answers


5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
piggyback rights


Explanation:
See the following refs:

"MODALITÉS OBLIGATOIRES OU MODALITÉS MINIMALES OBLIGATOIRES ÉTANT STIPULÉES À L'ÉGARD DE L'EXERCICE DU DROIT D'ENTRAÎNEMENT OU "PIGGYBACK"
(http://www.avocat.qc.ca/affaires/iiactionsep.htm)

"Piggyback Rights are contractual rights that entitle investors to register and sell their shares of company stock whenever the company conducts a public offering."
(www.growco.com/gcg_entries/piggybackrights1.htm )

Nigel Patterson
United States
Local time: 10:37
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 24
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
piggyback clause/provision


Explanation:
from CRTC decision at http://www.crtc.gc.ca/archive/frn/Decisions/1999/DB99-120.ht...
"D'autre part, en retour de sa contribution financière dans Consortium Québec, le Fonds a exigé un droit d'entraînement, soit le droit de disposer de toutes les actions qu'il possède en cas de perte de contrôle par le Groupe Québectel.Le Fonds a déclaré qu'il « considère que Groupe Québectel joue un rôle important dans le fonctionnement de la Société » et qu'il était « essentiel pour le Fonds d'obtenir un tel droit d'entraînement, à défaut de quoi, le Fonds ne pourrait investir dans la Société ». "

English version at http://www.crtc.gc.ca/archive/eng/Decisions/1999/DB99-120.ht...
"Conversely, in return for its financial participation in Consortium Québec, the Fund requested a "piggyback" provision, giving it the right to dispose of all of its shares if Group Québectel were to lose control. The Fund stated that it [translation] "considers that Groupe Québectel plays an important role in the operation of the Société" and that it was "essential for the Fund to obtain such a piggyback clause, otherwise the Fund could not invest in the Société".

Margaret Doney
PRO pts in pair: 28

Peer comments on this answer (and responses from the answerer)
agree  Yolanda Broad
19 days
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