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Shareholders Agreements Under Turkish Law
An alternative agreement named as Shareholders Agreements (“SHA”) except the Articles of Associations regulates the relationship between the shareholders and management of the company and the Turkish Code of Obligations numbered 6098 and dated 01.07.2012 (“TCO”) allows the shareholders to regulate matters which are not covered in the Turkish Commercial Code numbered 6102 and dated 01.07.2012 (“TCC”).
In consideration of the foregoing, our study refers purpose, context and breach of the SHA and impacts on the M&A Deals.
- DEFINITION AND PURPOSE OF THE SHA
- THE VALIDITY AND FORMATION OF THE SHA
- THE PARTIES OF THE SHA
- SANCTIONS TO BE REGULATED UNDER THE SHA
- The Penalty Clause
- Call Option and Put Option
- Escrow Agreement
- Bank Guarantee Letters
- CONCLUSION