/Docs/G/GalionProject-TermSheet-CmA/Sec/Liquidity/0.md
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Ti = Liquidity
1.sec = The {_Company} and its shareholders will use their reasonable best efforts to achieve a sale of the {_Company} or initial public offering of its shares on a recognized stock exchange (an “{_IPO}”) on or before the 5th anniversary of Closing.
2.sec = If a liquidity event for the {_Series_A} has not been achieved by the {sixth_anniversary_of_Closing}, the holders of a {2/3_majority_of_the_Series_A} then outstanding (the “{_Investor_Majority}”) shall have the right, at any time following such date, to require the {_Board} and shareholders of the {_Company} to engage an internationally recognized investment bank in order to initiate a {_Qualifying_IPO} or sale of the {_Company}; provided that (i) from the {sixth_anniversary_of_Closing} all shareholders shall be required to sell their shares to any acquirer having made an offer for 100% of the share capital of the {_Company} which is accepted by the holders of at least a {2/3_majority_of_the_Series_A} and (ii) this clause shall not be subject to the Right of First Refusal.
= [G/Z/ol/s2]