{"id":61431,"date":"2023-12-04T11:20:34","date_gmt":"2023-12-04T02:20:34","guid":{"rendered":"https:\/\/monolith.law\/tr\/?p=61431"},"modified":"2024-03-15T21:36:28","modified_gmt":"2024-03-15T12:36:28","slug":"investment-stock-purchase-clause","status":"publish","type":"post","link":"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause","title":{"rendered":"Yat\u0131r\u0131m S\u00f6zle\u015fmelerinde Hisse Senedi Sat\u0131n Alma H\u00fck\u00fcmleri Nedir?"},"content":{"rendered":"\n<p>Yat\u0131r\u0131m s\u00f6zle\u015fmelerinde, hisse senedi sat\u0131n alma maddesi olarak adland\u0131r\u0131lan bir madde belirlenebilir.<br> Hisse senedi sat\u0131n alma maddesi hakk\u0131nda, ba\u015flang\u0131\u00e7ta, hangi durumlarda belirlenmesi gerekti\u011fi, ayr\u0131ca, i\u00e7eri\u011fin ne olmas\u0131 gerekti\u011fi gibi konular \u00fczerinde d\u00fc\u015f\u00fcn\u00fclmesi gereken bir\u00e7ok konu bulunmaktad\u0131r. Bu nedenle, bu makalede, yat\u0131r\u0131m s\u00f6zle\u015fmelerindeki hisse senedi sat\u0131n alma maddesi hakk\u0131nda a\u00e7\u0131klama yapaca\u011f\u0131z.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/importance-and-necessity-of-investment-contract\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/importance-and-necessity-of-investment-contract[ja]<\/a><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#Hisse_Senedi_Geri_Alim_Hukumleri_Nedir\" title=\"Hisse Senedi Geri Al\u0131m H\u00fck\u00fcmleri Nedir?\">Hisse Senedi Geri Al\u0131m H\u00fck\u00fcmleri Nedir?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#Hisse_Senedi_Satin_Alma_Maddesinin_Amaci\" title=\"Hisse Senedi Sat\u0131n Alma Maddesinin Amac\u0131\">Hisse Senedi Sat\u0131n Alma Maddesinin Amac\u0131<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#Yatirim_Sozlesmesini_Ihlal_Eden_Sirket_veya_Yonetim_Ekibine_Bir_Tur_Yaptirim_Uygulama_Amaci\" title=\"Yat\u0131r\u0131m S\u00f6zle\u015fmesini \u0130hlal Eden \u015eirket veya Y\u00f6netim Ekibine Bir T\u00fcr Yapt\u0131r\u0131m Uygulama Amac\u0131\">Yat\u0131r\u0131m S\u00f6zle\u015fmesini \u0130hlal Eden \u015eirket veya Y\u00f6netim Ekibine Bir T\u00fcr Yapt\u0131r\u0131m Uygulama Amac\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#VC_ve_Benzeri_Yatirimcilara_Yatirilan_Sermayeyi_Geri_Alma_Firsati_Saglama_Amaci\" title=\"VC ve Benzeri Yat\u0131r\u0131mc\u0131lara Yat\u0131r\u0131lan Sermayeyi Geri Alma F\u0131rsat\u0131 Sa\u011flama Amac\u0131\">VC ve Benzeri Yat\u0131r\u0131mc\u0131lara Yat\u0131r\u0131lan Sermayeyi Geri Alma F\u0131rsat\u0131 Sa\u011flama Amac\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#VC_ve_Benzeri_Yatirimcilara_Sirketle_Olan_Iliskilerini_Sonlandirma_Firsati_Saglama_Amaci\" title=\"VC ve Benzeri Yat\u0131r\u0131mc\u0131lara \u015eirketle Olan \u0130li\u015fkilerini Sonland\u0131rma F\u0131rsat\u0131 Sa\u011flama Amac\u0131\">VC ve Benzeri Yat\u0131r\u0131mc\u0131lara \u015eirketle Olan \u0130li\u015fkilerini Sonland\u0131rma F\u0131rsat\u0131 Sa\u011flama Amac\u0131<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#Hisse_Senedi_Satin_Alma_Maddesinin_Tetikleyicileri\" title=\"Hisse Senedi Sat\u0131n Alma Maddesinin Tetikleyicileri\">Hisse Senedi Sat\u0131n Alma Maddesinin Tetikleyicileri<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#Beyan_ve_Garanti_Maddesi_Ihlali\" title=\"Beyan ve Garanti Maddesi \u0130hlali\">Beyan ve Garanti Maddesi \u0130hlali<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#Bilgi_Aciklama_Maddesi_Ihlali\" title=\"Bilgi A\u00e7\u0131klama Maddesi \u0130hlali\">Bilgi A\u00e7\u0131klama Maddesi \u0130hlali<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#Girisimcilik_Sirketleri_vb_Hisse_Senedi_Sirketlerinin_Halka_Acilmamasi_Durumu\" title=\"Giri\u015fimcilik \u015eirketleri vb. Hisse Senedi \u015eirketlerinin Halka A\u00e7\u0131lmamas\u0131 Durumu\">Giri\u015fimcilik \u015eirketleri vb. Hisse Senedi \u015eirketlerinin Halka A\u00e7\u0131lmamas\u0131 Durumu<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#Hisse_Senedi_Satin_Alma_Maddesi_Ornegi\" title=\"Hisse Senedi Sat\u0131n Alma Maddesi \u00d6rne\u011fi\">Hisse Senedi Sat\u0131n Alma Maddesi \u00d6rne\u011fi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/investment-stock-purchase-clause\/#Ozet\" title=\"\u00d6zet\">\u00d6zet<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hisse_Senedi_Geri_Alim_Hukumleri_Nedir\"><\/span>Hisse Senedi Geri Al\u0131m H\u00fck\u00fcmleri Nedir?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Hisse Senedi Geri Al\u0131m H\u00fck\u00fcmleri, belirli durumlarda, VC gibi yat\u0131r\u0131mc\u0131lar\u0131n, \u015firkete veya y\u00f6netim ekibine, sahip olduklar\u0131 hisse senetlerinin geri al\u0131nmas\u0131n\u0131 talep etme hakk\u0131n\u0131 tan\u0131yan bir h\u00fck\u00fcmd\u00fcr. \u00d6rne\u011fin, bir yat\u0131r\u0131m anla\u015fmas\u0131nda, \u015firket veya y\u00f6netim ekibi yat\u0131r\u0131m anla\u015fmas\u0131n\u0131n i\u00e7eri\u011fine ayk\u0131r\u0131 hareket etti\u011finde, VC gibi yat\u0131r\u0131mc\u0131lar, sahip olduklar\u0131 hisse senetlerinin geri al\u0131nmas\u0131n\u0131 \u015firketten veya y\u00f6netim ekibinden talep edebilecekleri bir h\u00fck\u00fcm olarak belirlenebilir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hisse_Senedi_Satin_Alma_Maddesinin_Amaci\"><\/span>Hisse Senedi Sat\u0131n Alma Maddesinin Amac\u0131<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/04\/shutterstock_331815527-1024x765.jpg\" alt=\"\" class=\"wp-image-8639\" \/><figcaption class=\"wp-element-caption\"> Hisse senedi sat\u0131n alma maddesinin belirlenme amac\u0131n\u0131 a\u00e7\u0131kl\u0131yoruz.<\/figcaption><\/figure>\n\n\n\n<p>Peki, hisse senedi sat\u0131n alma maddesi yat\u0131r\u0131m s\u00f6zle\u015fmesine hangi ama\u00e7la dahil edilir? Hisse senedi sat\u0131n alma maddesi, VC ve benzeri yat\u0131r\u0131mc\u0131lar\u0131n, \u015firket veya y\u00f6netim ekibinden, kendilerinin sahip oldu\u011fu hisse senetlerinin sat\u0131n al\u0131nmas\u0131n\u0131 talep etme hakk\u0131n\u0131 veren bir maddedir. Bu nedenle, VC ve benzeri yat\u0131r\u0131mc\u0131lar i\u00e7in avantajl\u0131 bir maddedir. Bu sebeple, VC ve benzeri yat\u0131r\u0131mc\u0131lar, bu maddenin yat\u0131r\u0131m s\u00f6zle\u015fmesine dahil edilmesini \u00f6nerir.<\/p>\n\n\n\n<p>Hisse senedi sat\u0131n alma maddesinin belirlenme amac\u0131 olarak, genellikle a\u015fa\u011f\u0131daki \u00fc\u00e7 nokta d\u00fc\u015f\u00fcn\u00fcl\u00fcr:<\/p>\n\n\n\n<ol>\n<li>Yat\u0131r\u0131m s\u00f6zle\u015fmesini ihlal eden \u015firket veya y\u00f6netim ekibine bir t\u00fcr yapt\u0131r\u0131m uygulama amac\u0131<\/li>\n\n\n\n<li>VC ve benzeri yat\u0131r\u0131mc\u0131lara yat\u0131r\u0131lan sermayeyi geri alma f\u0131rsat\u0131 sa\u011flama amac\u0131<\/li>\n\n\n\n<li>VC ve benzeri yat\u0131r\u0131mc\u0131lara \u015firketle olan ili\u015fkilerini sonland\u0131rma f\u0131rsat\u0131 sa\u011flama amac\u0131<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Yatirim_Sozlesmesini_Ihlal_Eden_Sirket_veya_Yonetim_Ekibine_Bir_Tur_Yaptirim_Uygulama_Amaci\"><\/span>Yat\u0131r\u0131m S\u00f6zle\u015fmesini \u0130hlal Eden \u015eirket veya Y\u00f6netim Ekibine Bir T\u00fcr Yapt\u0131r\u0131m Uygulama Amac\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u00d6ncelikle, hisse senedi sat\u0131n alma maddesinin yat\u0131r\u0131m s\u00f6zle\u015fmesine dahil edilme amac\u0131 olarak, yat\u0131r\u0131m s\u00f6zle\u015fmesini ihlal eden \u015firket veya y\u00f6netim ekibine bir t\u00fcr yapt\u0131r\u0131m uygulama amac\u0131 d\u00fc\u015f\u00fcn\u00fclebilir.<\/p>\n\n\n\n<p>\u015eirket veya y\u00f6netim ekibi yat\u0131r\u0131m s\u00f6zle\u015fmesini ihlal etti\u011finde, yat\u0131r\u0131m s\u00f6zle\u015fmesinde belirlenen sorumluluklar\u0131 takip etme veya hukuki olarak yap\u0131labilir olan sorumluluklar\u0131 takip etme gibi durumlar d\u00fc\u015f\u00fcn\u00fclebilir. Bu t\u00fcr sorumluluk takipleri genellikle tazminat talepleri \u015feklinde olur, ancak tazminat talebinde bulunmak i\u00e7in, \u015firket veya y\u00f6netim ekibinin belirli eylemlerinin belirlenmesi veya zarar ve nedensellik ili\u015fkisinin kan\u0131tlanmas\u0131 gibi, talep i\u00e7in y\u00fcksek engeller vard\u0131r. Bu nedenle, bir t\u00fcr yapt\u0131r\u0131m uygulama amac\u0131yla yat\u0131r\u0131m s\u00f6zle\u015fmesine hisse senedi sat\u0131n alma maddesi dahil edilir.<\/p>\n\n\n\n<p>Hisse senedi sat\u0131n alma maddesi belirlendi\u011finde, \u015firket veya y\u00f6netim ekibi yat\u0131r\u0131m s\u00f6zle\u015fmesini ihlal eden bir eylem ger\u00e7ekle\u015ftirdi\u011finde, VC ve benzeri yat\u0131r\u0131mc\u0131lar taraf\u0131ndan hisse senedi sat\u0131n alma talebi yap\u0131l\u0131r ve \u015firket veya y\u00f6netim ekibi hisse senetlerinin sat\u0131n al\u0131nmas\u0131n\u0131 kabul etmek zorunda kal\u0131r.<br>\n\u015eirket veya y\u00f6netim ekibi, VC ve benzeri yat\u0131r\u0131mc\u0131lardan hisse senetlerinin sat\u0131n al\u0131nmas\u0131n\u0131 \u00f6nlemek i\u00e7in, yat\u0131r\u0131m s\u00f6zle\u015fmesini ihlal eden eylemleri ger\u00e7ekle\u015ftirmekten ka\u00e7\u0131nabilir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"VC_ve_Benzeri_Yatirimcilara_Yatirilan_Sermayeyi_Geri_Alma_Firsati_Saglama_Amaci\"><\/span>VC ve Benzeri Yat\u0131r\u0131mc\u0131lara Yat\u0131r\u0131lan Sermayeyi Geri Alma F\u0131rsat\u0131 Sa\u011flama Amac\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Hisse senedi sat\u0131n alma maddesi belirlendi\u011finde, VC ve benzeri yat\u0131r\u0131mc\u0131lar, sahip olduklar\u0131 hisse senetlerini \u015firket veya y\u00f6netim ekibine satma hakk\u0131na sahip olur, b\u00f6ylece gerekti\u011finde yat\u0131r\u0131lan sermayeyi geri alabilirler. VC ve benzeri yat\u0131r\u0131mc\u0131lar, yat\u0131r\u0131lan sermayeyi geri alamama riskini ta\u015f\u0131yarak hisse senetlerini sat\u0131n al\u0131r, ancak \u015firket veya y\u00f6netim ekibinin yat\u0131r\u0131m s\u00f6zle\u015fmesini ihlal eden haks\u0131z bir eylem ger\u00e7ekle\u015ftirdi\u011fi durumda bu riski ta\u015f\u0131ma zorunlulu\u011fu yoktur.<\/p>\n\n\n\n<p>Bu nedenle, VC ve benzeri yat\u0131r\u0131mc\u0131lara yat\u0131r\u0131lan sermayeyi geri alma f\u0131rsat\u0131 sa\u011flama amac\u0131yla, yat\u0131r\u0131m s\u00f6zle\u015fmesine hisse senedi sat\u0131n alma maddesi dahil edilir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"VC_ve_Benzeri_Yatirimcilara_Sirketle_Olan_Iliskilerini_Sonlandirma_Firsati_Saglama_Amaci\"><\/span>VC ve Benzeri Yat\u0131r\u0131mc\u0131lara \u015eirketle Olan \u0130li\u015fkilerini Sonland\u0131rma F\u0131rsat\u0131 Sa\u011flama Amac\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u015eirket veya y\u00f6netim ekibi yat\u0131r\u0131m s\u00f6zle\u015fmesini ihlal eden bir eylem ger\u00e7ekle\u015ftirdi\u011finde, VC ve benzeri yat\u0131r\u0131mc\u0131lar, \u015firketle olan ili\u015fkilerini sonland\u0131rmak isteyebilir.<br>\nBir \u015firketin hisse senetleri halka a\u00e7\u0131k oldu\u011funda, hisse senetlerini satarak \u015firketle olan ili\u015fkilerini kolayca sonland\u0131rabilirler, ancak hisse senetleri halka a\u00e7\u0131k olmayan bir \u015firkette, \u015firketle olan ili\u015fkilerini sonland\u0131rmak kolay olmayabilir.<\/p>\n\n\n\n<p>Bu nedenle, yat\u0131r\u0131m s\u00f6zle\u015fmesine hisse senedi sat\u0131n alma maddesi dahil edilir ve \u015firket veya y\u00f6netim ekibi yat\u0131r\u0131m s\u00f6zle\u015fmesini ihlal eden bir eylem ger\u00e7ekle\u015ftirdi\u011finde, VC ve benzeri yat\u0131r\u0131mc\u0131lar, \u015firket veya y\u00f6netim ekibinden sahip olduklar\u0131 hisse senetlerinin sat\u0131n al\u0131nmas\u0131n\u0131 talep eder ve \u015firketle olan ili\u015fkilerini sonland\u0131rma f\u0131rsat\u0131n\u0131 sa\u011flarlar.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hisse_Senedi_Satin_Alma_Maddesinin_Tetikleyicileri\"><\/span>Hisse Senedi Sat\u0131n Alma Maddesinin Tetikleyicileri<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/04\/shutterstock_126057815-1024x683.jpg\" alt=\"\" class=\"wp-image-8645\" \/><figcaption class=\"wp-element-caption\"> Hisse senedi sat\u0131n alma maddesinin tetikleyicilerini tan\u0131taca\u011f\u0131z.<\/figcaption><\/figure>\n\n\n\n<p>Hisse senedi sat\u0131n alma maddesi, \u015firket veya y\u00f6netim ekibinin yat\u0131r\u0131m s\u00f6zle\u015fmesine ayk\u0131r\u0131 davranmas\u0131 durumunda belirlenen bir bi\u00e7imde d\u00fczenlenir. Hisse senedi sat\u0131n alma maddesinin tetikleyicileri durumdan duruma de\u011fi\u015fir, ancak a\u015fa\u011f\u0131da yat\u0131r\u0131m s\u00f6zle\u015fmesinde s\u0131k\u00e7a belirlenen durumlar\u0131 tan\u0131taca\u011f\u0131z.<\/p>\n\n\n\n<ol>\n<li>Beyan ve Garanti Maddesi \u0130hlali<\/li>\n\n\n\n<li>Bilgi A\u00e7\u0131klama Maddesi \u0130hlali<\/li>\n\n\n\n<li>Giri\u015fimcilik \u015firketleri vb. hisse senedi \u015firketlerinin halka a\u00e7\u0131lmamas\u0131 durumu<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Beyan_ve_Garanti_Maddesi_Ihlali\"><\/span>Beyan ve Garanti Maddesi \u0130hlali<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Beyan ve garanti maddesi, s\u00f6zle\u015fme taraflar\u0131ndan birinin, s\u00f6zle\u015fme an\u0131nda veya belirli bir zamanda, di\u011fer tarafa, s\u00f6zle\u015fme taraflar\u0131 hakk\u0131nda, s\u00f6zle\u015fme i\u00e7eri\u011fi hakk\u0131nda, s\u00f6zle\u015fme ile ilgili veya i\u015f faaliyetleri hakk\u0131nda belirli ger\u00e7ekleri beyan etti\u011fi ve bu i\u00e7eri\u011fi garanti etti\u011fi bir maddedir. Beyan ve garanti maddesinde garanti edilen ger\u00e7eklere ayk\u0131r\u0131 bir durumun var oldu\u011funun ortaya \u00e7\u0131kmas\u0131 durumunda, VC vb. yat\u0131r\u0131mc\u0131lar ve \u015firket veya y\u00f6netim ekibi aras\u0131ndaki g\u00fcven ili\u015fkisi kaybolur ve yat\u0131r\u0131mc\u0131lar genellikle \u015firketle olan ili\u015fkilerini sonland\u0131rmak isterler. Bu t\u00fcr durumlar i\u00e7in, yat\u0131r\u0131m s\u00f6zle\u015fmesinde, beyan ve garanti maddesine ayk\u0131r\u0131 davran\u0131lmas\u0131 durumunda hisse senedi sat\u0131n alma talebinde bulunulabilece\u011fi belirtilir.<\/p>\n\n\n\n<p>Ancak, beyan ve garantiler aras\u0131nda \u00f6nemli olanlar ve \u00f6nemsiz olanlar olabilir. Bu t\u00fcr durumlarda, sadece \u00f6nemli ger\u00e7eklere ili\u015fkin beyan ve garanti ihlalleri durumunda hisse senedi sat\u0131n alma talebinin kabul edilece\u011fi belirlenebilir.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/representations-and-warranties-of-investment-contract\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/representations-and-warranties-of-investment-contract[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bilgi_Aciklama_Maddesi_Ihlali\"><\/span>Bilgi A\u00e7\u0131klama Maddesi \u0130hlali<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Bilgi a\u00e7\u0131klama maddesi, \u015firketin, VC vb. yat\u0131r\u0131mc\u0131lara belirli bilgileri a\u00e7\u0131klamas\u0131n\u0131 belirleyen bir maddedir. \u015eirket veya y\u00f6netim ekibi, bilgi a\u00e7\u0131klama maddesinde belirtildi\u011fi halde, bilgileri yat\u0131r\u0131mc\u0131lara a\u00e7\u0131klamazsa, hisse senedi sat\u0131n alma talebinin kabul edilece\u011fi bir d\u00fczenleme yap\u0131labilir.<\/p>\n\n\n\n<p>\u015eirket veya y\u00f6netim ekibinden bilgilerin uygun bir \u015fekilde a\u00e7\u0131klanmamas\u0131 durumunda, yat\u0131r\u0131mc\u0131lar \u015firketle olan g\u00fcven ili\u015fkisini s\u00fcrd\u00fcrmekte zorlanabilirler. Bu t\u00fcr durumlar i\u00e7in, bilgi a\u00e7\u0131klama maddesi ihlalini hisse senedi sat\u0131n alma talebinin tetikleyicisi olarak belirlemek yararl\u0131 olabilir.<\/p>\n\n\n\n<p>Ancak, a\u00e7\u0131klanmas\u0131 gereken bilgiler aras\u0131nda \u00f6nemli olanlar ve \u00f6nemsiz olanlar olabilir. Bu t\u00fcr durumlarda, sadece \u00f6nemli bilgilerin a\u00e7\u0131klanmamas\u0131 durumunda hisse senedi sat\u0131n alma talebinin kabul edilece\u011fi belirlenebilir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Girisimcilik_Sirketleri_vb_Hisse_Senedi_Sirketlerinin_Halka_Acilmamasi_Durumu\"><\/span>Giri\u015fimcilik \u015eirketleri vb. Hisse Senedi \u015eirketlerinin Halka A\u00e7\u0131lmamas\u0131 Durumu<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yat\u0131r\u0131m s\u00f6zle\u015fmesinde, belirli ko\u015fullar\u0131n kar\u015f\u0131lanmas\u0131 durumunda, hisse senedi \u015firketinin halka a\u00e7\u0131lma y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fc belirleyen bir madde belirlenebilir. VC vb. yat\u0131r\u0131mc\u0131lar genellikle hisse senedi halka arz\u0131 yoluyla \u00e7\u0131k\u0131\u015f\u0131 hedefler ve giri\u015fimcilik \u015firketleri vb. hisse senedi \u015firketlerinin halka a\u00e7\u0131lmamas\u0131 durumunda, beklenen kar elde edilemez. Bu nedenle, giri\u015fimcilik \u015firketleri vb. hisse senedi \u015firketlerinin halka a\u00e7\u0131lmamas\u0131 durumunda, yat\u0131r\u0131mc\u0131lara hisse senedi sat\u0131n alma talebinde bulunma hakk\u0131 veren bir madde belirlenebilir.<\/p>\n\n\n\n<p>Bu durumda, yat\u0131r\u0131mc\u0131lara sadece yat\u0131r\u0131mlar\u0131n\u0131 geri kazand\u0131rmak yetmez, hisse senetlerinin halka a\u00e7\u0131lmas\u0131 durumunu d\u00fc\u015f\u00fcnerek, hisse senedi sat\u0131n alma fiyat\u0131n\u0131 belirlemek daha iyidir.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/exit-by-ipo-m-and-a\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/exit-by-ipo-m-and-a[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hisse_Senedi_Satin_Alma_Maddesi_Ornegi\"><\/span>Hisse Senedi Sat\u0131n Alma Maddesi \u00d6rne\u011fi<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/04\/shutterstock_397574674-1024x684.jpg\" alt=\"\" class=\"wp-image-8647\" \/><figcaption class=\"wp-element-caption\">A\u015fa\u011f\u0131da hisse senedi sat\u0131n alma maddesi \u00f6rne\u011fi verilmi\u015ftir.<\/figcaption><\/figure>\n\n\n\n<p>Hisse senedi sat\u0131n alma maddesi \u00f6rne\u011fi hakk\u0131nda, \u00f6rne\u011fin, a\u015fa\u011f\u0131daki gibi maddeler d\u00fc\u015f\u00fcn\u00fclebilir.<\/p>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Madde \u25cb (Hisse Senedi Sat\u0131n Alma Maddesi)<br>1. \u25cb\u25cb A.\u015e. (bundan sonra &#8220;B&#8221; olarak an\u0131lacakt\u0131r.) ve B&#8217;nin CEO&#8217;su \u25cb\u25cb (bundan sonra &#8220;C&#8221; olarak an\u0131lacakt\u0131r.) a\u015fa\u011f\u0131daki durumlar\u0131n meydana gelmesi halinde, her biri, yasal olarak m\u00fcmk\u00fcn olan \u00f6l\u00e7\u00fcde, hissedar\u0131n (bundan sonra &#8220;A&#8221; olarak an\u0131lacakt\u0131r.) talebi \u00fczerine, sahip oldu\u011fu ilgili hisse senetlerini (bu maddede &#8220;sat\u0131n alma hedefi menkul k\u0131ymetler&#8221; olarak an\u0131lacakt\u0131r.) sat\u0131n alacak ve bu talebin al\u0131nmas\u0131ndan sonra \u25cb\u25cb g\u00fcn i\u00e7inde A&#8217;n\u0131n belirledi\u011fi y\u00f6ntemle sat\u0131n alma fiyat\u0131n\u0131 A&#8217;ya \u00f6deyecektir.<br>S\u00f6z konusu durumda sat\u0131n alma hedefi menkul k\u0131ymetlerin sat\u0131n alma fiyat\u0131, B&#8217;nin en son denetlenmi\u015f bilan\u00e7osundaki net defter de\u011ferine dayal\u0131 B&#8217;nin hisse ba\u015f\u0131na net varl\u0131k de\u011ferini temel al\u0131r. Sat\u0131n alma fiyat\u0131 hakk\u0131nda anla\u015fmazl\u0131k olmas\u0131 durumunda, A&#8217;n\u0131n atad\u0131\u011f\u0131 sertifikal\u0131 muhasebeci yukar\u0131daki kriterlere dayanarak karar verecektir. Ayr\u0131ca, A&#8217;n\u0131n talebi \u00fczerine sat\u0131n alma y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc alt\u0131na giren B ve C, s\u00f6z konusu sertifikal\u0131 muhasebecinin \u00fccretini ve masraflar\u0131n\u0131 kar\u015f\u0131layacak ve bunlar\u0131 \u00f6deyecektir.<br>(1) B veya C, bu s\u00f6zle\u015fmeye dayal\u0131 y\u00fck\u00fcml\u00fcl\u00fcklerini yerine getirmezse ve A, y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fc yerine getirmeyen tarafa g\u00f6nderdi\u011fi ihbarnameyi (kopyas\u0131 di\u011fer taraflara da g\u00f6nderilir) almas\u0131ndan sonra \u25cb\u25cb g\u00fcn i\u00e7inde s\u00f6z konusu bor\u00e7 ihlali d\u00fczeltilmezse veya s\u00f6z konusu ihlal d\u00fczeltilemezse<br>(2) Bu s\u00f6zle\u015fmenin imzalanmas\u0131yla ilgili olarak B&#8217;nin A&#8217;ya verdi\u011fi belgelerden veya sa\u011flad\u0131\u011f\u0131 bilgilerden herhangi biri, s\u00f6zle\u015fmenin imzaland\u0131\u011f\u0131 tarihte veya \u00f6deme tarihinde \u00f6nemli bir ger\u00e7ek hakk\u0131nda yan\u0131lt\u0131c\u0131 veya yetersiz olmas\u0131 durumunda<br>(3) Madde \u25cb&#8217;ya dayanarak B&#8217;nin A&#8217;ya verdi\u011fi belgelerden veya sa\u011flad\u0131\u011f\u0131 bilgilerden herhangi biri, bu belgenin veya bilginin verildi\u011fi veya sa\u011fland\u0131\u011f\u0131 tarihte \u00f6nemli bir ger\u00e7ek hakk\u0131nda yan\u0131lt\u0131c\u0131 veya yetersiz olmas\u0131 durumunda<br>(4) B veya C&#8217;nin kontrol\u00fc, y\u00f6netimi veya hissedar yap\u0131s\u0131nda \u00f6nemli bir de\u011fi\u015fiklik olmas\u0131 durumunda veya ihra\u00e7 eden \u015firketin temel i\u015f y\u00f6netimi politikas\u0131nda \u00f6nemli bir de\u011fi\u015fiklik olmas\u0131 durumunda ve A&#8217;n\u0131n \u00f6nceden onay\u0131n\u0131 almad\u0131\u011f\u0131 durumlarda<br>2. B&#8217;nin mali durumu ve i\u015f performans\u0131 a\u00e7\u0131s\u0131ndan, B&#8217;nin hisse senetlerini halka a\u00e7ma veya tezgah \u00fcst\u00fc kay\u0131t gereksinimlerini kar\u015f\u0131lamas\u0131na ra\u011fmen, B halka a\u00e7maz veya tezgah \u00fcst\u00fc kay\u0131t yapmazsa, B ve C, her biri, yasal olarak m\u00fcmk\u00fcn olan \u00f6l\u00e7\u00fcde, A&#8217;n\u0131n talebi \u00fczerine, sahip oldu\u011fu ilgili hisse senetlerini (bu maddede &#8220;sat\u0131n alma hedefi menkul k\u0131ymetler&#8221; olarak an\u0131lacakt\u0131r.) sat\u0131n alacak ve bu talebin al\u0131nmas\u0131ndan sonra \u25cb\u25cb g\u00fcn i\u00e7inde A&#8217;n\u0131n belirledi\u011fi y\u00f6ntemle sat\u0131n alma fiyat\u0131n\u0131 A&#8217;ya \u00f6deyecektir. S\u00f6z konusu durumda sat\u0131n alma hedefi menkul k\u0131ymetlerin sat\u0131n alma fiyat\u0131, mali durumu ve i\u015f performans\u0131 a\u00e7\u0131s\u0131ndan halka a\u00e7ma gereksinimlerini kar\u015f\u0131layan bir borsa veya tezgah \u00fcst\u00fc i\u015flem gereksinimlerini kar\u015f\u0131layan bir tezgah \u00fcst\u00fc piyasada A&#8217;n\u0131n hisse senetlerinin halka a\u00e7\u0131lm\u0131\u015f olmas\u0131 durumunda olu\u015facak hisse ba\u015f\u0131na ilk fiyat\u0131 temel alarak, ilgili taraflar aras\u0131nda anla\u015fmaya var\u0131larak belirlenir. S\u00f6z konusu anla\u015fma \u25cb\u25cb g\u00fcn i\u00e7inde ger\u00e7ekle\u015fmezse, sat\u0131n alma fiyat\u0131, bu s\u00f6zle\u015fmenin taraflar\u0131yla \u00e7\u0131kar \u00e7at\u0131\u015fmas\u0131 olmayan bir yat\u0131r\u0131mc\u0131n\u0131n atad\u0131\u011f\u0131 bir arac\u0131l\u0131k hizmetleri lisans\u0131na sahip bir menkul k\u0131ymet \u015firketi taraf\u0131ndan yukar\u0131daki kriterlere dayanarak belirlenir. Bu durumda, bu maddenin sat\u0131n alma fiyat\u0131 \u00f6deme s\u00fcresi olan \u25cb\u25cb g\u00fcn s\u00fcresi \u25cb\u25cb\u25cb g\u00fcn s\u00fcresine uzat\u0131l\u0131r. Ayr\u0131ca, A&#8217;n\u0131n talebi \u00fczerine sat\u0131n alma y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc alt\u0131na giren B ve C, s\u00f6z konusu menkul k\u0131ymet \u015firketinin \u00fccretini ve masraflar\u0131n\u0131 kar\u015f\u0131layacak ve bunlar\u0131 \u00f6deyecektir.<br>B ve C, bu maddeye dayal\u0131 t\u00fcm sat\u0131n almalar ve di\u011fer devirler hakk\u0131nda, ad de\u011fi\u015fikli\u011fi ve di\u011fer devirlerin ger\u00e7ekle\u015ftirilmesi i\u00e7in gerekli tedbirleri alacakt\u0131r.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ozet\"><\/span>\u00d6zet<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Yukar\u0131da, yat\u0131r\u0131m s\u00f6zle\u015fmelerindeki hisse senedi sat\u0131n alma h\u00fck\u00fcmlerini a\u00e7\u0131klad\u0131k. Giri\u015fim \u015firketlerinin, VC&#8217;ler ve benzerleri ile yat\u0131r\u0131m s\u00f6zle\u015fmesi m\u00fczakereleri y\u00fcr\u00fct\u00fcrken, hisse senedi sat\u0131n alma h\u00fck\u00fcmlerini belirlemeyi \u00f6neren tekliflerle s\u0131k\u00e7a kar\u015f\u0131la\u015ft\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyorum. Giri\u015fim \u015firketlerinin VC&#8217;ler ve benzerlerinden yat\u0131r\u0131m alabilmesi i\u00e7in, VC&#8217;lerin ve benzerlerinin taleplerine yan\u0131t vermesi gerekmektedir. Ancak, ileride dezavantajl\u0131 duruma d\u00fc\u015fmemek i\u00e7in, hisse senedi sat\u0131n alma h\u00fck\u00fcmlerinin i\u00e7eri\u011fini dikkatlice incelemek gerekmektedir. Hisse senedi sat\u0131n alma h\u00fck\u00fcmlerinin incelenmesi konusunda, uzman bilgisi gerekti\u011fi i\u00e7in, bir uzman olan avukat\u0131n tavsiyesini alman\u0131n uygun olaca\u011f\u0131n\u0131 s\u00f6yleyebiliriz.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yat\u0131r\u0131m s\u00f6zle\u015fmelerinde, hisse senedi sat\u0131n alma maddesi olarak adland\u0131r\u0131lan bir madde belirlenebilir. Hisse senedi sat\u0131n alma maddesi hakk\u0131nda, ba\u015flang\u0131\u00e7ta, hangi durumlarda belirlenmesi gerekti\u011fi, a [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":63740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[25,24],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61431"}],"collection":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/comments?post=61431"}],"version-history":[{"count":3,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61431\/revisions"}],"predecessor-version":[{"id":63741,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61431\/revisions\/63741"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media\/63740"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media?parent=61431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/categories?post=61431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/tags?post=61431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}