Common use of Broker Authorization Clause in Contracts

Broker Authorization. The Shareholders hereby authorize any and all brokers, for all accounts holding the Shareholders’ Lock-Up Shares, to provide directly to the Company, immediately upon the Company’s request, a copy of all account statements showing the Lock-Up Shares and all trading activity in the Lock-Up Shares during the Lock-Up Period. The name of the Shareholders’ broker and the contact information will be provided to the Company in writing. The Shareholders will use their commercially reasonable efforts to cause the applicable brokers to cooperate with the Company regarding the delivery of this information, with the understanding that the Shareholders cannot control the outcome of any such requests to their brokers.

Appears in 2 contracts

Sources: Shareholders Agreement (Wu Bruno Zheng), Shareholder Agreement (Ideanomics, Inc.)