Ceasing to be a Shareholder Sample Clauses

The 'Ceasing to be a Shareholder' clause defines the circumstances and procedures under which an individual or entity loses their status as a shareholder in a company. Typically, this clause outlines events such as the sale or transfer of shares, death, insolvency, or breach of shareholder agreements that would trigger the cessation. It may also specify the process for updating the company’s register and the rights or obligations that terminate or survive after a shareholder exits. The core function of this clause is to provide clarity and structure around changes in share ownership, ensuring all parties understand when and how shareholder status ends and what the consequences are.
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Ceasing to be a Shareholder. Any Shareholder that ceases to hold the Corporation Securities shall, at the same time, cease to be a party to this Agreement. Notwithstanding the foregoing, the provisions of sections 7.1 to 7.5, inclusive, and all other provisions required to give effect to the intentions reflected therein, shall continue to apply to such Shareholder in accordance with their terms after such Shareholder ceases to be a party hereto and, if so requested, such Shareholder shall enter into a separate agreement with the Corporation to affect such continuing obligations.
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Ceasing to be a Shareholder. If any Person sells, transfers or otherwise disposes of all Shares owned by it, such Person shall cease to be a Shareholder. On ceasing to be a Shareholder: (a) the former Shareholder shall certify to the Company that all material correspondence, Annual Budgets, Business Plans, schedules, documents and other records provided to it by the Company and held by it or any Shareholder or any third party which has acquired such matter through such former Shareholder has been destroyed and shall not keep any copies or electronic versions thereof, in each case, except as required by applicable Law or pursuant to established record keeping policies; (b) the former Shareholder shall immediately upon transfer of its Shares procure the resignation of all its appointees to the Board (other than Independent Directors) unless it has transferred its rights hereunder to appoint Directors to its transferee (in which case such transferee may remove such Directors in accordance with Section 6.07 as if such transferee had appointed such Directors); and (c) the former Shareholder shall continue to comply with its obligations under Article XI for the term specified in Article XI (including with respect to any items not destroyed pursuant to Section 8.06(a)).
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Ceasing to be a Shareholder. If any Shareholder ceases to own any Shares, the rights and obligations of such Shareholder hereunder shall automatically terminate, without any action required by any Party, from and after the date that such Shareholder ceases to own any Shares.
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Ceasing to be a Shareholder. (a) AMTEK Member (for itself and on behalf of its Affiliates) and the JVC hereby irrevocably and unconditionally declare and confirm that, following the completion of the twelve (12) month period following the term of this JVA, they have no objection whatsoever to the ARI Member or any of its subsidiaries, holding companies, Affiliates, group entities or nominees making investments in, or entering into partnerships, joint ventures, collaborations or alliances of any nature whatsoever with, companies or other entities in the same field of economic activity as that of the JVC and/or its Subsidiaries and further confirm that ARI Member or any other such Person would not be required to seek any further permission from the JVC, its Subsidiaries or AMTEK Member (for itself and on behalf of its Affiliates) in this regard. AMTEK Member (for itself and on behalf of its Affiliates) and the JVC shall from time to time, certify (including by way of a board resolution of the JVC if required) that they do not object to such investment, agreement or arrangement with such Persons as may be required by the ARI Member immediately upon being requested to do so by the ARI Member. (b) Notwithstanding anything to the contrary contained in this JVA, (i) where a Party (and/or its Affiliates) ceases to be a Shareholder as a result of a purchase and sale transaction pursuant to Article 15.4 (arising from an unresolved Deadlock Event), the restrictions contained in Article 14.1 shall only apply to such Party (and/or its Affiliates) while it is a Shareholder and not for any additional period thereafter; and (ii) where this JVA has been validly terminated in accordance with Article 23 (arising from an Event of Default), the restrictions contained in Article 14.1 shall apply to the Non-Defaulting Party (and/or its Affiliates) while it is a Shareholder and not for any additional period thereafter. (For the purpose of clarity, the Parties agree that the restrictions contained in Article 14.1 shall apply to the Defaulting Party (and its Affiliates) in accordance with the terms of this JVA). Initials of Authorized Representative of ARI Member Initials of Authorized Representative of AMTEK Member
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Related to Ceasing to be a Shareholder

  • Rights as a Shareholder The Optionee shall have no rights as a shareholder with respect to any shares which may be purchased by exercise of this option (including, without limitation, any rights to receive dividends or non-cash distributions with respect to such shares) unless and until a certificate representing such shares is duly issued and delivered to the Optionee. No adjustment shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued.

  • No Rights as a Shareholder Except as otherwise provided herein, the Warrantholder will not, by virtue of ownership of the Warrant, be entitled to any rights of a shareholder of the Company but will, upon written request to the Company, be entitled to receive such quarterly or annual reports as the Company distributes to its shareholders.

  • Rights as a Stockholder The Participant shall have no rights as a stockholder with respect to any shares covered by the Option unless and until the Participant has become the holder of record of the shares, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such shares, except as otherwise specifically provided for in the Plan.

  • No Rights as a Stockholder Nothing contained herein shall entitle the Holder to any rights as a stockholder of the Company or to be deemed the holder of any securities that may at any time be issuable on the exercise of the rights hereunder for any purpose nor shall anything contained herein be construed to confer upon the Holder, as such, any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value or change of stock to no par value, consolidation, merger, conveyance or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or any other rights of a stockholder of the Company until the rights under the Warrant shall have been exercised and the Shares purchasable upon exercise of the rights hereunder shall have become deliverable as provided herein.

  • Voting Rights as a Stockholder Subject to the terms of the Insider Letter described in Section 4.4 hereof and except as herein provided, the Initial Stockholders shall retain all of their rights as stockholders of the Company during the Escrow Period, including, without limitation, the right to vote such shares.