Claims of Shareholders Clause Samples
The "Claims of Shareholders" clause defines the rights and priorities of shareholders to make claims against the company, particularly in situations such as liquidation or distribution of assets. This clause typically outlines the order in which shareholders are paid relative to other creditors and may specify the types of claims shareholders can assert, such as claims for dividends or return of capital. Its core practical function is to clarify the legal standing of shareholders' claims, ensuring transparency and managing expectations regarding payouts in various corporate scenarios.
Claims of Shareholders. Each Shareholder hereby releases and gives up any and all claims that he has against the Purchased Assets, including, without limitation, those claims referred to in Schedule 5.9.
Claims of Shareholders. No Shareholder will have any right to seek damages, reimbursement, indemnification, contribution, or similar rights from Company or any officer or employee of Company for Losses for which Shareholder is liable under this Section.
Claims of Shareholders. The Shareholders shall look solely to the Company’s assets for the return of their Capital Contributions, and if the assets of the Company remaining after payment of or due provision for all debts, liabilities and obligations of the Company are insufficient to return such Capital Contributions, the Shareholders shall have no recourse against the Company or any other Shareholder or any other Person.
Claims of Shareholders. The Shareholders shall look solely to the Company’s assets for the return of their Capital Contributions, and if the assets of the Company remaining after payment of or due provision for all debts, liabilities and obligations of the Company are insufficient to return such capital contributions, the Shareholders and former Shareholders shall have no recourse against the Company, any Director, any other Shareholder or any Affiliates of any Shareholder. No Shareholder shall have any obligation to make any Capital Contributions with respect to such insufficiency, and such insufficiency shall not be considered a debt owed to the Company or to any other Person.