Dissolution by Shareholder Vote Clause Samples

The 'Dissolution by Shareholder Vote' clause establishes the process by which a company can be dissolved through the approval of its shareholders. Typically, this clause outlines the required voting threshold—such as a simple majority or supermajority—and the procedures for calling and conducting the vote. For example, it may specify that a special meeting must be convened and that all shareholders are entitled to participate in the decision. The core function of this clause is to provide a clear, democratic mechanism for winding up the company, ensuring that such a significant action reflects the collective will of the ownership and is carried out in an orderly manner.
Dissolution by Shareholder Vote. The Company may be dissolved at any time, without the necessity for concurrence by the Board, upon affirmative vote by the holders of more than fifty percent (50%) of the outstanding Shares entitled to vote on the matter.
View SourceView Similar (10)
Dissolution by Shareholder Vote. The Trust may be dissolved at any time, without the necessity for concurrence by the Board of Trustees, upon affirmative vote by the holders of more than 50% of the outstanding Shares entitled to note on the matter.
View SourceView Similar (2)

Related to Dissolution by Shareholder Vote

  • Shareholder Vote The issuance of shares of Common Stock with respect to the applicable Closing, if any, shall not violate the shareholder approval requirements of the Principal Market.

  • Redemption by Shareholder (a) Unless the Trustees otherwise determine with respect to a particular Series or Class at the time of establishing and designating the same and subject to the 1940 Act, each holder of Shares of a particular Series or Class thereof shall have the right at such times as may be permitted by the Trust to require the Trust to redeem (out of the assets belonging to the applicable Series or Class) all or any part of his Shares at a redemption price equal to the Net Asset Value per Share of that Series or Class next determined in accordance with Section 7.4 after the Shares are properly tendered for redemption, less such redemption fee or other charge, if any, as may be fixed by the Trustees. Except as otherwise provided in this Trust Instrument, payment of the redemption price shall be in cash; provided, however, that to the extent permitted by applicable law, the Trustees may authorize the Trust to make payment wholly or partly in securities or other assets belonging to the applicable Series at the value of such securities or assets used in such determination of Net Asset Value. Subject to the foregoing, the fair value, selection, and quantity of securities or other assets so paid or delivered as all or part of the redemption price may be determined by or under the authority of the Trustees. In no case shall the Trust or the Trustees be liable for any delay of any Person in transferring securities selected for delivery as all or part of the redemption price. (b) Notwithstanding the foregoing, the Trust may postpone payment of the redemption price and may suspend the right of the holders of Shares of any Series or Class to require the Trust to redeem Shares of that Series or Class during any period or at any time when and to the extent permissible under the 1940 Act. (c) If a Shareholder shall submit a request for the redemption of a greater number of Shares than are then allocated to such Shareholder, such request shall not be honored.