Foreign Ownership. As of the date hereof, immediately prior to, and, assuming the Ruling has been obtained and the Investors have complied with any requirements thereunder, immediately following the Closing, to the Company's Knowledge, "Non-Citizens" (as defined in the Company's Certificate of Incorporation) beneficially own (as determined pursuant to Rule 13d-3 under the Exchange Act) not more than 24.9% of the outstanding shares of Common Stock.
Appears in 3 contracts
Sources: Stock Purchase Agreement (Seabulk International Inc), Stock Purchase Agreement (Seabulk International Inc), Stock Purchase Agreement (Seabulk International Inc)