Not a Control Person Sample Clauses

The 'Not a Control Person' clause defines that a party to the agreement is not considered a 'control person' with respect to another party or entity. In practice, this means that the party does not have the authority or power to direct the management or policies of the other entity, whether through ownership, contract, or otherwise. This clause is important because it clarifies the relationship between the parties, ensuring that regulatory or legal responsibilities associated with being a control person do not apply, thereby reducing potential liability and compliance obligations.
Not a Control Person. The Corporation does not beneficially own or exercise control or direction over 10% or more of the outstanding voting shares of any company that holds any assets or conducts any operations.
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Not a Control Person. The Subscriber represents and warrants that the Subscriber is not one of a combination of shareholders of the Issuer or investors in the Private Placement (including by acting jointly or in concert with any such shareholder or investor) as a consequence of which the issuance of Securities to the Subscriber hereunder (assuming the exercise of the Warrants to be issued hereunder to, and any convertible securities of the Issuer currently held by, the Subscriber and any such other shareholders or investors) will result in, or be part of a transaction that will result in, the creation of a new “Control Person” of the Issuer under the policies of the Exchange.
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Not a Control Person. Other than Elmira US, the Company does not beneficially own or exercise control or direction over 10% or more of the outstanding voting shares of any company that holds any assets or conducts any operations.
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Not a Control Person. The Subscriber (and any Disclosed Beneficial Subscriber) is not and will not become a “control person” of the Issuer by virtue of the purchase of the Subscriber’s Securities under this Subscription Agreement and does not act or intend to act in concert with any other person to form a control group in respect of the Issuer;
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Not a Control Person. The acquisition of the Units hereunder by the Purchaser will not result in the Purchaser becoming a “control person”, as defined under applicable Securities Laws;
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Related to Not a Control Person

  • Competitor “Competitor” means any person, firm, business or other organization or entity that designs, develops, produces, offers for sale or sells products that are in competition with the products of the Company or an Affiliate as designed, developed, produced, offered for sale or sold by the Company or an Affiliate at the time of Executive’s Separation from Service.

  • Principal Personnel The management of the Bidder company who make operational decisions. Proposed Price – The Vendor’s maximum hourly rate for an associated Job Title or Scope Variant for the initial and renewal term. A “not to exceed” price. Scope Variant – A gradation of experience within a Job Title. Staff – The temporary staff provided by the Contractor or Contractor’s subcontractor(s) to render information technology services identified by Customers. State – The State of Florida.

  • Not a Contract of Employment This Agreement shall not be deemed to constitute a contract of employment between the parties hereto, nor shall any provision hereof restrict the right of the Bank to discharge the Executive, or restrict the right of the Executive to terminate employment.

  • Restricted Employment for Certain State Personnel Contractor acknowledges that, pursuant to Section 572.069 of the Texas Government Code, a former state officer or employee of a state agency who during the period of state service or employment participated on behalf of a state agency in a procurement or contract negotiation involving Contractor may not accept employment from Contractor before the second anniversary of the date the Contract is signed or the procurement is terminated or withdrawn.

  • Key Employee Key employee means any employee or former employee (including any deceased employee) who at any time during the plan year that includes the determination date was an officer of the employer having annual compensation greater than $130,000 (as adjusted under Section 416(i)(1) of the Code for plan years beginning after December 31, 2002), a 5-percent owner of the employer, or a 1-percent owner of the employer having annual compensation of more than $150,000. For this purpose, annual compensation means compensation within the meaning of Section 415(c)(3) of the Code. The determination of who is a key employee will be made in accordance with Section 416(i)(1) of the Code and the applicable regulations and other guidance of general applicability issued thereunder.