Common use of Prohibited Shareholder Clause in Contracts

Prohibited Shareholder. No Prohibited Shareholder may own any Ownership Interest in Seller. No Transfer of any Ownership Interest in Seller may be made to a Prohibited Shareholder. If an owner of an Ownership Interest is or becomes a Prohibited Shareholder, Buyer may require the Ownership Interests of such Prohibited Shareholder be transferred within such minimum period as may be required to do so in a commercially reasonable manner and until such Transfer the Prohibited Shareholder may not have any involvement in Seller.

Appears in 3 contracts

Sources: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement