Relationship of the Shareholders Clause Samples

The 'Relationship of the Shareholders' clause defines the nature of the association between the shareholders of a company. It typically clarifies that shareholders are not considered partners or agents of one another and that their rights and obligations are limited to those set out in the agreement and relevant corporate laws. This clause helps prevent misunderstandings about the extent of each shareholder's authority and liability, ensuring that no shareholder can bind the others or the company beyond their agreed roles, thereby reducing the risk of unintended legal or financial exposure.
Relationship of the Shareholders. It is expressly agreed that the relationship of the Shareholders shall be that of joint venturers and not that of partners. Accordingly, the Business shall be conducted as the business of the Group Companies and no Shareholder shall represent to any person that such Shareholder is authorised to act on behalf of any of the other Shareholder or that any partnership, agency, employment or joint liability exists between the Shareholders in respect of any person who is not a party to this Agreement.
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Relationship of the Shareholders. 9.1 The relationship of the shareholders (members) between themselves shall be governed by this Memorandum of Understanding and none of the shareholders shall: 9.1.1 be entitled or empowered to represent or hold out to any third party that the relationship between them is that of a partnership, joint venture or the like; or 9.1.2 by reason of the actions of any of them incur any personal liability as co-­‐shareholders (co-­‐members) to any third party or be entitled to bind the credit of any other shareholder (member) 9.2 The Shareholders register their commitment to engage in Board initiated discussions and or processes where these may be necessary to facilitate mediation and or clarification of personal differences and misunderstanding between (individual) Shareholders.
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Relationship of the Shareholders. 21.1 No Shareholder shall represent itself as the agent or legal representative of any other Party for any purpose whatsoever. 21.2 Nothing in this Agreement is intended, or shall be deemed, to constitute a partnership between the Parties. y may assign all or any of its rights or obligations under this Agreement itten consent of the other Parties. to Clause 23.2, no variation (including a replacement) of this Agreemen e unless made in writing and signed by Shareholders together holding a res then in issue and in which event such change shall be binding on all hange made pursuant to Clause 23.1 would (in the opinion of the Board l new obligations on a Party or significantly alter any existing right or m on of a Party, the written consent of the affected Party or Parties shall b d. ver by a Party of any requirement of this Agreement or any right which i eement shall be valid unless such waiver is in writing (excluding email) ssion to exercise, or delay by any Party in exercising, any right under thi erate as a waiver of such right nor shall any single or partial exercise of e the exercise of any other right. hts conferred on the Parties in this Agreement are cumulative and in ad ghts available to them. rovision of this Agreement (or any part of any provision) shall be held t or unenforceable, the remainder of this Agreement shall remain in force. legal, invalid or unenforceable provision would be legal, valid and enfor it were deleted or modified, that provision shall apply with whatever mo ry to give effect to the commercial intention of the Parties. rty shall bear its own costs incurred in relation to the preparation, nego ▇▇▇▇▇ of this Agreement. e given under this Agreement:
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Relationship of the Shareholders. 18.1 No Shareholder shall represent itself as the agent or legal representative of any other Shareholder for any purpose whatsoever. n the Shareholders. to Clause 19.3, this Agreement is personal to the Parties and no Party assign any of its rights under this Agreement; transfer any of its obligations under this Agreement; sub-contract or delegate any of its obligations under this Agreement; o charge or deal in any other manner with this Agreement or any of its ri obligations. ported assignment, transfer, sub-contracting, delegation, charging or d ention of Clause 19.1 shall be ineffective. stor may assign the whole or part of any of its rights under this Agreem ed Transferee to whom it has transferred Shares in accordance with this to Clause 20.2, no variation (including a replacement) of this Agreemen e unless made in writing and signed by Shareholders (including each In 90% of the Shares then in issue and in which event such change shall e Parties. hange made pursuant to Clause 20.1 would (in the opinion of the Board l new obligations on a Party or significantly alter any existing right or m on of a Party, the written consent of the affected Party or Parties shall b d. ver by a Party of any requirement of this Agreement or any right which i eement shall be valid unless such waiver is in writing (excluding email). ssion to exercise, or delay by any Party in exercising, any right under thi erate as a waiver of such right nor shall any single or partial exercise of e the exercise of any other right. hts conferred on the Parties in this Agreement are cumulative and in ad ghts available to them. 18.2 Nothing in this Agreement is intended, or shall be deemed, to constitute a partnership betwee 19.1 Subject may: (a) (b) (c) r (d) ghts or 19.2 Any pur ealing in contrav 19.3 An Inve ent to any Permitt Agreement.
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Relationship of the Shareholders. (1) Neither this Agreement nor the Articles will be interpreted as constituting: (a) the relationship of the Shareholders as a partnership, quasi-partnership, association or any other relationship in which one or more of the Shareholders may (except as specifically provided for in this Agreement) be liable generally for the acts or omissions of any other Shareholder; or (b) any Shareholder as the partner, agent or representative of any other Shareholder or of the Company for any purpose whatsoever (with the exception of any powers of attorney specifically granted or contemplated by this Agreement) and nothing in this Agreement or the Articles will create or be deemed to create a fiduciary relationship between the Shareholders, or between the Company and the Shareholders or any of them. (2) Without limiting section 7.3(1), no Shareholder has the authority to pledge or purport to pledge the credit of any other Shareholder or the Company or to make or give (or purport to make or give) any representations, warranties or undertakings for or on behalf of any other Shareholder or the Company. (3) The rights, duties, obligations and liabilities of the Parties will be several and not joint or collective. Each Shareholder will be responsible only for its obligations and will be liable only for its share of the costs and expenses as expressly set out in this Agreement. Each Party must indemnify, defend and hold harmless each other Party and its Personnel from and against any Claim arising out of any act or any assumption of liability by the indemnifying Party or any of its Personnel done or undertaken or apparently done or undertaken on behalf of any other Party, except pursuant to the authority expressly granted in or pursuant to this Agreement or as otherwise agreed in writing between the Parties.
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Relationship of the Shareholders 
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Related to Relationship of the Shareholders

  • Relationship of the Parties Nothing contained in this Agreement shall be construed to make one Party an agent of the other Party nor shall either party have any authority to bind the other in any respect, unless expressly authorized by the other party in writing. The Parties are independent contractors and nothing in this Agreement creates a relationship of employment, trust, agency or partnership between them.

  • Ownership of the Shares The Selling Shareholders own all of the Shares, free and clear of all liens, claims, rights, charges, encumbrances, and security interests of whatsoever nature or type.

  • Relationship of Parties Nothing in this Agreement shall be deemed or construed by the parties or any third party as creating the relationship of principal and agent, partnership or joint venture between the parties, it being understood and agreed that no provision contained herein, and no act of the parties, shall be deemed to create any relationship between the parties other than the relationship set forth herein.

  • Relationship of Advisor and Company The Company and the Advisor are not partners or joint venturers with each other, and nothing in this Agreement shall be construed to make them such partners or joint venturers or impose any liability as such on either of them.

  • Ownership of the Company At all times while this Parent Guarantee Agreement is in effect and while any of the obligations of the Parent Guarantor hereunder remain outstanding, one hundred percent (100%) of the outstanding capital stock of the Company shall be owned by the Parent Guarantor.