Common use of Relationship of the Shareholders Clause in Contracts

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.

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-shareholders (co-­‐membersco-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.