Common use of Shareholding Pattern Clause in Contracts

Shareholding Pattern. OMC will be allotted 26% of the issued & paid up equity share capital of the JVC in consideration of expenses incurred in respect of services rendered by OMC for operating the Mines by the JVC as a raising contractor and 74% of the equity share capital will be held by VEDANTA. Throughout the tenure of this Agreement OMC's share holding will be minimum 26% of the issued & paid up share capital free and clear of all liens, restrictions, security interests & other adverse claims. OMC will not be required to contribute any cash at any point of time, or make any financial commitment to the JVC of any nature.