Controlling ownership interest definition
Examples of Controlling ownership interest in a sentence
Explanation- a) "Controlling ownership interest" means ownership of, or entitlement to, more than twenty-five per cent of shares or capital or profits of the company; b) "Control" shall include the right to appoint the majority of the directors or to control the management or policy decisions, including by virtue of their shareholding or management rights or shareholder’s agreements or voting agreements; II.
Each of the Borrower and its Subsidiaries owns, free and clear of all Liens (other than Permitted Liens) and has the unencumbered right to vote, all outstanding Equity Interests in each Subsidiary which directly or indirectly owns an Eligible Property (other than any Subsidiary which directly or indirectly owns the K▇▇▇▇▇▇▇▇▇▇▇▇ Hotel, provided that the Borrower retains, directly or indirectly, at least a 95.0% Controlling ownership interest therein).