Deemed Record Date Clause Samples
The Deemed Record Date clause establishes a specific date on which individuals or entities are officially recognized as holders of certain rights, such as shares or entitlements, for the purposes of a transaction or corporate action. In practice, this means that only those listed as holders on the deemed record date are eligible to receive dividends, vote, or participate in distributions, regardless of subsequent transfers. This clause ensures clarity and certainty regarding who is entitled to benefits or rights at a given time, thereby preventing disputes and administrative confusion.
Deemed Record Date. If the Board does not so fix a record date:
Deemed Record Date. In the absence of a resolution of the directors fixing a record date for a Rights Offering or a Special Distribution, the Company shall be deemed to have fixed as the record date therefore the earlier of the date on which holders of record of Common Shares are determined for the purpose of participating in the Rights Offering or Special Distribution and the date on which the Rights Offering or Special Distribution becomes effective.
Deemed Record Date. In the absence of a resolution of the Directors fixing a record date for a Rights Offering, the Corporation shall be deemed to have fixed as the record date therefor the date of the issue of the rights, options or warrants issued pursuant to the Rights Offering.