Information Vcoc Sample Clauses
The "INFORMATION; VCOC" clause primarily requires the company to provide certain information to investors, particularly those that are venture capital operating companies (VCOCs). In practice, this clause obligates the company to deliver regular financial statements, updates, and other relevant data that VCOCs need to comply with their own regulatory or reporting requirements. By ensuring that VCOCs receive timely and sufficient information, the clause helps these investors maintain their compliance with applicable laws and regulations, thereby facilitating their continued investment in the company.
Information Vcoc. (a) The Company shall furnish the Purchasers with such financial and operating data and other information with respect to the business and properties of the Company as the Company prepares and compiles for its directors in the ordinary course and as the Purchasers may from time to time request. The Company shall permit each of the Purchasers to discuss the affairs, finances and accounts of the Company with, and to make proposals and furnish advice with respect thereto to, the principal officers of the Company.
(b) The rights set forth in this Article IV are intended to satisfy the requirement of contractual management rights for purposes of qualifying the Purchaser's ownership interests in the Company as venture capital investments for purposes of the Department of Labor's "plan assets" regulations.
Information Vcoc. For so long as Shareholder and its affiliates own directly or indirectly at least one million shares of Common Stock, and there is no nominee of the Shareholder or its affiliates then serving as a director of the Company: (x) the Company will furnish the Shareholder with such financial and operating data and other information with respect to the business and properties of the Company as the Company prepares and compiles for its directors in the ordinary course; and (y) the Company will permit the Shareholder to discuss the affairs, finances and accounts of the Company with, and to make proposals and furnish advice with respect thereto to, the principal officers of the Company. In addition, for so long as the Shareholder and its affiliates own directly or indirectly at least one million shares of Common Stock, the Shareholder shall be entitled to receive upon request made to the chief executive officer of the Company, with notice to the Company’s Chairman, periodic briefings from the chief executive officer and the chief financial officer of the Company with respect to the business and affairs of the Company, so as to assist the Shareholder in monitoring its investment in the Company, provided that the Shareholder shall not be entitled to request more than one such briefing during any calendar quarter. The rights set forth in this Section 5 are intended, in part, to satisfy the requirement of contractual management rights for purposes of qualifying the Shareholder’s continuing ownership interests in the Company as venture capital investments for purposes of the Department of Labor’s “plan assets” regulations.
Information Vcoc