Irrevocable Proxy is Coupled With an Interest Clause Samples
An "Irrevocable Proxy Coupled With an Interest" is a legal provision that grants one party the authority to act on behalf of another, and this authority cannot be revoked as long as the proxy holder maintains a specific interest in the subject matter. For example, a lender may receive an irrevocable proxy to vote shares of a borrower as security for a loan, and this proxy remains effective until the loan is repaid. This clause ensures that the proxy holder's rights are protected and cannot be unilaterally withdrawn, thereby securing their interest and providing stability in transactions where ongoing authority is essential.
Irrevocable Proxy is Coupled With an Interest. Any irrevocable proxies granted pursuant to this Agreement are and shall be coupled with an interest sufficient in law to support an irrevocable proxy, and are and shall be granted in consideration of and as an inducement to cause the Investors to enter into this Agreement and the Preferred Purchase Agreement and to consummate the Financing.
Irrevocable Proxy is Coupled With an Interest. All Parties hereby acknowledge and agree that the Irrevocable Proxy is coupled with an interest sufficient to support the irrevocable power.