Nature of a stock Sample Clauses

Nature of a stock. A stock is a share or owner certificate which certifies in a stock certificate the stakeholder rights of the stockholder in a stock corporation. The owner or holder of a stock is not a creditor of the company, but rather holds an equity interest in the company as the co-owner of the assets. Stocks may be subject to different concepts in terms of transferability (fungibility). In fact, in case of bearer shares, a transfer of title of ownership is not subject to any special form requirements. In case of registered stocks, however, the stocks are registered in the investor’s name in the company’s stock register. Vis-à-vis the company, only the persons registered in said register are deemed stockholders. Only those persons may therefore exercise their rights either themselves or by proxy. If a stockholder waives registration in the stock register, that stockholder typically does not receive any information from the company nor does the stockholder receive an invitation to any general assemblies. Thus, the stockholder de facto loses their voting right. So-called registered shares with restricted transferability are a special type of registered stocks. The transfer of such shares to a new stockholder required the company’s prior approval. Without such approval, the stock cannot be transferred. Common stock: Common stock is the most common type of stocks and grant the stockholder the legal and statutory rights related to them. Preferred stock: Preferred stock, on the other hand, typically entail preemptive rights regarding the distribution of profits or the proceeds from any liquidation or insolvency proceedings. Preferred stock may be issued with or without voting rights. More often than not, they do not grant the stockholder the right to vote in general assemblies.
Sample 1
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Related to Nature of a stock

  • Nature of Dividends Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

  • Nature of Grant In accepting the grant, the Participant acknowledges, understands and agrees that:

  • Nature of Business Substantially change the nature of the business in which it is presently engaged, nor except as specifically permitted hereby purchase or invest, directly or indirectly, in any assets or property other than in the Ordinary Course of Business for assets or property which are useful in, necessary for and are to be used in its business as presently conducted.

  • Nature of Services Executive shall diligently perform such duties and assume such responsibilities as shall from time to time be specified by the Company.

  • Nature of Agreement You understand and agree that this letter agreement is a severance agreement and does not constitute an admission of liability or wrongdoing on the part of the Company.

  • Nature of Service 3.1 ISO-NE and the NYISO shall, to the maximum extent each deems consistent with the safe and proper operation of its system, the furnishing of economical, dependable and satisfactory services by its participants, and the obligations of its participants to other parties, make available to the other Party when a system Emergency exists on the other Party's system, Emergency Energy from its system's available generating capability in excess of the system’s load requirements (i.e., load requirements alone, not load plus reserve requirements) up to the transfer limits in use between the two Balancing Authority Areas. Emergency Energy is provided in cases of emergency outages of generating units, transmission lines or other equipment, or to meet other sudden and unforeseen circumstances such as forecast errors, or to provide sufficient Operating Reserve. Normally, a Party requests Emergency Energy from the other Party as a last resort, when market-based real-time energy transactions are not available, or not available in a timely fashion in order to maintain its ten-minute reserve requirement. At the time the Emergency Energy sale is being initiated, the Party delivering such Emergency Energy shall describe the Emergency Energy transaction as being one of the following: (1) “delivered out of ten-minute reserve”; (2) “delivered out of thirty-minute reserve” where such a delivery could reasonably be expected to be recalled if the Party delivering the Emergency Energy needed the generation for a reserve pick-up or other Emergency; or (3) “delivered above and beyond ten-minute and thirty-minute reserves” where the Party delivering such Emergency Energy is normally expected to be able to continue delivering the energy following a reserve pick-up.

  • Nature of Disposition Disposition shall be by destruction or deletion of data. Disposition shall be by a transfer of data. The data shall be transferred to the following site as follows: [Insert or attach special instructions]

  • Nature of Payment Each of the Settling Distributors, the Settling States, and the Participating Subdivisions acknowledges and agrees that notwithstanding anything to the contrary in this Agreement, including, but not limited to, the scope of the Released Claims:

  • Nature of sampling Samples of lamps shall be selected at random from the production of a uniform batch. A uniform batch means a set of lamps of the same type, defined according to the production methods of the manufacturer. The assessment shall in general cover series production from individual factories. However, a manufacturer may group together records concerning the same type from several factories, provided these operate under the same quality system and quality management.

  • CONDITIONAL NATURE OF AGREEMENT Notwithstanding any provision of this Agreement to the contrary, all obligations of the State hereunder, including, without limitation, the continuance of payments hereunder, are contingent upon the availability and continued appropriation of funds affected by any state or federal legislative or executive action that reduces, eliminates or otherwise modifies the appropriation or availability of funding for this Agreement and the Scope for Services provided in EXHIBIT B, in whole or in part. In no event shall the State be liable for any payments hereunder in excess of such available appropriated funds. In the event of a reduction or termination of appropriated funds, the State shall have the right to withhold payment until such funds become available, if ever, and shall have the right to reduce or terminate the Services under this Agreement immediately upon giving the Contractor notice of such reduction or termination. The State shall not be required to transfer funds from any other account or source to the Account identified in block 1.6 in the event funds in that Account are reduced or unavailable.

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