One party Sample Clauses

One party. For all purposes under this Agreement, each Shareholder and its Permitted Transferees shall be considered as one Party enjoying all the rights and assuming all of the obligations pursuant to the terms of this Agreement. In a situation where a Shareholder has one or more Permitted Transferees, the Shareholder in question, so long as it remains a Shareholder, shall be deemed, for all legal purposes, to have an irrevocable power of attorney from its Permitted Transferees with respect to all matters arising out of this Agreement. Any decision by such Shareholder shall be binding upon its Permitted Transferees. The liability of such Shareholder and its Permitted Transferees shall be solidary. In the event that the Shareholder in question ceases to be a Shareholder and more than one of its Permitted Transferees remain Shareholders, then the Permitted Transferee with the greatest number of Shares shall become the agent and attorney of the other Permitted Transferees.
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One party. Transferor or Transferee
One party refers to the consigner or the agent, and “both parties” refers to the consigner and the agent.