Proxy Term Clause Samples
Proxy Term. 3.1 With respect to the Domestic Co, the proxy term under this Agreement shall commence from the effective date hereof and end upon: (i) the Completion Date (as defined below) of the transfer of the Equity Interest in its entirety to Newegg Inc., a Delaware corporation (“Newegg Inc”), Tekhill and/or their designee(s); or (ii) dissolution of the Domestic Co, whichever is earlier. The “Completion Date” of transfer of the Equity Interest in its entirety shall mean the Domestic Co shall have completed all formalities regarding change of registration of its shareholders with the competent industrial and commercial administration and that Newegg Inc., Tekhill and/or their designee(s) shall have become the legitimate holder(s) of all the Equity Interest.
Proxy Term. (a) Simultaneously with the execution and delivery of this Agreement by CBH Capital, CBH Capital has executed and delivered an Irrevocable Proxy in substantially the form of Exhibit A to this Agreement (the "IRREVOCABLE PROXY"), pursuant to which Saal▇▇▇▇ ▇▇▇ been designated as attorney and proxy to vote CBH Capital's Shares. This Agreement shall constitute a voting agreement within the meaning of Section 461 of the Michigan Business Corporation Act (the "ACT") and the Irrevocable Proxy therefore shall be irrevocable in accordance with Section 422 of the Act.
(b) CBH Capital and the Company are parties to an Option Agreement dated February 8th, 1999 (the "OPTION AGREEMENT"). This Agreement and the Irrevocable Proxy shall terminate only upon the expiration of the Option Period, as defined in the Option Agreement.
Proxy Term. For the purposes of this Agreement, "Proxy Term" shall mean the period from the execution of this Agreement until the earlier of (a) the termination of the Merger Agreement or (b) the Effective Time (as such term is defined in the Merger Agreement).