15% Shareholder definition

15% Shareholder means when referring to the Investor, that the Investor Parties and their Permitted Transferees, collectively hold Voting Securities (and derivative instruments convertible, exchangeable or exercisable into Voting Securities) that collectively constitute 15% or more of the Voting Securities outstanding at such time.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

15% Shareholder means any Person that Beneficially Owns 15% or more of the Voting Shares of the Company then outstanding; provided, however, that the term “15% Shareholder” shall not include: (i) an Exempt Person; (ii) any Person that would not otherwise be a 15% Shareholder but for a reduction in the number of outstanding Voting Shares resulting from a stock repurchase program or other similar plan of the Company or from a self-tender offer of the Company, which plan or tender offer commenced on or after the date hereof; provided, however, that the term “15% Shareholder” shall include such Person from and after the first date upon which (A) such Person, since the date of the commencement of such plan or tender offer, shall have acquired Beneficial Ownership of, in the aggregate, a number of Voting Shares of the Company equal to 1% or more of the Voting Shares of the Company then outstanding and (B) such Person, together with all Affiliates and Associates of such Person, shall Beneficially Own 15% or more of the Voting Shares of the Company then outstanding; or (iii) any Person that would not otherwise be a 15% Shareholder but for its Beneficial Ownership of Rights. In calculating the percentage of the outstanding Voting Shares that are Beneficially Owned by a Person for purposes of this definition, Voting Shares that are Beneficially Owned by such Person shall be deemed outstanding, and Voting Shares that are not Beneficially Owned by such Person and that are subject to issuance upon the exercise or conversion of outstanding conversion rights, exchange rights, rights, warrants or options shall not be deemed outstanding. Any determination made by the Board of Directors of the Company as to whether any Person is or is not a 15% Shareholder shall be conclusive and binding upon all holders of Rights.

15% Shareholder means any Person who or which, together with all Affiliates and Associates of such Person, shall be the Beneficial Owner of 15% or more of the shares of Common Stock then outstanding, but shall not include (i) the Company, any Subsidiary of the Company, any employee benefit plan of the Company or of any Subsidiary of the Company, or any Person or entity organized, appointed or established by the Company for or pursuant to the terms of any such plan or (ii) any Acquiring Person.

Examples of 15% Shareholder in a sentence

A "Third-Party Initial Triggering Event" shall mean any of the events described in Section 2(b)(iii)(A) or (B) (other than the formation of a group that includes an "Existing 15% Shareholder"), Section 2(b)(iv), or Section 2(b)(vi) of the Option Agreements.
From and after the first event of the type described in paragraphs (b) or (c) below, each Right that is beneficially owned by a 15% Shareholder or that was attached to a Common Share that is subject to an option beneficially owned by a 15% Shareholder shall be void.
Subject to Section 1.5, Shareholder hereby covenants and agrees that during the term of this Agreement, Shareholder will not (a) directly or indirectly, sell, transfer, assign, pledge, hypothecate, tender, encumber or otherwise dispose of or limit its right to vote in any manner any of the Securities, or agree to do any of the foregoing, or (b) take any action which would have the effect of preventing or disabling Shareholder from performing its obligations under this Agreement.
The Performance Period under the Performance Award shall be the five year period commencing on December 5, 1996; and the Performance Measure shall be a 15% Shareholder Return over the Performance Period.
Praxis 11/1/12 15 Shareholder internet access to account information and transaction capabilities through a hyperlink at the fund group web site.
Any decision to redeem the Rights must be approved by a majority of directors who are not a 15% Shareholder or representatives, nominees or affiliates of a 15% Shareholder.
A Trustee, when acting in such capacity, shall not be personally liable to any Person, other than the Trust or a 48030, v0.3 15 Shareholder to the extent provided in this Article VII, for any act, omission or obligation of the Trust, of such Trustee or of any other Trustee.
The Initial Employee Number is 15, Shareholder hires 4 persons (none of which are ▇▇▇▇ ▇▇▇▇▇▇), and there are 3 Terminating Employees.
The undersigned hereby certifies that the Rights evidenced by this Right Certificate are not Beneficially Owned by a 15% Shareholder or an Affiliate or Associate thereof (as defined in the Rights Agreement).
Subject to Clause 15 (Shareholder Reserved Matters) and save as otherwise agreed by the Shareholders, the Board shall prepare the Company’s and the Group’s consolidated financial statements in accordance with Saudi GAAP and US GAAP.

More Definitions of 15% Shareholder

15% Shareholder means any Person that Beneficially Owns 15% or more of the Voting Shares of the Company then outstanding; provided, however, that the term "15% Shareholder" shall not include: (i) an Exempt Person; (ii) any Person that would not otherwise be a 15% Shareholder but for a reduction in the number of outstanding Voting Shares resulting from a stock repurchase program or other similar plan of the Company or from a self tender offer of the Company, which plan or tender offer commenced on or after the date hereof; provided, however, that the term "15% Shareholder" shall include such Person from and after the first date upon which (A) such Person, since the date of the commencement of such plan or