B Shares definition
Examples of B Shares in a sentence
All of the issued and outstanding Class B Shares have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities laws.
The Trustee is hereby directed to hold and retain B Shares, without any power, duty or authority to vary, diversify, convert, lend, vote, pledge or encumber such investments, until the transfer and delivery and/or sale of B Shares in accordance with section (a) of Article FIRST.
For the avoidance of doubt, the primary purpose of this Trust is to carry out the delivery and transfer of the B Shares in accordance with the terms and conditions of the Shareback Agreement.
The Trustee shall make no delivery or transfer of B Shares pursuant to this provision until the Trustee receives the written information required to be delivered to the Trustee pursuant to the terms and conditions of the Shareback Agreement.
Notwithstanding the foregoing provisions, the Enforcer shall have the power to direct the Trustee, in writing, to sell B Shares to the Grantor, for such price and on such terms and conditions as the Enforcer determines, provided that such sale is not in violation of the terms and conditions of the Shareback Agreement.