BVI definition
Examples of BVI in a sentence
For the avoidance of doubt, any holder seeking to exercise dissenters' rights must do so strictly in accordance with Section 179 of the BVI Companies Act, including the requirement to deliver a written objection prior to the vote on the Merger (or, if no vote is required, prior to the Effective Time), to deliver a notice of election to dissent within the statutory periods and to comply with any deposit and certification requirements.
At the Effective Time, the effect of the Merger will be as provided in this Agreement, the Articles of Merger and the BVI Companies Act.
In connection with the operation of the Business through the Group in the Territory, UTG, PLBY (BVI) Limited (“PLBY”), Playboy Enterprises, Inc., and Playboy China (BVI) Limited, have entered into that certain Share Purchase Agreement, dated as of the date hereof (the “Share Purchase Agreement”).
Without limiting the generality of the foregoing, and subject thereto, at the Effective Time, all the property, rights and privileges of the Target and Merger Sub shall vest in the Surviving Sub in accordance with the BVI Companies Act, and all debts, liabilities, obligations and duties of the Target and Merger Sub shall become debts, liabilities, obligations and duties of the Surviving Sub.
At the Effective Time, by virtue of the Merger, the existing memorandum and articles of association of the Target in effect immediately prior to the Effective Time shall be the memorandum and articles of association of the Surviving Sub, except such memorandum and articles of association shall be amended and restated as may be necessary, subject to approvals by CIGL and the Target, and be filed with the BVI Registrar before the Closing (the “Surviving Sub A&R MAA”).