Cukurova definition
Examples of Cukurova in a sentence
The capital shall be represented as to 47.09 % by registered Class A Shares owned by Sonera and as to 52.91 % by registered Class B Shares owned by Cukurova.
Any notice addressed to Cukurova pursuant to this Agreement shall be binding on and also constitute a notice delivered on the Nominee Shareholders.
Pursuant to the Deadlock Option Notice of the Company dated 13 March 2015 (the “Notice”), the Company has made an offer to purchase the Shares (as defined herein) from Cukurova Finance International Limited, a BVI business company incorporated under the laws of the British Virgin Islands (“CFI”).
The Board of Directors of the Company shall nominate two nominees of Sonera and two nominees of Cukurova as the board members to represent the Company on the Turkcell board of directors.
The Cukurova Parties hereby agree for no additional consideration or payment to do execute and deliver any such further acts documents and things as Alfa may reasonably require to vest in Alfa the beneficial ownership of the Convertible Bonds and to vest in the Company the beneficial ownership of the Relevant Shares free from all encumbrances, charges, liens and other adverse interests and to vest the benefit of this Agreement in Alfa.
Alfa shall have the right to appoint two Directors and Cukurova shall have the right to appoint three Directors, in each case in accordance with clause 3.4.
Cukurova hereby undertakes that it shall not and it shall procure that its nominees aforesaid shall not exercise any voting rights or any other powers in relation to those four shares.
Further, the Board shall not make any decision to retain any profits in lieu of distributing dividends until sufficient dividends have been distributed to satisfy all amounts then due and payable by Cukurova to Alfa under the Financing Agreements.
The Shareholders Meeting shall appoint for a one year term as the Company’s statutory auditors four persons two of whom shall be persons nominated by Sonera and two shall be persons nominated by Cukurova.
Alfa and Cukurova will take all necessary actions to ensure that dividends are paid only in accordance with this provision.