Defaulting Shareholder definition

Defaulting Shareholder has the meaning set out in clause 16.7;
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Defaulting Shareholder shall have the meaning ascribed to it in Clause 8.1;
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Defaulting Shareholder means a shareholder of the Corporation who defaults in the payment of any Shareholder Debt when the same becomes due and payable.
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Examples of Defaulting Shareholder in a sentence

  • The fees and expenses of the Independent Financial Expert shall be borne solely by the Defaulting Shareholder.

  • Defaulting Shareholder shall give the Defaulting Shareholder a written notice of default (a “Notice of Default”), which shall describe the default in reasonable detail and state the date by which the default must be cured, which date for curing or commencing to cure shall be in accordance with the time provisions set out in this Agreement.

  • Failure of a Non-Defaulting Shareholder to give a Notice of Default shall not release the Defaulting Shareholder from any of its duties under this Agreement.

  • The mechanism described in this Section 5.1 is intended to operate as a liquidated damage provision since the damage to the Company and the Other Subscribers resulting from a default by the Defaulting Shareholder is both significant and not easily susceptible to precise quantification.

  • No course of dealing between the Fund and any Defaulting Shareholder and no delay in exercising any right, power or remedy conferred in this Section 7 or now or hereafter existing at law or in equity or otherwise shall operate as a waiver or otherwise prejudice any such right, power or remedy.


More Definitions of Defaulting Shareholder

Defaulting Shareholder has the meaning set out in Section 8.1;
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Defaulting Shareholder means a Shareholder who fails to comply with the
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Defaulting Shareholder means a Shareholder in respect of whom an Event of Default has occurred and is continuing.
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Defaulting Shareholder has the meaning given to that term in clause 18.1.
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Defaulting Shareholder means, at any time, a Shareholder who, at or prior to such time, has
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Defaulting Shareholder has the meaning given in clause 9.2 (Events of Default and deemed transfers);
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Defaulting Shareholder shall have the meaning assigned to such term in Section 4.2.
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