Defaulting Shareholder definition

Defaulting Shareholder has the meaning set out in clause 16.7;

Defaulting Shareholder means a shareholder of the Corporation who defaults in the payment of any Shareholder Debt when the same becomes due and payable.

Defaulting Shareholder means a Shareholder in respect of whom an Event of Default has occurred and is continuing.

Examples of Defaulting Shareholder in a sentence

• If all of the Defaulting Shareholder’s Shares and its Capital Commitments are purchased in the manner set out above, such Defaulting Shareholder shall cease to be a Shareholder in the Fund and shall cease to have the power to exercise any rights or powers of a Shareholder.

• In addition, the costs of any interim financing obtained by the ICAV on behalf of the Fund due to the Defaulting Shareholder’s failure to timely make its Capital Contributions shall be reimbursed to the Fund by the Defaulting Shareholder.

• Notwithstanding anything to the contrary provided for in this Instrument, in no event shall a Defaulting Shareholder be entitled to vote on any matter relating to the ICAV, a Fund or its Shares.

• The costs of the Independent Expert shall be borne by the Defaulting Shareholder.

• A Default Notice must be given to the Defaulting Shareholder and the Company.

More Definitions of Defaulting Shareholder

Defaulting Shareholder has the meaning given to it in clause 8.2.1;

Defaulting Shareholder means a Shareholder who fails to comply with the

Defaulting Shareholder has the meaning set out in Section 8.1;

Defaulting Shareholder means, at any time, a Shareholder who, at or prior to such time, has

Defaulting Shareholder has the meaning given in clause 9.2 (Events of Default and deemed transfers);

Defaulting Shareholder has the meaning ascribed to that term in Section 7.3.

Defaulting Shareholder has the meaning given to that term in clause 18.1.