Examples of Existing Shareholders in a sentence
The Founders [and the Existing Shareholders] further agree that payment by the Investors to each Founder [and each Existing Shareholder] of £1.00 (receipt of which is hereby acknowledged), and the investment by the Investors in the Company, alone and together amount to good consideration in respect of the obligations of the Founders [and the Existing Shareholders] under this agreement.
Pursuant to the Business Corporation Act (Alberta), the Existing Shareholders shall have dissent rights in connection with the Federal Continuance.
All Intellectual Property created by the Existing Shareholders and current and former contractors and employees of the Company and which is used, or proposed to be used, by the Company in connection with its current or proposed Business (as set out in the Business Plan), is vested in and beneficially owned by the Company.
Existing Shareholders of the Company as of the Record Date shall retain their Common Shares (subject to the Share Consolidation pursuant to the Plan, the "Existing Shareholder Shares"), and subject to dilution resulting from the issuance of the New Shares pursuant to the Plan, which Existing Shareholder Shares shall equal 8% of the Pro Forma Common Shares following the Effective Time, subject to dilution for the Backstop Shares.
Each of the Existing Shareholders further acknowledge and covenant in favour of the Company and the Investors that they have no actual or contingent entitlement to the issue of further Securities (whether pursuant to any option, ratchet or similar agreement with the Company) and that the Company does not owe them any money.