Kick Shareholder definition
Examples of Kick Shareholder in a sentence
However, if a Dissenting Shareholder withdraws or is deemed to have withdrawn the exercise of its Dissent Rights or otherwise failed to comply with the requirements of the BCBCA or if such Dissenting Shareholder’s rights as a Kick Shareholder are otherwise reinstated, each dissenting Kick Share held by that Dissenting Shareholder will thereupon be deemed to have been exchanged for an GTI Share at the Effective Time in accordance with Section 151(c).
Instead, on the Effective Date, each Dissenting Shareholder will cease to have any rights as a Kick Shareholder other than the right to be paid the fair value in respect of the dissenting Kick Common Shares in accordance with the provisions of Section 272 of the BCBCA.
GTI, Amalco and the Depository will be entitled to deduct and withhold from any consideration otherwise payable to any Kick Shareholder such amounts as GTI, Amalco or the Depository determines are required or permitted to be deducted and withheld with respect to such payment under the ITA, or any provision of any other applicable tax law.
To the extent that amounts are so withheld, such withheld amounts will be treated for all purposes hereof as having been paid to the Kick Shareholder in respect of which such deduction and withholding was made, provided that such withheld amounts are actually remitted to the appropriate taxing authority.
Each such Kick Shareholder will receive a pro rata share of the cash proceeds from the sale of such GTI Shares sold by the Escrow Agent.