Examples of Legacy Shareholders in a sentence
The Legacy Shareholders holding a majority (as measured at the time of selection of the Minority Representative) of the total voting interests represented by the Shares held by the Legacy Shareholders shall select the Minority Representative and have the power to remove and reselect a different Minority Representative from time to time.
Notwithstanding anything to the contrary in these Articles, if the number of Shares or other Equity Interests held by the Legacy Shareholders from time to time represents more than ten per cent.
Legacy Shareholders can receive pro rata redemptions from portfolio divestments, which entitles them to receive 95%-96% of the net divestment proceeds with 4%-5% being held in reserve to fund annual shareholder redemption requests (“Legacy Reserve”).
After this merger, neither the Legacy Shareholders nor the appellants had any ownership interest in or control over CRA-Delaware.Macey, 585 F.
In negotiations with Sterling, the Legacy Shareholders agreed to become minority shareholders in CRA-Delaware after the merger was complete and new board members were appointed.The closing date of the merger was May 3, 2004 at 10:00 am.
Legacy Shareholders also have an annual limited redemption right to request redemption of Legacy Shares at a redemption price equal to 40% of the NAV per Legacy Share as at December 31.
The Legacy Shareholders served on the CRA- Delaware board long enough for the resolutions to be passed, and therefore the Policy properly excluded coverage on lawsuits filed by them against the current board.DISCUSSION Standard of Review We review de novo a district court’s grant of summary judgment, viewing all facts in a light most favorable to the non-moving party.
Accordingly, the performance fee payable under the Management Agreement provides that the Manager will receive 20% of the net divestment proceeds in excess of Effective Date NAV of the Legacy Shares, after net divestment proceeds equal to their Effective Date NAV have been disbursed to Legacy Shareholders.
The Legacy Shareholders filed a lawsuit against appellants alleging a breach of fiduciary duty surrounding the August 2005 merger, ultimately settling the lawsuit for $3 million.
This performance fee is calculated as 20% of the net divestment proceeds in excess of Effective Date NAV of Legacy Shares, after net divestment proceeds equal to the Effective Date NAV have been disbursed to Legacy Shareholders.