Examples of Minimum Ownership Percentage in a sentence
On the contrary, each of Zodiac HoldCo Shareholder and the Current Shareholders shall continue to be subject to the undertakings given and the restrictions assumed by it pursuant to Section IV of this Agreement as regards the Transfer of its shares if the direct or aggregate stake in the Company’s share capital of the Zodiac HoldCo Shareholder Group or the Current Shareholders Group, respectively, falls below the Minimum Ownership Percentage for Transfers.
For so long as each Investor (together with its Affiliates) continues to hold a Minimum Ownership Percentage, the Board of Directors shall be comprised of two Directors, one of whom shall be designated by the TPG Investors (the “TPG Designee”) and one of whom shall be designated by the GS Investors (the “GS Designee” and, together with the TPG Designee, the “Designated Directors”).
From and after the third anniversary of the Subscription Date until the fifth anniversary thereof, for purposes of determining whether the Promoters then hold the requisite Minimum Ownership Percentage, or other minimum required ownership percentage of the Shares, in each case, for purposes of Article 197 (a) hereof only, the number of IFC Shares held by IFC on the third anniversary of the Subscription Date shall be included.
Notwithstanding anything in this Article IV to the contrary, to the extent any Investor and its Affiliates fail to hold a Minimum Ownership Percentage, such Investor shall no longer be entitled to designate any Designated Directors pursuant to Section 4.1, and the Company and the Investors may take all necessary action to remove such Investor’s Designated Directors as Directors and reduce the size of the Board of Directors accordingly.
Subject to the terms and conditions set forth herein, the Company shall have the right (the “ Call Right”), at any time that an Investor and its Affiliates collectively cease to own a Minimum Ownership Percentage, to acquire all, but not less than all, of the shares of Common Stock owned by such Investor and its Affiliates for the aggregate purchase price paid by such Investor and its Affiliates for such shares.