Passive shareholder definition
Passive shareholder has the meaning attributed thereto in Section 7.10; (aaa) "PERMITTED TRANSFEREE" with respect to any Shareholder means an Affiliate of that Shareholder; (bbb) "PERSON" means an individual, partnership, unincorporated association, organization, syndicate, corporation, trustee, executor, administrator or other legal or personal representative;
Passive shareholder means a member who, on subscribing for or taking a transfer of shares, enters into an agreement in writing with the company and gives a binding undertaking to the company –