Subsequent Holders definition

Subsequent Holders means any holder of Special Voting Preferred Stock as a result of transfer or assignment pursuant to Section 6.

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Subsequent Holders has the meaning set forth in the preamble.

Subsequent Holders consist of Persons who are not KanAm Holders and who Acquire Redemption Shares either (i) directly from one or more KanAm Holders or (ii) upon redemption of Redeemable Units directly acquired by such Person from one or more KanAm Holders; provided that in the case of clause (i), Redemption Shares purchased on the New York Stock Exchange or other similar national market shall not fall within the scope hereof unless, within ten (10) days after the purchase thereof, the Person who purchased such Redemption Shares provides written notice thereof to the Company, together with conclusive evidence satisfactory to the Company, in its reasonable discretion, demonstrating that in fact the shares in question are Redemption Shares and were purchased directly from a KanAm Holder. Subject to the REIT limitations set forth in Section 3.1, the Company exempts from the Ownership Limit each Subsequent Holder, effective as of the date of receipt by the Company of a counterpart signature page to this Agreement in the form attached hereto and an executed Certificate from such Subsequent Holder in accordance with Section 3.2, but (i) only with respect to and to the extent of such Subsequent Holder's Beneficial Ownership of all or any portion of the Redemption Shares described in the first sentence hereof, (ii) only upon and subject to such Subsequent Holder's compliance with Section 3.2 and continued compliance with the covenants referred to therein, and (iii) only if there shall not have occurred a Material KanAm Default (as defined in the Master Contribution Agreement). Each exempted Subsequent Holder shall be listed on Schedule 3 hereto, which shall be amended from time to time, provided that the failure of the Company to implement such amendments shall not in any way limit or impair the rights of a Subsequent Holder who has made all of the deliveries required of such Subsequent Holder in the first two sentences of this Section 2.2 and otherwise continues to qualify for an exemption from the Ownership Limit thereunder and the other provisions of this Agreement, including without limitation Section 5.1.4 hereof. Notwithstanding anything to the contrary in this Agreement, no Person who Acquires any Redemption Shares or any Redeemable Units in violation of Article V shall qualify as a Subsequent Holder.

Examples of Subsequent Holders in a sentence

• This determination shall be binding on the Subsequent Holders notwithstanding the distribution of the Registrable Securities from Holdings to the Subsequent Holders.

• The Proposed Transferor will repeat this process by providing further Subsequent Holders' Notices to the Electing Holders at the end of each such fifteen day period until all the Shares have been subscribed for or no Holders desire to purchase any remaining Shares.

• For purposes of any election under this Section 2 pursuant to a Subsequent Holder's Notice, Shares held by Holders other than Electing Holders will be excluded for the purpose of calculating an Electing Holder's Pro Rata Share.

• The Electing Holders will have fifteen (15) days from the date of a Subsequent Holders' Notice to agree to purchase their respective Pro Rata Share of all of the Shares not subscribed for by such other Holders.

• Any additional issuance of additional Notes shall be accomplished in a manner that shall allow the Independent accountants of the Issuer to accurately provide such information relating to original issue discount required to be provided to the Subsequent Holders of the Notes.

• In addition, and whether or not any express assignment shall have been made, the provisions of this Agreement which are for the benefit of the Holders shall also be for the benefit of and enforceable by any subsequent holder ("Subsequent Holders") of any Registrable Shares, except any Subsequent Holder with respect to Registrable Shares acquired in a public offering pursuant to a Registration Statement or an exemption from registration under Rule 144 under the Securities Act.

• The Company will not be obligated to effect more than one Underwritten Shelf Takedown requested by Majority Requesting Holders consisting only of Subsequent Holders in any six month period or within six months after any Demand Registration or Underwritten Shelf Takedown.

• This agreement shall be binding upon and enure to the benefit of the parties hereto and their respective successors and assigns and to the benefit of any Subsequent Holders and for such purposes the provisions of this Agreement in favour of the "Seller" and the "Exchangeable Holders" (including, without limitation the provisions of sections , , and hereof) shall be interpreted as if each reference therein to the "Seller" or the "Exchangeable Holders" referred to the Subsequent Holders.

• All parties hereto agree to remain obligated hereunder with the execution of this Agreement or Additional Counterparts hereof by Subsequent Holders.

• Successors and Assigns; Subsequent Holders of Notes 79 Section 10.16.

More Definitions of Subsequent Holders

Subsequent Holders means those holders of shares of Company New Senior Preferred Stock who were issued such shares around May 7, 2004.

Subsequent Holders shall have the meaning set forth in Section 2.2.

Subsequent Holders means any holder of Voting Non-Economic Preferred Stock as a result of a Transfer pursuant to Section 6.