Obligation of Shareholders Sample Clauses

Obligation of Shareholders. Shareholders, jointly and severally, hereby unconditionally, absolutely and irrevocably guarantees, undertakes and promises to cause Sellers, AFIC and AFIC II to fully and promptly pay, perform and observe all of Sellers’, AFIC’s and AFIC II’s obligations under, with respect to, in connection with or otherwise arising out of or relating to this Agreement (collectively, the “Sellers’ Obligations”), whether according to the present terms hereof or thereof, or pursuant to any change in the terms, covenants or conditions hereof or thereof at any time hereafter validly made or granted. In the event that any Seller or AFIC II fails in any manner whatsoever to pay, perform or observe any of Sellers’ Obligations, Shareholders, jointly and severally, agree to duly and promptly pay, perform or observe, as the case may be, the Sellers’ Obligations, or cause the same to be duly and promptly paid, performed or observed, in each case as if such Shareholder were itself Sellers, AFIC or AFIC II with respect to the Sellers’ Obligations.
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Obligation of Shareholders. Whenever this Agreement requires Target to take any action under this Agreement, such requirement shall be deemed to include an undertaking on the part of Shareholders to cause Target to take such action and for Shareholders to meet all such obligations.
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Obligation of Shareholders. The obligations of the Shareholders hereunder shall be "several" and not "joint" or "joint and several." Without limiting the generality of the foregoing, under no circumstances will any Shareholder have any liability or obligation with respect to any misrepresentation or breach of covenant of any other Shareholder.
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Obligation of Shareholders. If the holders of a majority of the Preferred Securities then outstanding approve a Sale of the Company (an “Approved Sale”), each holder of Restricted Securities shall vote for, consent to and raise no objections against such Approved Sale. If the Approved Sale is structured (i) as a merger or consolidation, each holder of Restricted Securities (as applicable) shall waive any dissenters rights, appraisal rights or similar rights in connection with such merger or consolidation or (ii) as a sale of securities, each holder of Restricted Securities (as applicable) shall agree to sell all of its shares of the Company’s capital stock on the terms and conditions approved by the holders of a majority of the Preferred Securities. Each holder of Restricted Securities shall take all necessary or desirable actions in connection with the consummation of the Approved Sale as requested by the holders of a majority of Preferred Securities then outstanding.
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Related to Obligation of Shareholders

  • Indemnification of Shareholders If any Shareholder or former Shareholder of any Series is held personally liable solely by reason of his or her being or having been a Shareholder and not because of his or her acts or omissions or for some other reason, the Shareholder or former Shareholder (or his or her heirs, executors, administrators or other legal representatives or, in the case of any entity, its general successor) shall be entitled out of the assets belonging to the applicable Series to be held harmless from and indemnified against all loss and expense arising from such liability. The Trust, on behalf of the affected Series, shall, upon request by such Shareholder or former Shareholder, assume the defense of any claim made against him or her for any act or obligation of the Series and satisfy any judgment thereon from the assets belonging to the Series.

  • Liability of Shareholders Notice is hereby given that, as provided by applicable law, the obligations of or arising out of this Agreement are not binding upon any of the shareholders of the Trust individually but are binding only upon the assets and property of the Trust and that the shareholders shall be entitled, to the fullest extent permitted by applicable law, to the same limitation on personal liability as shareholders of private corporations for profit.

  • LIMITATION OF SHAREHOLDER LIABILITY 9.01 Notice is hereby given that this Agreement is being executed by the Fund by a duly authorized officer thereof acting as such and not individually. The obligations of this Agreement are not binding upon any of the trustees, officers, shareholders or the investment advisor of the Fund individually but are binding only upon the assets and property belonging to the Fund, on its own behalf or on behalf of a Portfolio, for the benefit of which the trustees or directors have caused this Agreement to be executed.

  • Rights of Shareholders The Shares shall be personal property giving only the rights in this Declaration specifically set forth. The ownership of the Trust Property of every description and the right to conduct any business herein before described are vested exclusively in the Trustees, and the Shareholders shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for any partition or division of any property, profits, rights or interests of the Trust nor can they be called upon to share or assume any losses of the Trust or, subject to the right of the Trustees to charge certain expenses directly to Shareholders, as provided in the last sentence of Section 3.8, suffer an assessment of any kind by virtue of their ownership of Shares. The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (except as specified in this Section 6.3, in Section 11.4 or as specified by the Trustees when creating the Shares, as in preferred shares).

  • No Rights of Shareholders This Warrant does not entitle Holder to any voting rights or any other rights as a shareholder of the Company prior to the exercise of Holder’s right to purchase Shares as provided herein.

  • Acquisition of Shares The Borrower will not acquire any equity, share capital, assets or obligations of any corporation or other entity or permit its Shares to be held by any party other than the Shareholder.

  • Obligations to or by Stockholders Except as disclosed in the Parent SEC Documents, the Parent has no Liability or obligation or commitment to any stockholder of Parent or any Affiliate or “associate” (as such term is defined in Rule 405 under the Securities Act) of any stockholder of Parent, nor does any stockholder of Parent or any such Affiliate or associate have any Liability, obligation or commitment to the Parent.

  • Rights of Shareholder Except as otherwise provided in this Agreement or the Plan, Participant shall have, with respect to the shares of Restricted Stock awarded hereunder, all of the rights of a shareholder of the Company, including the right to vote the shares and the right to receive any dividends as declared by the Company’s Board of Directors.

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