Examples of Defaulting Shareholder in a sentence

If all of the Defaulting Shareholder’s Shares and its Capital Commitments are purchased in the manner set out above, such Defaulting Shareholder shall cease to be a Shareholder in the Fund and shall cease to have the power to exercise any rights or powers of a Shareholder.
In addition, the costs of any interim financing obtained by the ICAV on behalf of the Fund due to the Defaulting Shareholder’s failure to timely make its Capital Contributions shall be reimbursed to the Fund by the Defaulting Shareholder.
Notwithstanding anything to the contrary provided for in this Instrument, in no event shall a Defaulting Shareholder be entitled to vote on any matter relating to the ICAV, a Fund or its Shares.
A Defaulting Shareholder shall also forfeit all rights to all the monies payable in respect of any Shares and not paid before the default.
In this case the Directors will only apply its remedies on Default in respect of a Feeder Fund which is the de facto Defaulting Shareholder in respect of that pro rata portion of the required Capital Contribution to be made by the Feeder Fund to the Fund as correspond to that (as the case may be) individual limited partner/partner/shareholder/unitholder’s required capital contribution to the feeder fund and the remedies outlined below shall be applied on a proportionate basis.

More Definitions of Defaulting Shareholder

Defaulting Shareholder means a Shareholder in respect of whom an Event of Default has occurred and is continuing.

Defaulting Shareholder means a Shareholder who fails to comply with the

Defaulting Shareholder has the meaning set out in Section 8.1;

Defaulting Shareholder has the meaning given to that term in clause 20.1;

Defaulting Shareholder means, at any time, a Shareholder who, at or prior to such time, has

Defaulting Shareholder has the meaning given in clause 9.2 (Events of Default and deemed transfers);

Defaulting Shareholder shall have the meaning assigned to such term in Section 4.2.