Foreign Stock Record definition

Foreign Stock Record means a separate stock record for the registration of Alien Owned Shares maintained by the Corporation in accordance with the By-Laws of the Corporation.

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Foreign Stock Record means a record maintained by the Secretary which shall record the date of a transfer to a Foreigner, the parties to the transfer and the number and description of the shares of voting stock transferred to a Foreigner. At no time shall ownership or control of shares representing more than 25% of the Corporation's voting stock be registered on the Foreign Stock Record. If at any time the Corporation shall determine that shares of voting stock are owned or controlled by Foreigners who are not registered on the Foreign Stock Record, the registration of such shares shall, subject to the limitation in the preceding sentence, be made in chronological order in the Foreign Stock Record, based on the date of the Corporation's finding of ownership or control of such shares by a Foreigner. If at any time the Corporation shall determine that the number of shares of voting stock registered on the Foreign Stock Record exceeds 25% of the total number of shares of voting stock, sufficient shares shall be removed from the Foreign Stock Record in reverse chronological order so that the number of shares of voting stock registered on

Foreign Stock Record has the meaning set forth in Section 7.4 of these By-laws.

Examples of Foreign Stock Record in a sentence

• At no time shall ownership of shares representing more than the Maximum Percentage, as defined below, be registered in the Foreign Stock Record.

• If at any time the Corporation shall find that the combined voting power of Voting Stock then registered in the Foreign Stock Record exceeds the Maximum Percentage, there shall be removed from the Foreign Stock Record the registration of such number of shares so registered as is sufficient to reduce the combined voting power of the shares so registered to an amount not in excess of the Maximum Percentage.

• In no event shall shares in excess of the Permitted Percentage be entered on the Foreign Stock Record.

• If at any time the number of shares of Stock known to the Corporation to be Owned and/or Controlled by Non-Citizens exceeds the Permitted Percentage, the voting rights of Stock Owned and/or Controlled by Non-Citizens and not registered on the Foreign Stock Record at the time of any vote or action of the stockholders of the Corporation shall, without further action by the Corporation, be suspended.

• In the event that the sale pursuant to such definitive agreement is not consummated in accordance with such agreement (as may be amended), such Stock shall be removed from the Foreign Stock Record without further action by the Corporation.

• Failure to send such confirmatory notice shall result in the removal of such Stock from the Foreign Stock Record.

• It is the duty of each stockholder who is a Non-Citizen to register his, her or its Equity Securities on the Foreign Stock Record.

• The Foreign Stock Record shall include (i) the name and nationality of each such Non-Citizen and (ii) the date of registration of such shares in the Foreign Stock Record.

• For these purposes, the stock ledger shall include the Foreign Stock Record described in Article XIII of these Bylaws and all the provisions of Article XIII governing the maintenance and use of the Foreign Stock Record.

• At no time shall ownership of shares representing more than the Permitted Percentage be registered on the Foreign Stock Record.

More Definitions of Foreign Stock Record

Foreign Stock Record means the separate stock record for the registration of Voting Stock held by Non-U.S. Citizens, which shall be maintained by the corporation or any authorized transfer agent for the corporation.

Foreign Stock Record means a record maintained by the Corporate Secretary of the Corporation which shall record the date of a transfer to an Alien, the parties to the transfer and the number and description of the shares of stock transferred to the Alien. At no time shall ownership or control of shares representing more than the lesser of (i) the Maximum Voting Percentage of the issued and outstanding Voting Stock, or (ii) the Maximum Economic Percentage of all shares of stock of the Corporation, be registered on the Foreign Stock Record. If at any time the Corporation shall determine that shares of stock are purportedly owned or controlled by one or more Aliens who are not registered on the Foreign Stock Record, the registration of such shares shall, subject to the limitation in the preceding sentence, be made in chronological order in the Foreign Stock Record, based on the date of the Corporation’s finding of ownership or control of such shares by an Alien. If at any time the Corporation shall determine that the number of shares of Voting Stock registered on the Foreign Stock Record exceeds the Maximum Voting Percentage, or that the number of shares of stock of the Corporation registered on the Foreign Stock Record exceeds the Maximum Economic Percentage, sufficient shares shall be removed from the Foreign Stock Record in reverse chronological order so that the number of shares of Voting Stock registered on

Foreign Stock Record shall have the meaning set forth in Section 7.03.

Foreign Stock Record shall have the meaning set forth in Section 3 of Article VII of the Bylaws.

Foreign Stock Record shall have the meaning set forth in Section 9.3.