Action by Voting Trustee Clause Samples
The "Action by Voting Trustee" clause defines the authority and procedures by which a voting trustee exercises voting rights on behalf of shareholders. Typically, this clause outlines that the voting trustee has the exclusive power to vote the shares covered by a voting trust agreement, often making decisions at their discretion or as directed by the terms of the trust. For example, the trustee may vote on corporate matters such as electing directors or approving mergers. The core practical function of this clause is to centralize and streamline the voting process, ensuring consistent and unified representation of the shares held in trust, which can help prevent disputes among shareholders and facilitate efficient corporate governance.
Action by Voting Trustee. The Voting Trustee shall possess and be entitled, subject to the provisions hereof, in his discretion, to exercise all the rights and powers of absolute owners of Trust Shares, including, but without limitation, the right to receive dividends on Trust Shares, and the right to vote, consent in writing or otherwise act with respect to any corporate or shareholders' actions. Such corporate or shareholders' actions include but are not limited to any increase or reduction in the stated capital of the Shell Company, the BVI Company and the HK Company, any classification or reclassification of any of the shares as now or hereafter authorized into preferred or common stock or other classes of shares with or without par value, any amendment to the Articles of Incorporation or Bylaws, any merger or consolidation of the BVI Company, the Shell Company and(or) the HK Company with other corporations, any sale of all or any part of its assets, and the creation of any mortgage or security interest in or lien on any property of the BVI Company, the Shell Company and(or) the HK Company. It is expressly stipulated that no voting right shall pass to others by or under the Voting Trust Certificates, or by or under this Agreement, or by or under any other express or implied agreement.
Action by Voting Trustee. The Voting Trustee shall possess and be entitled, subject to the provisions hereof, in his discretion, to exercise all the rights and powers of absolute owners of all Shares, including, but without limitation, the right to receive dividends on Shares, and the right to vote, consent in writing or otherwise act with respect to any corporate or shareholders' actions. Such corporate or shareholders' actions include but are not limited to any increase or reduction in the stated capital of the Corporation, any classification or reclassification of any of the shares as now or hereafter authorized into preferred or common stock or other classes of shares with or without par value, any amendment to the Articles of Incorporation or Bylaws, any merger or consolidation of the Corporation with other corporations, any sale of all or any part of its assets, and the creation of any mortgage or security interest in or lien on any property of the Corporation. It is expressly stipulated that no voting right shall pass to others by or under the Voting Trust Certificates, or by or under this Agreement, or by or under any other express or implied agreement.