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BEE Sample Clauses

BEE. 22.1 The SHAREHOLDERS record that their present structures are such that they satisfy the prevailing BEE requirements under the MPRDA and that they will at all times during the subsistence of the AGREEMENT ensure that such position is maintained. 22.2 Notwithstanding the aforegoing, should the DME at any point in time justifiably require the SHAREHOLDERS to admit BEE investors directly into the COMPANY, then and in such event the PARTIES reciprocally warrant in favour of each other that they will use their best endeavours to do so, by restructuring the COMPANY (on a basis whereby there will be an equal dilution of their respective shareholdings) in order to facilitate the aforegoing and on a basis which will facilitate a significant holding [not less than 26% (twenty six) per centum] of the total issued share capital of the being held by a BEE entity and/or BEE Trust whereby the latter will enjoy BOARD representation and in which event the AGREEMENT shall be amended in order to provide therefor. 22.3 In the event of the admission of a BEE member to the COMPANY, all decisions of members shall require the approval of members holding in the aggregate not less than 75% (seventy-five per centum) of the total issued share capital of the COMPANY, to be effective. 22.4 The PARTIES acknowledge and agree that the implementation of the provisions of clause 23.2 supra shall not constitute or be deemed to constitute a trigger event for the exercise by any SHAREHOLDER of a pre-emptive right as more fully set forth in clause 23 infra.
Sample 1
BEE. 22.1 The Shareholders shall procure that as at the Initial Commencement Date, the Beneficial Owners of the issued share capital of and/or the assets of respectively Opco, Lebowa, Ga-Phasha, Kwanda, Boikgantsho and each other Holdco Subsidiary (including, without limitation, the Business) (collectively “Entities”) shall include the Communities (through such vehicle or vehicles as may be agreed amongst the Parties) and the Bokoni Platinum Mine ESOP Trust; provided that the provisions of this clause 22.1 shall not preclude the Communities and the Bokoni Platinum Mine ESOP Trust from disposing of any shares in the share capital of Atlatsa acquired by them in terms of the ESOP and Communities Subscription Agreements, in accordance with the terms of their founding or constitutional documents. 22.2 To the extent that Pelawan shall acquire any obligations in terms of this clause 22, Plateau shall procure that Pelawan shall comply fully and timeously therewith. 22.3 Plateau shall, and in relation to the other Atlatsa Parties shall procure that each of them will, for the duration of the Initial Period, use its reasonable commercial endeavours, at the cost of RPM, to support (and not in any way to deliberately jeopardise and/or to affect adversely), in such manner as RPM may from time to time reasonably request each such Atlatsa Party in writing, the conversion of the AAPL Old Order Rights, or any of them and/or the grant to the AAPL Group of any reconnaissance permission, prospecting right and/or mining right (as described in the MPRD Act) in respect of which any member of the AAPL Group shall have lodged an application as at the Initial Commencement Date.
Sample 1
BEE. 21.1 The VENTURERS record that their present structures are such that they satisfy the prevailing BEE requirements under the MPRDA and that they will at all times during the subsistence of the AGREEMENT ensure that such position is maintained. 21.2 Notwithstanding the aforegoing, should the DME at any point in time justifiably JV, then and in such event the PARTIES reciprocally warrant in favour of each other that they will use their best endeavours to do so, by restructuring the ELSBURG JV (on a basis whereby there will be an equal dilution of their respective PERCENTAGE INTERESTS) in order to facilitate the aforegoing and on a basis which will facilitate a significant holding [not less than 26% (twenty six) per centum] of the equity of the ELSBURG JV being held by a BEE entity and/or BEE Trust whereby the latter will enjoy EXECUTIVE COMMITTEE representation and in which event the AGREEMENT shall be amended in order to provide therefor. In catering for the aforegoing dilution, cognisance shall be taken by the VENTURERS of any significant BEE shareholding in either VENTURER per se that the admission of any new BEE participant in the ELSBURG JV will not constitute what may otherwise be a duplicate dilution in the case of either of the existing VENTURERS.
Sample 1

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Most Referenced Clauses

Most Referenced Definitions