Common use of Conditional Authority Clause in Contracts

Conditional Authority. The authority granted to the Shareholders in this Article 11 is conditioned upon the failure of a Shareholder to vote his Shares in accordance with this Agreement. The proxy and the authority hereby conferred shall be irrevocable and shall be considered to be coupled with an interest.

Appears in 7 contracts

Samples: Shareholders Agreement, Shareholders Agreement (Manning & Napier, Inc.), Shareholders Agreement (Manning & Napier, Inc.)

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