Common use of Constraints on Ownership Rights Clause in Contracts

Constraints on Ownership Rights. No person, together with his or her associates, shall hold, beneficially own or control, directly or indirectly, voting shares to which are attached more than fifteen (15%) of the Aggregate Votes. Subject to Subsections 4.1 and 4.2, the Corporation shall refuse to recognize all Ownership Rights that would otherwise be attached to any voting shares held, beneficially owned or controlled, directly or indirectly, in excess of the permitted Maximum Individual Holdings by any person, together with such person's associates.

Constraints on Ownership Rights. No person, together with his his, her or her its associates, shall hold, beneficially own or control, directly or indirectly, voting shares to which are attached more than fifteen percent (15%) of the Aggregate Votes. Subject to Subsections 4.1 subsections 4(a) and 4.24(b) of this Article SIXTH, the Corporation shall refuse to recognize all Ownership Rights that would otherwise be attached to any voting shares held, beneficially owned or controlled, directly or indirectly, in excess of the permitted Maximum Individual Holdings by any person, together with such person's associates.