Estatutos Clause Samples
The 'Estatutos' clause defines the governing statutes or bylaws that regulate the internal organization and operation of an entity, such as a corporation or association. This clause typically outlines the rules regarding management structure, decision-making processes, member rights and obligations, and procedures for meetings or amendments. By establishing a clear framework for governance, the clause ensures consistency, legal compliance, and helps prevent disputes among members or stakeholders.
Estatutos. The term “
Estatutos. AI hereby guarantees, absolutely, irrevocably and unconditionally, to CIB and the CIB Shareholders, their successors and assigns, the full and prompt performance and observance of all of the covenants, agreements and obligations of each of the Majority Owned Subsidiaries of AI under this Agreement and the Estatutos.”
Estatutos. According to the General Law of Mercantile Companies of Mexico, resolutions may be adopted outside of a shareholders meeting by unanimous vote of the Shareholders, provided that the Shareholders subsequently confirm the adoption of such resolutions in writing to the Chairman or the Secretary of the Newco Finance Board. An Ordinary Shareholders Meeting will be held at least once a year within the four (4) months following the closing of each fiscal period. Ordinary Shareholders Meetings may be those called to discuss any of the matters that are not expressly reserved by law or this Agreement to the Extraordinary Shareholders Meeting. The matters reserved for Extraordinary Shareholders Meetings are:
(a) any matter that is required to be resolved by the Extraordinary Shareholders Meeting according to Article 182 of the General Law of Mercantile Companies;
(b) the declaration or payment of dividends pursuant to the Dividend Policy; and
(c) any matter specified in SECTION 3.2(d) that is referred to the Shareholders by the Newco Finance Board. An Ordinary Shareholders Meeting shall take place by virtue of a first call of any Shareholder if the holders of fifty-five percent (55%) of the capital stock are present or duly represented thereat. If such a quorum does not exist for the holding of the meeting by virtue of the first call, the call shall be repeated, and the meeting shall be considered validly held whatever number of Shareholders are present or represented. Resolutions in Ordinary Shareholders Meetings shall be adopted by the affirmative vote of the majority of the shares entitled to vote that are present or represented thereat. An Extraordinary Shareholders Meeting shall be held by virtue of the first call if the Shareholders holding at least seventy-five percent (75%) of the capital stock are present or represented thereat. If such a quorum does not exist for such meeting, the call shall be repeated, and the meeting shall be considered validly held only with the attendance of Shareholders or their proxies representing at least fifty-five percent (55%) of the capital stock of Newco Finance. Resolutions in Extraordinary Shareholders Meetings held either in first or subsequent calls shall be adopted by the affirmative vote of Shareholders or their representatives holding at least fifty-five percent (55%) of the capital stock of Newco Finance.
1. In addition to any other requirement imposed by Mexican law, calls for an Ordinary Shareholders Meeting of Newco...
Estatutos. The ESTATUTOS of the Company and corporate resolutions pertaining to the adoption of the bylaws and the declaration of the dividends described in SCHEDULE 3.2.16 shall have been adopted and filed in accordance with Mexican law and in the form and substance as acceptable to each of the parties.