Common use of Funding Default Clause in Contracts

Funding Default. (a) If a Defaulting Shareholder fails to provide the required funding in the amount and manner and within the specified period set forth in a Contribution Notice or as otherwise required pursuant to Section 7.5(b) and, in any case, the 10 Business Day cure period specified by Section 8.1 has elapsed, the Non-Defaulting Shareholder shall have the right (but not the obligation) to:

Appears in 4 contracts

Samples: Shareholders Agreement (Emerald Health Therapeutics Inc.), Shareholders Agreement (Village Farms International, Inc.), Shareholders Agreement (Village Farms International, Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!