Insufficient Surplus. If at the time the Company is required to make any payment for any Shares to be purchased by it under this Agreement and the Company’s surplus is legally insufficient for that purpose, the entire available surplus of the Company shall be applied to the payment, and the Company and the Shareholders shall promptly take all action which may be permitted by law to increase the capital of the Company or revalue its assets so as to increase its surplus to the extent necessary to permit the payment to be made in full; provided, however, no Shareholder shall be required to make any capital contribution due to the provisions of this Section 10.1 (unless otherwise required by the Board).
Appears in 6 contracts
Samples: Shareholders Agreement (Manning & Napier, Inc.), Shareholders Agreement (Manning & Napier, Inc.), Shareholders Agreement (Manning & Napier, Inc.)
