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Minimum Shareholding Sample Clauses

Minimum Shareholding. Executive shall be required at all times to hold a number of vested shares of Common Stock having a fair market value equal to or greater than three times her Base Salary (the “Minimum Shareholding Requirement”); provided, however, that the Minimum Shareholding Requirement shall not be in effect until the first time that Executive holds Common Stock having such a fair market value (i.e., when a sufficient number of shares of the Restricted Stock Award have vested such that she owns (together with any Common Stock that she purchases) Common Stock having a fair market value equal to or greater than three times her Base Salary). Prior to exceeding the threshold, Executive may not sell or otherwise dispose of any shares of Common Stock, and any such sale or other disposition of her shares of Common Stock shall be null and void. In addition, once Executive is required to maintain the Minimum Shareholding Requirement, the portion of any sale or other disposition of her shares of Common Stock that would result in Executive falling below the Minimum Shareholding Requirement shall be null and void. Executive hereby acknowledges and agrees that she shall promptly execute any reasonable documentation required by the Company to establish that she is subject to the Shareholding Requirement. Notwithstanding anything to the contrary elsewhere, it shall not be a violation of this Section 4(b) for Executive to sell shares of Common Stock (including where the Company withholds a sufficient number of shares of Common Stock upon the vesting of any equity award) to pay any tax liability resulting from the vesting of any equity award, including but not limited to the Restricted Stock Award.
Minimum Shareholding. On April 1, 2017, the Corporation adopted minimum share ownership rules designed to align the interests of officers and shareholders. Accordingly, the Officer undertakes to hold shares with a minimum value equal to one (1) times his base salary as of the latest date of the following dates:
Minimum Shareholding. (a) Notwithstanding anything to the contrary of other provisions set forth in this Article 1, each Party together with its Affiliates shall own a minimum of 33.5% of the outstanding shares of the Company at any time (the “Minimum Shareholding”) and shall not pledge, hypothecate or otherwise use its shares as security, or grant options over its legal and beneficial interest in these 33.5% of the outstanding shares (“Encumbrance”), with the understanding that if a Party transfers its shares in the Company to an Affiliate as contemplated by Subsection 1.4-3 above, the Transferring Party shall be relieved from the Minimum Shareholding obligation and the Affiliate shall forthwith adhere to the Minimum Shareholding obligation. (b) Any action in violation of this provision shall be considered a material breach of this Agreement according to Subsection 7.3 (a). (c) In case the non-breaching Party decides not to terminate this Agreement for material breach according to Subsection 7.3(a), it may choose that each Party’s Output Share shall be adjusted by the following formula: The breaching Party shall be obligated to offer to the non-breaching Party, and the non-breaching Party shall have the right of first refusal to the offer from the breaching Party, a share of the Total Capacity amounting to 1.5[x]% of the Total Capacity of the Company if the breaching Party’s shareholding is [x]% less than 33.5% of the shares of the Company, or if the breaching Party’s shareholding free of any Encumbrance is [x]% less than 33.5% of the shares of the Company. By way of example: If the breaching Party’s shareholding is decreased to 16% of the outstanding shares of the Company, it shall offer to the non-breaching Party 26.25% (1.5[33.5-16])% of the Total Capacity. The terms Output Share and Total Capacity used in this Subsection 1.4-4 shall have the same meaning as defined in the PPCRA and the Parties shall cause the Company to comply with this Subsection 1.4-4. (d) Further to the rights of the non-breaching Party to terminate this Agreement pursuant to Section 7.3 (a), or to claim an adjustment of the Output Share pursuant to Subsection 1.4-4 (c), the breaching Party shall on written request of the non-breaching Party: - withdraw one of its appointed directors if the shareholding of the breaching Party drops below 30%; - withdraw two of its appointed directors if the shareholding of the breaching Party drops below 26%; - withdraw three of its appointed directors and its appointed...
Minimum Shareholding. You are not qualified to be or to remain a member unless you hold at least 1 Common Share issued by the Credit Union or an amount as required in the By- Laws the Credit Union.
Minimum ShareholdingThe Board may impose in respect of any Specified Area that a minimum number of a class or classes of shares must be held before the Company will deliver any irrigation Water or enter into a supply contract with a land owner in that Specified Area.
Minimum Shareholding. Executive shall be required at all times to hold a number of vested shares of Common Stock having a fair market value equal to or greater than three (3) times Executive's Annual Base Salary (the “Minimum Shareholding Requirement”); provided, however, that the Minimum Shareholding Requirement shall not be in effect until the first time that Executive holds Common Stock having such a fair market value (i.e., when a sufficient number of shares of the Common stock granted pursuant to this Agreement have vested such that he owns (together with any Common Stock that he purchases) Common Stock having a fair market value equal to or greater than the Minimum Shareholding Requirement). Prior to exceeding the threshold, Executive may not sell or otherwise dispose of any shares of Common Stock vested pursuant to this Agreement (but may dispose of shares purchased on the open market), and any such sale or other disposition of his shares of Common Stock shall be null and void. Notwithstanding anything to the contrary elsewhere, it shall not be a violation of this Section 6.2 for Executive to sell shares of Common Stock (including where the Company withholds a sufficient number of shares of Common Stock upon the vesting of any equity award) to pay any tax liability resulting from the vesting of any equity award.
Minimum Shareholding. The Parties represent and warrant that they shall ensure that they maintain their equity shareholding in VGCB such that: a) Each Party shall continue to hold at least twenty-six per cent (26%) of the equity capital of VGCB until the Date of Commercial Operations; b) The Parties shall legally and beneficially hold not less than fifty-one per cent (51%) of the paid-up equity capital of VGCB until three (3) years after the Date of Commercial Operations, and not less than twenty-six per cent (26%) of the paid-up equity capital of VGCB during the balance Concession Period; c) Sterlite shall legally and beneficially hold at any time not less than fifty per cent (50%) of the total paid-up equity capital held by Sterlite and Leighton collectively in VGCB; and d) Subject to Clause 8.2, Sterlite shall continue to maintain the shareholding required to be maintained by the Consortium in VGCB as per requirements of CA and RFP and as approved by the Authority from time to time.
Minimum Shareholding. 20.1 In accordance with the Company’s Remuneration Policy, the Executive is required to build and maintain a minimum shareholding in the Company’s shares with a value at least equivalent to 300% of the amount of the Executive’s base salary at the date of this Agreement (as set out in clause 3.1 of this Agreement) or, if different, any other minimum amount specified by the Company’s Remuneration Committee from time to time (the ‘Minimum Shareholding’). 20.2 For the purpose of determining whether the Executive has acquired shares which amount to a Minimum Shareholding, the value of the shares the Executive acquires will be taken to be the market value of those shares at the time of their acquisition. Any subsequent fluctuation in the market value of those shares will not be taken into account. 20.3 Shares in which the Executive or a Related Person retains the legal and/or beneficial interest will count toward the Executive’s Minimum Shareholding. 20.4 The Executive may be required by the Company to provide reasonable documentation to demonstrate that a person satisfies the definition of Related Person as set out in clause 22. 20.5 The Executive can build and maintain the Minimum Shareholding either through shares that she has been awarded and which have vested under the Group’s Discretionary Free Share Scheme or should purchase the Minimum Shareholding from shares available on the open market, but must do so in accordance with the Market Abuse Regulation (and such legislation that may succeed it from time to time) , and also in accordance with the Company’s share dealing code or any other share dealing code operated by the Company from time to time. 20.6 The Executive has a period of five years from the date of her appointment as an Executive to obtain the Minimum Shareholding. If the Executive fails to obtain the Minimum Shareholding within this timeframe, or fails to maintain the Minimum Shareholding once it has been achieved, the Company may, in its absolute discretion, terminate this Agreement in accordance with clause 1.2. 20.7 In the event that the Company’s Remuneration Committee specifies a Minimum Shareholding other than that set out in clause 20.1 above, the Executive shall have a further period of five years from the date the Executive is informed of the new Minimum Shareholding to build that Minimum Shareholding.
Minimum Shareholding. Executive shall be required at all times to hold a number of vested shares of Common Stock having a fair market value equal to or greater than $2,500,000.00 (the “Minimum Shareholding Requirement”); provided, however, that the Minimum Shareholding Requirement shall not be in effect until the first time that Executive holds Common Stock having such a fair market value (i.e., when a sufficient number of shares of the Common stock granted pursuant to this Agreement have vested such that he owns (together with any Common Stock that he purchases) Common Stock having a fair market value equal to or greater than $2,500,000.00). Prior to exceeding the threshold, Executive may not sell or otherwise dispose of any shares of Common Stock vested pursuant to this Agreement (but may dispose of shares purchased on the open market), and any such sale or other disposition of his shares of Common Stock shall be null and void. Notwithstanding anything to the contrary elsewhere, it shall not be a violation of this Section 6.2 for Executive to sell shares of Common Stock (including where the Company withholds a sufficient number of shares of Common Stock upon the vesting of any equity award) to pay any tax liability resulting from the vesting of any equity award.
Minimum ShareholdingClause 2 shall only operate for the benefit of an Investor and be capable of enforcement by that Investor in each case in circumstances where such Investor (and/or members of the Investor’s Group) holds more than 0.5% of the Fully Diluted Ordinary Stock Capital.