OWNERSHIP OF THE OFFERED SHARES. 4.1 The Parties agree that during the period that the Offered Shares are held in the Escrow Demat Account, any dividend declared or paid on the Offered Shares shall be to the credit of the Promoter Selling Shareholder and, shall be released into the bank account of the Promoter Selling Shareholder as may be notified in writing by the Promoter Selling Shareholder. In addition, until the Closing Date, the Promoter Selling Shareholder shall continue to exercise its rights in relation to the Offered Shares, including, without limitation, the voting rights attached to the Offered Shares. During the period that the Offered Shares are held in the Escrow Demat Account, the Promoter Selling Shareholder shall be entitled to give any instructions in respect of any corporate actions (not being in the nature of a Transfer, except pursuant to the Offer in accordance with the terms of the Red Xxxxxxx Prospectus, the Prospectus or this Agreement), as legal and beneficial owner of the Offered Shares. Notwithstanding the aforesaid, the Allottees of the Final Sold Shares shall be entitled to dividends and other corporate benefits, if any, declared by the Company after the Closing Date subject to Applicable Law and such Final Sold Shares shall rank pari-passu to the Equity Shares.
OWNERSHIP OF THE OFFERED SHARES. 4.1. The Parties agree that during the period that the respective portion of the Offered Shares are held in escrow in the Escrow Demat Account in terms of this Agreement, any dividend declared or paid on the Offered Shares shall be to the credit of the respective Selling Shareholders, to the extent of their respective portion of the Offered Shares. Further, if such dividend is paid, it shall be released by the Company into their respective bank account(s) as may be notified in writing by each Selling Shareholder. In addition, until the respective portion of the Offered Shares are credited to the demat accounts of the Allottees on the Closing Date, each Selling Shareholder shall severally and not jointly, continue to be the beneficial and legal owner of their respective portion of the Offered Shares, continue to exercise severally, and not jointly, all their respective rights in relation to its respective portion of the Offered Shares, including, without limitation, the voting rights attached to such respective Offered Shares and enjoy any related benefits. During the period that the Offered Shares are held in the Escrow Demat Account, each of the Selling Shareholders shall be entitled to give any instructions (severally and not jointly) in respect of any corporate actions (not creating a lien on the Offered Shares or being in the nature of a Transfer, except pursuant to the Offer in accordance with the Red Xxxxxxx Prospectus, Prospectus and the terms of this Agreement) as legal and beneficial holders of their respective proportion of the Offered Shares, to be carried out relating to their respective Offered Shares. Notwithstanding the aforesaid, and without any liability on any of the Selling Shareholders, the relevant Allottees of the Final Sold Shares shall be entitled to dividends and other corporate benefits attached to the Final Sold Shares, if any, declared by the Company on or after the Closing Date subject to Applicable Law.
OWNERSHIP OF THE OFFERED SHARES. 4.1 The Parties agree that during the period that the Offered Shares are held in escrow in the Escrow Demat Account, any dividend declared or paid on the Offered Shares shall be to the credit of the respective Selling Shareholder, and, if paid by the Company, shall be released by the Company into a bank account notified in writing by the relevant Selling Shareholder. In addition, until the Closing Date, in relation to the Offered Shares, each of the Selling Shareholders shall continue to exercise all their respective rights, including but not limited to voting rights, dividends and other corporate benefits, if any, attached to their respective Offered Shares and enjoy any related benefits, until such Offered Shares are credited to the demat accounts of the Allottees on the Closing Date, in accordance with the Red Xxxxxxx Prospectus or the Prospectus (as applicable). Notwithstanding the above and without any liability on any of the Selling Shareholders, the Allottees of the Sold Shares shall be entitled to dividends and other corporate benefits attached to such Sold Shares, if any, declared by the Company after the Closing Date, subject to Applicable Law and such Sold Shares shall rank pari passu with the Equity Shares.
OWNERSHIP OF THE OFFERED SHARES. 4.1. The Parties agree that during the period that the Offered Shares are held in the Escrow Demat Account, any dividend declared or paid on the Offered Shares shall be to the credit of the Selling Shareholder and, shall be released into the bank account of the Selling Shareholder as may be notified in writing by the Selling Shareholder. In addition, until the Closing Date, the Selling Shareholder shall continue to exercise its rights in relation to the Offered Shares, including, without limitation, the voting rights attached to the Offered Shares. During the period that the Offered Shares are held in the Escrow Demat Account, the Selling Shareholder shall be entitled to give any instructions in respect of any corporate actions (not being in the nature of a Transfer, except pursuant to the Offer in accordance with the terms of the Red Xxxxxxx Prospectus, the Prospectus or this Agreement), as legal and beneficial owner of the Offered Shares. Notwithstanding the aforesaid, the Allottees of the Final Sold Shares shall be entitled to dividends and other corporate benefits, if any, declared by the Corporation after the Closing Date subject to Applicable Law.
OWNERSHIP OF THE OFFERED SHARES. 4.1 The Parties agree that during the period that the Offered Shares are held in escrow in the Escrow Demat Account, any dividend (including any interim dividend) declared or paid on the Offered Shares shall be credited to the respective Selling Shareholders, to the extent of their respective portion of the Offered Shares and, if paid, shall be released by the Company into a bank account, as may be notified in writing by the respective Selling Shareholders. In addition, in relation to the respective Offered Shares, each of the Selling Shareholders shall continue to exercise all their respective rights, including voting rights attached to its Offered Shares, and enjoy any related benefits, until such Offered Shares are credited to the demat accounts of the Allottees on the Closing Date. Notwithstanding the above, the Allottees of the Sold Shares shall be entitled to dividends (including any interim dividend) and other corporate benefits attached to the Offered Shares, if any, declared by the Company after the Closing Date, subject to Applicable Law.
OWNERSHIP OF THE OFFERED SHARES
