Common use of Registered Shareholders Clause in Contracts

Registered Shareholders. The Corporation shall be entitled to treat the person in whose name any Share of stock is registered as the owner of it for the purpose of dividends, other distributions, recapitalizations, mergers, plans of share exchange, reorganizations and liquidations, for the purpose of votes, approvals and consents by Shareholders, for the purpose of notices to Shareholders, and for all other purposes whatever, and shall not be bound to recognize any equitable or other claim to or interest in the Shares by any other person, whether or not the Corporation shall have notice of it, except as expressly required by the laws of the state of Michigan.

Registered Shareholders. The Corporation corporation shall be entitled to treat the person in whose name any Share share of stock is registered as the owner thereof for purposes of it for dividends and other distributions in the purpose course of dividendsbusiness, other distributionsor in the course of recapitalization, recapitalizationsconsolidation, mergersmerger, plans reorganization, sale of share exchangeassets, reorganizations liquidation or otherwise and liquidations, for the purpose of votes, approvals and consents by Shareholdersshareholders, and for the purpose of notices to Shareholdersshareholders, and for all other purposes whatever, and shall not be bound to recognize any equitable or other claim to or interest in such shares on the Shares by part of any other person, whether or not the Corporation corporation shall have notice of itthereof, except save as expressly required by the laws of the state State of Michigan.