Common use of Shareholding Clause in Contracts

Shareholding. (i) The Shareholder ceases to be the sole direct legal and equitable shareholder of the Charterers. (ii) The Guarantor ceases to be the sole direct legal and equitable, or indirect equitable, shareholder of the Shareholder. (iii) The Permitted Holders cease to legally, equitably and directly own, or equitably and indirectly own, at least fifty percent (50%) of the issued share capital of the Guarantor. (iv) The Permitted Holders cease to be the sole direct legal and equitable, or indirect equitable, shareholders of the Approved Manager. (p)