Target Ownership Clause Samples
The Target Ownership clause defines who will hold legal and beneficial ownership of the target company or assets upon completion of a transaction. Typically, this clause specifies the timing and conditions under which ownership is transferred from the seller to the buyer, such as upon closing or satisfaction of certain conditions. By clearly establishing when and how ownership changes hands, the clause ensures both parties understand their rights and obligations, thereby reducing the risk of disputes and providing certainty regarding the transfer of control.
Target Ownership. After giving effect to the consummation of the Offer or the Merger on the Closing Date, the Borrower shall own a majority of the shares of the common stock of the Target on a fully diluted basis.
Target Ownership. The Borrower shall cease to directly own all of the outstanding Equity Interests of the Target.