Waiver of Requirements. Notwithstanding anything in this Section 3 to the contrary, any of the terms of Subsections 3.1 through Subsection 3.3 may be waived, in whole or in part and as to particular transactions or matters or as to one or more members of the Trian Group, if (a) in the case of a waiver of an obligation of a member of the Trian Group, a majority of the Independent Directors shall have approved such waiver or (b) in the case of a waiver of an obligation of the Company provided for the benefit of a member of the Trian Group, such member of the Trian Group shall have consented in writing to such waiver.
Appears in 3 contracts
Samples: Shareholder Agreement (Wendy's/Arby's Group, Inc.), Shareholder Agreement (Wendy's/Arby's Group, Inc.), Shareholder Agreement (Trian Partners Master Fund, L.P.)
Waiver of Requirements. Notwithstanding anything in this Section 3 to the contrary, any of the terms of Subsections 3.1 through Subsection 3.3 3.7 may be waived, in whole or in part and as to particular transactions or matters or as to one or more members of the Trian Group, if (a) in the case of a waiver of an obligation of a member of the Trian Group, a majority of the Independent Directors shall have approved such waiver or (b) in the case of a waiver of an obligation of the Company provided for the benefit of a member of the Trian Group, such member of the Trian Group shall have consented in writing to such waiver.
Appears in 2 contracts
Samples: Shareholder Agreement (Wendy's Co), Shareholder Agreement (Wendy's Co)
