Acceding Shareholder definition
Examples of Acceding Shareholder in a sentence
Unless specified to the contrary herein, each Sponsor and Acceding Shareholder shall be liable only for its Proportion of any payment due under this Agreement and is not responsible for the obligations of the other Sponsor or any other Acceding Shareholder under this Agreement.
On and as of the date on which an Acceding Shareholder's accession becomes effective, such Acceding Shareholder (or an authorized representative of such Acceding Shareholder, as applicable), by reference to the facts and circumstances then existing on that date, shall execute and deliver to the other Parties the corresponding Accession Letter which shall include representations and warranties given by the Acceding Shareholder.
If a Subordinated Loan Creditor, a Sponsor, the Mosaic Shareholder or an Acceding Shareholder fails to make payment of any amount payable by it under this Agreement, such person shall pay Commission on each sum demanded (both before and after judgment) from the date of demand until the date of payment calculated on a daily basis at the rate determined in accordance with the provisions of clause 10.2 (Default Commission) of the Common Terms Agreement.
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From the Scheme Completion Time, any person receiving any New Securities shall be required to become a Party to this Agreement as an Acceding Shareholder (prior to receiving any Shares), and be subject to the terms and conditions of, and be entitled to enforce, this Agreement as a “Shareholder”.
If the Company fails to deliver the notice referred to in Clause 9.1 (Reimbursement of Shareholder Tax Amounts) on any Sponsor or any Acceding Shareholder, the Offshore Security Trustee and Agent may (but shall not be obliged to) serve such notice on that Sponsor or Acceding Shareholder on behalf of the Company in which case the provisions of Clause 9.2 (Deposit undertaking) shall apply as if notice had been served by the Company.
Each Sponsor, the Mosaic Shareholder, each Acceding Shareholder and each Subordinated Loan Creditor waives any right it may have in any jurisdiction to pay any amount under this Agreement in a currency or currency unit other than that in which it is expressed to be payable.
All payments to be made by a Sponsor, the Mosaic Shareholder, an Acceding Shareholder, the Company or a Subordinated Loan Creditor under this Agreement shall be calculated and be made without (and free and clear of any deduction for) set off or counterclaim.
The obligations of each Sponsor, the Mosaic Shareholder, each Acceding Shareholder and each Subordinated Loan Creditor contained in this Agreement shall constitute and be continuing obligations notwithstanding any settlement of account or other matter or thing whatsoever, and shall not be considered satisfied by any intermediate payment or satisfaction of all or any of the obligations of the Company under any of the Finance Documents.
The obligations expressed to be assumed by it in each Finance Document and each Key Project Document to which it is party are (subject to any Legal Reservations (in respect of each Sponsor and the Mosaic Shareholder) and subject to laws relating to insolvency, reorganisation and other laws generally affecting the rights of creditors (in respect of each Acceding Shareholder)) legal, valid, binding and enforceable obligations.