Breaching Shareholder definition

Breaching Shareholder has the meaning set forth in Section 3.1(h).

Breaching Shareholder means any Shareholder who commits a Material Breach of this Agreement.

Breaching Shareholder shall have the meaning specified in Section 2.1(g).

Examples of Breaching Shareholder in a sentence

• The Breaching Shareholder and non-Breaching Shareholder shall cooperate in good faith to complete the sale as promptly as reasonably practicable and shall use their reasonable best efforts to obtain all necessary regulatory consents for such purchase and sale in a prompt manner.

• If the Breaching Shareholder cures the Material Breach that gave rise to the Breach Call Option or Breach Put Option prior to receiving a Breach Call Notice or Breach Put Notice from the non-Breaching Shareholder, the non-Breaching Shareholder shall no longer have the right to exercise the Breach Call Option (or the Breach Put Option) in respect of such Material Breach in question.

• The parties agree, however, that any dilution of the Company's shareholdings in PMCL resulting from the failure of the Company to make its required capital contributions or shareholder loans in full to PMCL shall require a corresponding dilution of the shareholding of the Breaching Shareholder in the Company.

• Each Breaching Shareholder shall have five (5) Business Days from the date of a request to take such Necessary Action (the “Cure Period”) to cure such failure.

• In the event of a Prohibited Transfer, the Non-Breaching Shareholders shall have the right to sell to the Breaching Shareholder the number of Equity Securities equal to the number of Equity Securities the Non-Breaching Shareholders would have been entitled to transfer to the transferee in the Prohibited Transfer had the Prohibited Transfer under Section 2 hereof been effected pursuant to and in compliance with the terms hereof.

More Definitions of Breaching Shareholder

Breaching Shareholder has the meaning given in clause 28.1;

Breaching Shareholder has the meaning assigned to such term in Section 5.2(a).

Breaching Shareholder has the meaning ascribed thereto in Schedule 6, Section 2.1.

Breaching Shareholder has the meaning set forth in Section 14.1.

Breaching Shareholder has the meaning given to that term in Section 18.1.

Breaching Shareholder shall have the meaning set forth in Section 8.04.

Breaching Shareholder has the meaning set forth in Section 6(a).