Class B Shareholder Committee definition
Examples of Class B Shareholder Committee in a sentence
On the 30th day following the completion of the Liquidity Redemption (such date, the “Transition Date”), DSO will relinquish his proxy under the Class B Shareholders Agreement and disband the Class B Shareholder Committee.
Any such fees or expenses arising out of any such engagement shall be paid by the LLC or reimbursed upon the written demand of the Class B Shareholder Committee.
To the fullest extent permitted by applicable law, no member of the Class B Shareholder Committee shall be liable to the Class B Shareholders or any of them to any Affiliate of any Class B Shareholder for any damages incurred by reason of any act performed or omitted to be performed by such member of the Class B Shareholder Committee under this Agreement, including the proxy granted herein.
The Class B Shareholder Committee shall have the sole authority to approve related fees and other terms of any such engagement.
Nothing in this Agreement shall limit, restrict or otherwise affect any actions taken by any member of the Class B Shareholder Committee in his capacity as an officer, partner, employee, member or member of the Board of the LLC or any of its Subsidiaries or Controlled Affiliates.
This Agreement may be terminated at any time by the mutual written agreement of the LLC and the Class B Shareholder Committee.
Any Person that shall replace an existing member of the Partner Management Committee for any reason after the establishment of the Class B Shareholder Committee pursuant to clause (ii) hereto shall also replace such existing member in his capacity as a member of the Class B Shareholder Committee.
Each Class B Shareholder hereby consents and agrees to the establishment of a Class B Shareholder Committee (the “Class B Shareholder Committee”) to be comprised initially of ▇▇▇▇▇▇ ▇▇▇, as sole member until his Withdrawal, death or Disability.
The Company shall not allow Och-Ziff Holding or Och-Ziff Corp to acquire an interest, directly or indirectly, in any entity without the prior written approval of the Class B Shareholder Committee if Class B Shareholders would be required to contribute funds in order for such Persons to maintain their respective ownership percentages in such entity.
After completion of the IPO, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by resolution adopted by a majority of the Board of Directors then in office, provided that for so long as the Class B Shareholder Committee shall have the right to designate nominees to the Board of Directors under the Class B Shareholders Agreement, the number of Directors may not be increased beyond seven without the Consent of the Class B Shareholder Committee.