Examples of Control Group Shareholders Agreement in a sentence
Subject to the provisions of Section 3.01 and the Control Group Shareholders Agreement, neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part, by operation of Law or otherwise by any of the Parties without the prior written consent of the other Parties, and any purported assignment without such consent shall be null and void and of no force or effect.
Subject to the provisions of the Holdco 1 Shareholders Agreement and the Control Group Shareholders Agreement, neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part, by operation of Law or otherwise by any of the Parties without the prior written consent of the other Parties, and any purported assignment without such consent shall be null and void and of no force or effect.
Subject to the provisions of the Holdco I Shareholders Agreement and the Control Group Shareholders Agreement, neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part, by operation of Law or otherwise by any of the Parties without the prior written consent of the other Parties, and any purported assignment without such consent shall be null and void and of no force or effect.
The Control Group Shareholders Agreement and the LAN-TEP Shareholders Agreement set forth the parties’ agreements on the governance and management of the LATAM Group following the Effective Time.
Pursuant to the Control Group Shareholders Agreement, the LAN controlling shareholders and TEP Chile are subject to certain restrictions on sales, transfers and pledges of the LAN common shares and (in the case of TEP Chile only) the voting shares of Holdco I beneficially owned by them.
The Control Group Shareholders Agreement provides certain exceptions to these restrictions on the transfer of LAN common shares for certain pledges of shares made by the parties and for transfers to affiliates, in each case under certain limited circumstances.
An Adverse Effect is defined in the Control Group Shareholders Agreement to mean a material adverse effect on LATAM’s and Holdco I’s ability to own or receive the full benefits of ownership of TAM and its subsidiaries or the ability of TAM and its subsidiaries to operate their airline businesses worldwide.
Pursuant to the Control Group Shareholders Agreement and the Holdco I Shareholders Agreement, LAN has the unilateral right to convert LAN’s shares of non-voting stock of Holdco I into shares of voting stock of Holdco I to the maximum extent allowed under law and to increase LAN’s representation on the TAM and Holdco I boards of directors if and when permitted in accordance with foreign ownership control laws in Brazil and other applicable laws, if the conversion would not have an Adverse Effect.
The LAN controlling shareholders and TEP Chile have stipulated in the Control Group Shareholders Agreement that the LAN controlling shareholders holding LAN common shares will vote as follows after the Effective Time.
GE Pensioen will receive this information directly from the Employee Insurance Agency.