Deceased Shareholder definition

Deceased Shareholder means any Person who dies while a record owner of any Shares.
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Deceased Shareholder in Section 5 shall mean “Disabled Shareholder” as applied to this Section 6;
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Deceased Shareholder has the meaning assigned to it in Section 11(a).
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Examples of Deceased Shareholder in a sentence

  • Upon the death of a Shareholder, the owner of any insurance policy insuring the life of the Deceased Shareholder agrees to collect the proceeds of the policy or policies payable to it by reason of the Shareholder's death and to pay as much of the proceeds as are necessary to purchase any shares of stock it has elected to purchase to the estate of the Deceased Shareholder at the purchase price determined under section 2.4 of this Agreement.

  • In order to assure that all or a substantial part of the purchase price for the shares of a Deceased Shareholder will be available immediately in cash upon his death, the Corporation or any Shareholder may procure and purchase insurance upon the life of any Shareholder.

  • If any of the Shares of the Deceased Transferor are purchased by delivery of a promissory note as permitted by Section 8.4, the Personal Representative shall at the Closing deposit in escrow the Shares so purchased, together with stock powers duly endorsed for transfer in blank with an escrow agent chosen by mutual agreement of the Personal Representative and the Corporation and/or the Remaining Shareholders purchasing Shares of the Deceased Shareholder, as appropriate.

  • The estate of the Deceased Shareholder shall save, defend and hold the Purchasers harmless from any and all costs and expenses required for securing any court orders, court decrees, court approvals, inheritance tax clearances and estate tax clearances required to enable the estate of the Deceased Shareholder to transfer to the Purchasers full legal and equitable tax-free title to the shares of the Deceased Shareholder.

  • The Purchase Price for the Shares of a Deceased Shareholder shall be their fair market value as of the date of death as agreed upon by the Corporation and the Personal Representative, if the Corporation purchases all of the Deceased Shareholder's Shares, or by the Corporation, the Remaining Shareholders purchasing Shares of the Deceased Shareholder and the Personal Representative, if the Corporation and some or all of the Remaining Shareholders purchase the Deceased Shareholder's Shares.

  • If the CDA Credit is less than the amount of the above described deemed dividend, the purchase and sale of Common Shares shall be completed in such number of stages and the Corporation shall do such acts and things, including, without limiting the generality of the foregoing, making such elections, as may be necessary or desirable so that the deemed dividends arising to the estate of the Deceased Shareholder are treated as Capital Dividends to the extent of the CDA Credit.

  • The proceeds of these policies, if any, shall be used by the Company to purchase of the Common Stock of a Deceased Shareholder (as defined below) as provided in Section 5.3.

  • The purchase price for all or a portion of the shares of a Deceased Shareholder pursuant to Section 5.4 may be paid by the Company or a Remaining Shareholder, as the case may be and in such purchaser’s sole discretion, using the Promissory Note Option.

  • Upon the death of a Shareholder, the Corporation shall have the right during the thirty (30)-day period commencing with the date upon which the Corporation receives notice of such death to purchase all or any portion of the Shares of the Deceased Shareholder for the price and on the terms set forth in Sections 8.3, 8.4 and 8.5. As soon as possible following the death of a Shareholder, the Personal Representative shall deliver written notice to the Corporation of the Deceased Shareholder's death.

  • Any other person who may, because of the community property or other law of any jurisdiction, acquire without formal probate proceedings any right, title or interest in or to the shares of the Deceased Shareholder by reason of his death.


More Definitions of Deceased Shareholder

Deceased Shareholder has the meaning ascribed to such term in Section 7.5 hereof.
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Deceased Shareholder shall have the meaning ascribed to it in Section 15.1 hereof.
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Deceased Shareholder has the meaning assigned in subsection 8.1;
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Related to Deceased Shareholder

  • Deceased Holder Not applicable.

  • 10% Stockholder means the owner of stock (as determined under Code Section 424(d)) possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Corporation (or any Parent or Subsidiary).

  • Class B Stockholder means (i) the registered holder of a share of Class B Common Stock at the Effective Time and (ii) the initial registered holder of any shares of Class B Common Stock that are originally issued by the Corporation after the Effective Time.

  • ² Shareholder means a person who owns shares in the company and is actively involved in the management of the company or business and exercises control over the company.

  • 10% Shareholder means a person who owns, directly or indirectly, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company. Indirect ownership of stock shall be determined in accordance with Code Section 424(d).

  • Company Shareholder means a holder of Company Shares.

  • Common Stockholder means the employee of, consultant to, or director of the Company or other person to whom shares of Common Stock are issued pursuant to this Plan.

  • Initial Shareholder means any beneficial owner of the Company’s unregistered securities.

  • Shareholder means a person who owns shares in the company and is actively involved in the management of the enterprise or business and exercises control over the enterprise.

  • Significant Stockholder means Allied Irish Banks, p.l.c., a limited liability company incorporated under the laws of Ireland having its registered office at Bankcentre, Ballsbridge, Dublin 4, Ireland, and any successor thereto.

  • Major Shareholder means a shareholder who directly or indirectly holds 10% or more of the voting rights.

  • Scheme Shareholder means a person who is registered in the Register as the holder of one or more Scheme Shares as at the Record Date.

  • Company Stockholder means the holder of either a share of Company Common Stock or a share of Company Preferred Stock.

  • substantial shareholder means a person who is entitled to exercise, or to control the exercise of, 10% or more (or such other percentage as may be prescribed by the Listing Rules) of the voting power at any general meeting of the Company;

  • Record shareholder means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation.

  • Option Holder means a Person or Entity who holds an unexercised and unexpired Option or, where applicable, the Personal Representative of such person.

  • Preferred Shareholder means any holder of Preferred Shares.

  • Eligible Shareholder means an existing or new investor of the Company that is eligible at the ACD’s discretion to invest in the Class X Shares upon entering into an agreement with the ACD and fulfilling the eligibility conditions set by the ACD from time to time.

  • Significant Shareholder means a person or company that has beneficial ownership of, or control or direction over, whether direct or indirect, or a combination of beneficial ownership of, and control or direction over, whether direct or indirect, securities of an issuer carrying more than 10 per cent of the voting rights attached to all the issuer’s outstanding voting securities, excluding, for the purpose of the calculation of the percentage held, any securities held by the person or company as underwriter in the course of a distribution;

  • Existing Shareholder means any Person that is a holder of Ordinary Shares as of December 8, 2017.

  • Management Stockholder shall have the meaning set forth in the introductory paragraph.

  • Major Stockholder means any such Person.

  • Founder means, in respect of an issuer, a person who,

  • Transferring Shareholder has the meaning set out in Section 6.1; and

  • Participating Stockholder means a “Participating Stockholder” under the HBB Stockholders’ Agreement, HY Stockholders’ Agreement and NACCO Stockholders’ Agreement, to the extent the Partnership owns HBB Class B Shares, HY Class B Shares or NACCO Class B Shares. A Partner shall cease to be a Participating Stockholder under this Agreement and shall be deemed to be a Former Partner immediately prior to any event or lapse of time that causes such Partner to no longer be a “Participating Stockholder” under such applicable stockholders’ agreements.

  • Controlling Shareholder means any shareholder owning more than fifty