Defaulting Shareholder definition

Defaulting Shareholder has the meaning set out in clause 16.7;

Defaulting Shareholder means a shareholder of the Corporation who defaults in the payment of any Shareholder Debt when the same becomes due and payable.

Defaulting Shareholder has the meaning set out in Section 8.1;

Examples of Defaulting Shareholder in a sentence

• If a Shareholder does give a Default Notice and proceeds to purchase the Defaulting Shareholder’s Shares or sell its Shares to the Defaulting Shareholder then that will be its (and its Affiliates) sole remedy for the relevant Event of Default but without prejudice to such Shareholder’s rights in respect of any other Event of Default (unless taken into account in the determination of Fair Market Value).

• The fees and expenses of the Independent Financial Expert shall be borne solely by the Defaulting Shareholder.

• To the fullest extent permitted by law, no course of dealing between the AIFM and any Defaulting Shareholder and no failure to exercise, or delay in exercising, any right, power or remedy conferred in this Section 5.06(f) now or hereafter existing at law or in equity or by statute or otherwise shall operate as a waiver or otherwise prejudice any such right, power or remedy.

• If the parties do not reach to the agreement with regard to the purchasing price within 210 days after the giving of the notice of default, the Defaulting Shareholder shall be deemed to have relinquished its entire ownership interest in the Company to the Non-Defaulting Shareholders pro rata in proportion to their ownership interests or as otherwise agreed between the Non-Defaulting Shareholders.

• If a Ordinary Shareholder commits an act of default under Article 23.1 (the "Defaulting Shareholder"), any of a Preference Shareholder (the "Non-Defaulting Shareholders") may, at any time after that act of default occurs, serve a notice of default on the Defaulting Shareholder specifying the nature of the default.

More Definitions of Defaulting Shareholder

Defaulting Shareholder has the meaning ascribed to it in Clause 12.1.

Defaulting Shareholder means a Shareholder who fails to comply with the

Defaulting Shareholder means a Shareholder in respect of whom an Event of Default has occurred and is continuing.

Defaulting Shareholder means, at any time, a Shareholder who, at or prior to such time, has

Defaulting Shareholder has the meaning given in clause 9.2 (Events of Default and deemed transfers);

Defaulting Shareholder has the meaning given to that term in clause 18.1.

Defaulting Shareholder shall have the meaning assigned to such term in Section 4.2.