Defaulting Stockholder definition

Defaulting Stockholder has the meaning set forth in Section 3.01(e).

Defaulting Stockholder shall have the meaning set forth in Section 4.2(h).

Defaulting Stockholder shall be: (i) in the case of the occurrence of the event referenced in Section 3.1(a), the Stockholder that has transferred all of any portion of such Stockholder's Shares contrary to the provisions of Section 1 or 2; (ii) in the case of the occurrence of any of the events referenced in Sections 3.1(b), (c), or (d), the Stockholder that is subject to such court decree or order or has instituted such proceedings or filed such petitions or who is insolvent, (iii) in the case of the occurrence of the events referenced in Section 3.1(e), the applicable trust, and (iv) in the case of the occurrence of the events referenced in Section 3.1(f), the failure of the recipient of such Shares. For purposes of this Section 3, the “Non-Defaulting Founding Stockholder” shall be any Founding Stockholder who is not a Defaulting Stockholder.

Examples of Defaulting Stockholder in a sentence

• No course of dealing between the Company and any Defaulting Stockholder and no delay in exercising any right, power or remedy conferred in this Section 6 or now or hereafter existing at law or in equity or otherwise shall operate as a waiver or otherwise prejudice any such right, power or remedy.

• No course of dealing between the Company and any Defaulting Stockholder and no delay in exercising any right, power or remedy conferred in this Section 7 or now or hereafter existing at law or in equity or otherwise shall operate as a waiver or otherwise prejudice any such right, power or remedy.

• Each Defaulting Stockholder shall have five Business Days from the date of a request for such vote or written consent (the “Cure Period”) to cure such failure.

• Oak Hill may effect its rights to exercise the proxy pursuant to this Section 1.02 without notice to any Defaulting Stockholder, and the Company shall accept any such proxy delivered to the Company by Oak Hill with respect to a vote or stockholder action referred to in Section 1.01 and such proxy shall override any purported vote or action by the relevant Defaulting Stockholder.

• The percentage ownership of Common Stock owned by the Defaulting Stockholder, if any, shall be, after giving effect to the Default Adjusted Percentage, to the extent a positive number, 100% minus the Default Adjusted Percentage.

More Definitions of Defaulting Stockholder

Defaulting Stockholder shall have the meaning set forth in Section 5 of this Agreement.

Defaulting Stockholder has the meaning set forth in Section 13.1(b) hereof.

Defaulting Stockholder shall have the meaning provided in Section 4.11(c).

Defaulting Stockholder. As defined in Section 13.2. Directors - The natural persons appointed by the Stockholders to the Board of Directors pursuant to Section 2(a)(iii).

Defaulting Stockholder shall have the meaning ascribed to it in Section 3.5 hereof.

Defaulting Stockholder shall have the meaning set forth in Section 4.2(a) of the Stock Purchase Agreement, and such Stockholder shall be a Defaulting Stockholder for the purpose of such Capital Call and for all subsequent Capital Calls.

Defaulting Stockholder shall have the meaning set forth in Section 9(f).