Examples of Exchangeable Shareholders in a sentence
Notwithstanding the foregoing, the parties hereto acknowledge and agree that the Exchangeable Shareholders have relied upon the advice of his own tax advisors and, except as may be set forth in a separate agreement among the applicable parties hereto, no party has any liability to any other for the tax consequences of the Exchange, including, without limitation, the qualification of the exchange under Section 351 of the Code.
To exercise the Redemption Call Right, CSAC must notify (i) Exchangeco of CSAC’s intention to exercise such right within five Business Days of receiving the Redemption Notice from Exchangeco in accordance with Section 8.2(a) of the Exchangeable Share Provisions and (ii) the Exchangeable Shareholders in accordance with Subsection 8.2(b) of the Exchangeable Share Provisions as if references to Exchangeco therein were to CSAC.
If CSAC exercises the Redemption Call Right then, on the Redemption Date or the Later Redemption Date, as applicable, CSAC will purchase and the Exchangeable Shareholders (other than any Exchangeable Shareholder which is an Affiliate of CSAC) will sell all of the Exchangeable Shares then outstanding on the Redemption Date or the Later Redemption Date, as applicable, for a price per Exchangeable Share equal to the Redemption Call Purchase Price.
Provided that the total Redemption Call Purchase Price is delivered or paid on the Redemption Date or the Later Redemption Date, as applicable, the Exchangeable Shareholders (other than any Exchangeable Shareholder which is an Affiliate of CSAC ) shall thereafter be considered and deemed for all purposes to be the holders of CSAC Subordinate Voting Shares delivered to them.
CSAC hereby grants the Automatic Exchange Rights to the Exchangeable Shareholders.