Former Shareholders definition
Examples of Former Shareholders in a sentence
The shares of Company Common Stock so delivered to the Company from the Escrow Fund shall be disbursed from the shares of Company Common Stock of the Former Shareholders included in the Escrow Fund proportionally in accordance with their respective Pro Rata Percentages.
Pursuant to appropriate purchase agreements (the "Cross Purchase Agreements") and concurrently with the Closing, Original Shareholders have acquired all of the Shares previously owned by the Former Shareholders and at Closing will convey to Buyer all of the issued and outstanding Shares of the Company, free and clear of all Encumbrances, including any claim or interest of the Former Shareholders.
Immediately preceding the Closing, Two Hundred Fourteen (214) shares of the issued and outstanding Class A voting common stock and Two Thousand Eighteen (2,018) shares of the issued and outstanding Class B non-voting common stock were owned, beneficially and of record, by the individuals (collectively, the "Former Shareholders" and each, a "Former Shareholder") and in the amounts set forth on Part 3.30 of the Disclosure Letter.
The Company shall use its best efforts to cause the Former Shareholders, as applicable, to fully divest their entire interest in each of 柳州县医药公司 (Liucheng Medicine Company), 广西天葫医药有限责任公司(Guangxi Tianhu Medicine Limited) and武宣百草堂医药有限责任公司(Wuxuan Baicaotang Medicine Limited) on or before June 30, 2011.
Each of the Former Shareholders has duly executed and delivered to Buyer a Former Shareholder's Release, and the Former Shareholder's Release executed by such Former Shareholder constitutes the legal, valid and binding obligation of such Former Shareholder, enforceable against such Former Shareholder in accordance with its terms.