Examples of Founder Entity in a sentence
The Founder Advisory Agreement may be terminated by the Company at any time if the Founder Entity engages in any criminal conduct or in wilful misconduct which is harmful to the Company (as determined by a court of competent jurisdiction in the State of New York).
For so long as the Founder continues to beneficially own, whether directly or indirectly, any Ordinary Shares, the Founder Entity shall be entitled to nominate, appoint, remove or replace (or require the Board to nominate, appoint, remove or replace) one (1) Person to serve on the Board.
Pursuant to the terms of the Founder Advisory Agreement, the Founder Entity has the right to appoint up to six directors to the Board.
In addition, the agreement can be terminated at any time following consummation of the Acquisition (i) by the Founder Entity if the Company ceases to be traded on the London Stock Exchange, New York Stock Exchange or NASDAQ; or (ii) by the Founder Entity or the Company if there is (A) a Sale of the Company or (B) a liquidation of the Company.
The Founders have advised the Company that their intention is to elect, via the Founder Entity, to receive any amounts due in respect of either the Fixed Annual Advisory Amount or the Variable Annual Advisory Amount in Ordinary Shares and for any cash element to only be such amount as is required to meet any related taxes.