Founder Entity definition
Examples of Founder Entity in a sentence
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.
Notwithstanding the foregoing, the restriction contained in the proviso in the preceding sentence shall not apply to a Transfer of the Purchased Shares, the Convertible Note(s) or the Converted Securities by the Founder Entity, if the entire proceeds from such Transfer is used to repay the outstanding principal amount under the Note on the Maturity Date (as defined in the Note).
Each Group Company, each Founder and each Founder Entity shall have performed and complied with all covenants, agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it on or before the Closing.
No Founder Entity is obligated to make any investment in or capital contribution in or on behalf of any Person other than the Group Companies.
A reference in Schedule 4 (Warranties) to “the knowledge of the Warrantors” includes, without limitation, the knowledge, information and belief of the Founder, the Founder Entity, each Group Company, and that of the directors and senior management personnel of each Group Company and the Founder Entity, and is deemed to include the knowledge, information and belief which such persons would have if each of them had made all reasonable enquiries.