Examples of Founding Shareholders in a sentence
The Founding Shareholders represent: Except with the prior written consent of the Investor, the Founding Shareholders shall devote all of their working time and energy to the operation of the Target Company, and shall use their best efforts to benefit and promote the development of the Target Company.
The compensation to be made by the Actual Controllers and/or the Founding Shareholders to the Investor in the form of share transfer under clause 7.2 hereof shall be effectuated within ninety (90) business days from the day the Investor sends a written notice of its claim for such right.
If any party or parties violate any provisions of this Agreement or other transaction documents, resulting in losses to the Investor, the party or parties causing such losses shall be responsible, and the Founding Shareholders shall bear the joint and several liability.
Following expiration of five years following the Closing Date of the Investment, the Investor has the right to transfer the shares it holds in the Target Company free from any limitations, provided that the Actual Controllers or the Founding Shareholders will have the right of first refusal to accept the transfer of such transferred shares on the same terms and conditions as those offered to prospective third-party transferee(s).
If the Target Company intends to increase its registered capital at a subscription price lower than that in the Investment (except for reserved shares for its employee stock options), the Actual Controllers and/or the Founding Shareholders shall transfer the registered capital held by them in the Target Company to the Investor as compensation, until the subscription price in the Investment equals that for the increased registered capital (“New Low Price”).