Minority Securityholders definition
Examples of Minority Securityholders in a sentence
Prior to any sale by CHS of any Common Stock or Preferred Shares (a "Sale"), CHS will give written notice of the price and other material terms of the Sale (a "Sale Notice") to the Company and each holder of Minority Securities (collectively, the "Minority Securityholders").
Each of the Minority Securityholders will provide prompt written notice to Security Capital and the Company of any event that would reasonably be expected to cause a breach of any of his respective representations, warranties, covenants or agreements contained herein or would reasonably be expected to, individually or in the aggregate, prevent or delay the consummation of the transactions contemplated by this Agreement.
If at any time the Minority Securityholders do not own any Company Securities, this Agreement will terminate, without any other action by the parties or otherwise.
Except as otherwise permitted under Sections 2.2, 2.3 and 2.4 of this Agreement, and in addition to the other restrictions on transfer contained in this Agreement, the Minority Securityholders may sell or otherwise transfer Company Securities only in compliance with the provisions of this Section 2.5.
The proxies and powers granted by each Minority Securityholder pursuant to this Section 2 are coupled with an interest and are given to secure the performance of such Minority Securityholder's obligations to CHS.
CHS shall use reasonable efforts to obtain the agreement of the prospective transferee(s) to the participation of the Minority Securityholders who have elected to participate in any contemplated Sale, and CHS shall not sell any of its Common Stock or Preferred Shares if the prospective transferee(s) decline(s) to allow the participation of the Minority Securityholders who have elected to participate.
In the event that the Company proposes to undertake an issuance of New Securities, the Company shall give the Minority Securityholders written notice of its intention, describing the type of New Securities and the price and other terms and conditions upon which the Company proposes to issue such New Securities.
Such Minority Securityholders may elect (which election shall be irrevocable) to participate in the proposed Sale by delivering written notice to CHS within 15 days after delivery of the Sale Notice.
At any time, Security Capital may waive compliance with any of the agreements or covenants of any of the Minority Securityholders under this Agreement.
The confidentiality obligations pursuant to this Section 9 shall expire on the date which is 2 years from receipt by the Minority Securityholders of any such information.