MVS Holders definition
Examples of MVS Holders in a sentence
Subject to Section 2.3 and the Articles, the Shareholder shall not sell, directly or indirectly, any Super Voting Shares pursuant to a take-over bid (as defined in applicable Securities Laws) under circumstances in which applicable Securities Laws would have required the same offer to be made to SVS Holders or the MVS Holders, as applicable, if the sale by the Shareholder had been a sale of the Subordinate Voting Shares rather than such Super Voting Shares, but otherwise on the same terms.
The obligations of the Shareholders pursuant to this Agreement are several, and not joint and several, and no Shareholder shall be liable to the Company, the SVS Holders, the MVS Holders, the Trustee or any other party for the fault of any other Shareholder to comply with its covenants and obligations under this Agreement.
In the event that an indirect sale of Multiple Voting Shares that is referred to in this Section 2.4 occurs and this Section 2.4 is applicable to such sale, the MVS Holders shall have no liability under this Agreement in respect of such sale, provided that the applicable MVS Holders are in compliance with all other provisions of this Agreement, including the provisions of this Section 2.4.
However, on the written request of the MVS Holders and the Company or of the successor trustee, the trustee ceasing to act shall execute and deliver an instrument transferring to such successor trustee all the rights and powers of the trustee so ceasing to act.
The obligations of the Shareholders pursuant to this Agreement are several, and not joint and several, and no Shareholder shall be liable to the Company, the SVS Holders, the MVS Holders, the Trustee or any other party for the failure of any other Shareholder to comply with its covenants and obligations under this Agreement.
Subject to the foregoing, the Trustee, in its personal or any other capacity, may buy, lend upon and deal in securities of the Company and generally may contract with and enter into financial transactions with the Company, any of its affiliates or any of the MVS Holders or any of their affiliates without being liable to account for any profit made thereby.
The MVS Holders and the Company acknowledge that federal and/or provincial legislation that addresses the protection of individuals’ personal information (collectively, “Privacy Laws”) applies to certain obligations and activities under this Agreement.
The removal of the Trustee (or any successor trustee subsequently appointed) shall become effective upon the appointment of a successor trustee in accordance with Section 6.3. Successor Trustee Any successor trustee appointed as provided under this Agreement shall execute, acknowledge and deliver to the MVS Holders and the Company and to its predecessor trustee an instrument accepting such appointment.
In furtherance of the foregoing, the MVS Holders and the Company hereby establish and create the Trust (as defined below) pursuant to the terms and conditions of this Agreement and hereby appoints the Trustee to act as trustee for the Trust.
The MVS Holders and the Company shall, prior to transferring or causing to be transferred personal information to the Trustee, obtain and retain required consents of the relevant individuals to the collection, use and disclosure of their personal information, or shall have determined that such consents either have previously been given upon which the parties can rely or are not required under the Privacy Laws.