Examples of Organizational Shareholder in a sentence
The Organizational Shareholder, as the initial Shareholder, hereby continues the existence of the Company as a limited liability company pursuant to the provisions of the Act.
The Organizational Shareholder and its Affiliates shall be the sole Record Holders of Voting Shares.
Upon the admission to the Fund of any additional Shareholder pursuant to Section 2.7, the Organizational Shareholder shall become entitled to the return of all or a portion of its Capital Contribution, if any, without interest or deduction, and to withdraw from the Fund.
The initial Capital Contribution to the Fund by the Organizational Shareholder shall be represented by Shares.
Organizational Shareholder and Record Holder of Voting Shares: ENBRIDGE ENERGY COMPANY, INC.
Any manager of the Fund appointed by the Organizational Shareholder prior to the effectiveness of this Agreement shall be deemed to be a “Manager” for purposes of this Section 3.7.
The Parties accept, adopt and ratify, as the statutory articles of organization of the Fund, the Certificate filed with the Secretary of State of the Commonwealth of Puerto Rico on December 24, 2018, pursuant to the PR Act and hereby authorize the Organizational Shareholder and any other person designated by the Board of Managers to execute and deliver all documents and to take all other actions appropriate to effect, evidence and perfect such acceptance, adoption and ratification.
The independent auditors for the Company shall be the independent auditors of the Organizational Shareholder, unless the Board of Directors approves a change in independent auditors.
The Organizational Shareholder shall be the sole Record Holder of the Voting Shares.
The Corporation may, but is not required to, purchase the shares of Common Stock held by an Organizational Shareholder if (i) the Organizational Shareholder's provider agreement with an Operating Subsidiary terminates for any reason, (ii) the Organizational Shareholder breaches or fails to comply with any federal or state securities law applicable to the Organizational Shareholder, or (iii) the Organizational Shareholder is dissolved (whether voluntarily or involuntarily), liquidated or becomes insolvent.