Original Stockholder definition
Examples of Original Stockholder in a sentence
The Company further agrees that no advancement or payment by the Original Stockholder Indemnitors on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Original Stockholder Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company.
The Company and Indemnitee agree that the Original Stockholder Indemnitors are express third party beneficiaries of the terms of this Section 8.
Neither this Agreement nor any of the rights or duties of the Corporation or any of the Original Stockholders set forth herein shall be assigned by the Corporation or by any Original Stockholder, in whole or in part, without having first received the written consent or vote of a majority of the then outstanding shares of the Preferred Stock, voting together as a single class, on an as-converted basis.
If after the inclusion of such Registrable Preferred Securities, it is possible to include additional shares in such registration, the Original Stockholders given rights by this Article 3 and participating in an offering pursuant to Section 3.1 together shall share pro rata in the remaining available portion of the registration in question, such sharing based upon the number of shares of Original Stockholder Shares then held by such participating Original Stockholders.
Except as otherwise provided in this Section 6, no Investor or Original Stockholder shall vote to remove any member of the Board designated in accordance with the foregoing provisions of this Section 6 unless the party or parties who designated such director (the "Designating Party") shall so vote or otherwise consent, and, if the Designating Party shall so vote or otherwise consent, then the non-designating stockholders shall likewise so vote.