Power of Control definition

Power of Control means the power actually used to direct the corporate activities and to orient the functioning of the bodies of the Company, directly or indirectly, in fact or in law. There is relative presumption of possession of the Power of Control in relation to a person, or group of persons, bound by a Stockholder’s Agreement or under common control, that owns shares that have given such person or group the absolute majority of votes of the stockholders present in the 3 (three) last prior general meetings of the Company, even if such person or group is not the owner of the shares that give it the absolute majority of the voting capital.

Power of Control means the power effectively used to direct the social activities and guide the operations of the Company’s bodies, directly or indirectly, de jure, de facto, regardless ownership interest held. There is a relative assumption of ownership of the control concerning the Person or Group of Shareholders that is the holder of shares ensuring the absolute majority of votes of shareholders attending the 3 (three) last General Meetings of the Company, even they are not holders of shares ensuring the absolute majority of the voting capital.

Power of Control means the power effectively used for directing the social activities and guiding the operation of organs of the Company, directly or indirectly. There is relative presumption of entitlement of the control in relation to the person or the group of people connected by agreement of shareholders or under common control (“Group of Control”), that is holder of shares assuring them the absolute majority of votes of the shareholders present in the last three shareholders’ meetings of the Company, even when they are not holder of shares assuring them the absolute majority of votes of the voting capital.

Examples of Power of Control in a sentence

• It also means the Power of Control when exercised by shareholders which, as a group, hold a percentage above fifty per cent (50%) of the capital stock, with each shareholder holding individually less than 50% of the capital stock, provided that these shareholders are neither subscribers to a voting agreement, nor under common Control, and do not act representing a common interest.

• Paragraph 2 The selling Controlling Shareholder(s) or group of selling Controlling Shareholders may not transfer the ownership of their shares, nor may the Company register any transfer of shares to the acquirer of Power of Control, before the latter signs the Statement of Agreement of the Controlling Shareholders referred to by the “Novo Mercado” Listing Rules.

• The Company will not register transfers of shares to the acquirers of the Power of Control, or to parties that may acquire the Power of Control, prior to the signature thereby of the Deed of Assent of the Controllers, as stipulated in the Novo Mercado Listing Regulations.

• Paragraph 3 The Company shall not register any transfer of shares to that person or those persons to hold the Power of Control, while that person or those persons do not sign the Statement of Agreement of the Controlling Shareholders referred by the “Novo Mercado” Listing Rules.

• Paragraph 4 No Shareholders’ Agreement providing for the exercise of Power of Control may be registered at the Company’s headquarters without its subscribers having signed the Statement of Agreement referred to in Paragraph 3 of this Article.

More Definitions of Power of Control

Power of Control. - means the power effectively used for leading the corporate activities and guiding the operation of the agencies of the Company, directly or indirectly, de facto or de jure, regardless of the equity interest held. There is relative presumption of ownership of the Power of Control by a person or a Group of Stockholders that owns shares in an amount that grants the absolute majority of the votes of the stockholders attending the last three (3) general meetings of the Company, even not owning the referred shares, and;

Power of Control means the power effectively used to direct the corporate activities and guide the functioning of the Company's bodies, either directly or indirectly, by fact or by law, regardless of the equity interest held. There is a relative presumption of ownership of control in relation to the person or the group of shareholders who hold shares that have ensured them an absolute majority of votes of the shareholders attending the last three Shareholders’ Meetings of the Company, even if they are not owners of the shares that ensure them the absolute majority of the voting capital.

Power of Control means (i) holding the shareholder rights that permanently ensure preponderance in the company’s decisions and the power to elect most of the managers and (ii) the effective use of power to direct the company’s activities and guide the operation of the Company’s entities.

Power of Control means the power effectively used to drive corporate activities and guide the way the Company’s units function, directly or indirectly, in fact or in law. There is relative presumption of ownership for the person or group of persons bound by a shareholder agreement or under common control (“controlling group”) holding shares securing the absolute majority of votes of the shareholders attending the Company’s last three general shareholder meetings, despite their not holding the shares securing the absolute majority of voting capital.

Power of Control means the power effectively used to conduct the Company's operations and to guide the functioning of the Company's administrative bodies, either directly or indirectly, in effect or by right, independently of the existing shareholding position. There is a prevision related to the holder of control with respect to the person or group of shareholders who are holders of the shares that ensure an absolute majority of the votes of the shareholders present at the last 3 (three) Annual Shareholders’ Meetings, even though it may not be the holder of the shares that ensures an absolute majority of the voting capital.

Power of Control means the power effectively used to conduct the Company's operations and to guide the functioning of the Company's administrative bodies, either

Power of Control or "Control" means the power effectively used to manage the corporate activities and guide the operation of the Company bodies, directly or indirectly, actually or legally. There is a relative presumption of Control ownership in relation to the person or group of persons bound by shareholders’ agreement or under common Control (Control group) that is the holder of shares that have ensured thereto the absolute majority of the votes of shareholders attending the three last General Meetings of the Company, even though not being holder of shares that ensure thereto the absolute majority of the voting capital.