Examples of Retiring Shareholder in a sentence
All costs and expenses of such transfer shall be for the account of the Retiring Shareholder.
It is a condition precedent to completion of a Final Disposal that the Retiring Shareholder must cause any person appointed by it (if any) as a Director to resign from office releasing the Company from all liability in relation to that office except for liability that has accrued prior to the date of that resignation.
In consideration of Shares being [issued/transferred] to the New Shareholder [by the Retiring Shareholder], upon the execution of this deed, the New Shareholder is to be added as a Party to the Shareholders’ Deed as a Shareholder and is bound by the provisions of the Shareholders’ Deed as if it had been signatory to the Shareholders’ Deed.
If a Retiring Shareholder shall fail or refuse to transfer any Shares in accordance with its obligations under paragraph 10.3, the Directors may authorise MRASCO to execute and deliver a transfer from the Retiring Shareholder to a nominee on behalf of the Retiring Shareholder.
If any shareholder ceases to be a party for any reason (the "Retiring Shareholder"), then upon written notice to the Retiring Shareholder by any other shareholder, the Retiring Shareholder shall transfer at par to a nominee for all the shareholders (other than the Retiring Shareholder) selected by the Directors the Share held by the Retiring Shareholder.
MRASCO may accept the consideration for the transfer and hold it on trust for the Retiring Shareholder, which acceptance shall be a good discharge to the nominee and may set off such amount against the costs and expenses of the transfer.
If any Shareholder ceases to be a party for any reason (the "Retiring Shareholder"),then upon written notice to the Retiring Shareholder by any other Shareholder, the Retiring Shareholder shall transfer at par to a nominee for all the Shareholders (other than the Retiring Shareholder) selected by the Directors the Share held by the Retiring Shareholder.
The parties agree that, on and from the Effective Date, the Retiring Shareholder shall be discharged from its obligations under the Shareholders Undertaking without prejudice to any obligations accrued before that date.
The Company may accept the consideration for the transfer and hold it on trust for the Retiring Shareholder, which acceptance shall be a good discharge to the nominee and may set off such amount against the costs and expenses of the transfer.