Shareholder Authorization definition
Examples of Shareholder Authorization in a sentence
Each such Company Authorization and Shareholder Authorization is valid and in full force and effect, and there is not pending or threatened any private or governmental action, suit, proceeding, inquiry, claim, arbitration or investigation before any agency, court or tribunal, foreign or domestic, which could result in the suspension, termination, revocation, cancellation, limitation or impairment of any such Company Authorization or Shareholder Authorization.
The execution of a Shareholder Authorization Form will result in the participation in the Plan of all Common Stock and all classes and series of Preferred Stock registered in the participant's name unless the participant indicates on the Form the number and kind of shares on which the participant wishes to receive cash dividends.
Shares withdrawn from the Plan and registered in the participant's name will continue to participate in the Plan if the participant has so instructed the Administrator pursuant to a Shareholder Authorization Form and has not terminated participation pursuant to Section 12 hereof.
For safekeeping or other purposes, holders of record of Common Stock who submit Shareholder Authorization Forms may elect to transfer their shares of Common Stock to the Administrator (or the Trustee, if there is a Trustee), without charge, to the credit of their account under the Plan, pursuant to such procedures as the Company and the Administrator shall establish.
If a participant does not select an option on the Shareholder Authorization Form, all dividends for all shares of Common Stock and Preferred Stock held in the participant's name, and on all shares held under the Plan for the participant, will be reinvested.
Immediately upon approval of the shareholders ("Shareholder Authorization"), the Debt will be converted into up to 8,163,265 Common Shares, at $2.45 per Common Share; it being understood that the actual number of shares to be issued upon the conversion of the Debt will depend upon the aggregate amount of the Debt then outstanding.
A Shareholder Authorization Form must be received by the Administrator by the dividend record date in order for the dividends for which the record is taken to be reinvested under the Plan.
A participant may change any of the designations set forth in a Shareholder Authorization Form by completing, signing and returning to the Administrator a new Shareholder Authorization Form in the manner described above, which new Form shall supersede the prior Form, or may make such changes in such other manner as may be permitted by the Administrator.
In addition, an eligible stockholder must complete and sign the Company-approved authorization form ("Shareholder Authorization Form") for Common Stock and/or Preferred Stock, as the case may be, and return it to the Administrator in the manner prescribed on the Shareholder Authorization Form or in the current prospectus for the Plan.
The execution of Non-holder Enrollment Form will result in the reinvestment of all dividends held under the Plan for the participant, unless the participant submits a Shareholder Authorization Form and selects a different investment option in that Form.