TrizecHahn Corporation Successor definition

TrizecHahn Corporation Successor means any corporation, partnership, joint venture or other entity which satisfies either (or both of) clause (i) and (ii): (i) Mr. Xxxxx Xxxx has beneficial ownership that is in excess of the greater of: (A) 40% of the total voting power of the outstanding capital stock of the entity; or (B) the percentage of the total voting power of the outstanding capital stock of the entity that is then held by any other Person; (ii) the entity succeeds to the interests of TrizecHahn Corporation Corporation; but including only an entity which, immediately after the succession: (A) is beneficially owned by all or substantially all of the individuals and entities who were the respective beneficial owners of TrizecHahn Corporation immediately prior to such succession, in substantially the same proportions as the proportions beneficially owned immediately prior to such succession; or (B) for a period of two years following the succession, a majority of the Board of the successor entity is comprised of individuals who were directors of TrizecHahn Corporation immediately before the succession.
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Related to TrizecHahn Corporation Successor

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