Weather II definition
Examples of Weather II in a sentence
The VimpelCom Common Shares and VimpelCom Preferred Shares to be delivered to Weather II and Weather I Shareholders in accordance with Article II hereof will at Closing be validly issued, fully paid and non-assessable, subject to the transfer and other restrictions as set forth or referred to in Article IX.
True and complete copies of the articles of association, bye-laws or equivalent organizational documents (including all amendments thereto) of each of VimpelCom and its Material Subsidiaries, as in effect on the date of the Original Agreement, have been delivered, or made available, to Weather I and Weather II.
Under the terms of the Share Sale and Exchange Agreement, Weather II and the Wind Telecom Shareholders irrevocably direct VimpelCom not to make payment to them of dividends declared during or with respect to the 2010 financial year on VimpelCom common shares.
Such waiver (i) shall not give rise to Weather II or the Weather I Shareholders receiving shares of a class, or with rights, different from the currently-outstanding VimpelCom Common Shares and (ii) is limited to the first $850,000,000 in dividends declared and paid out by VimpelCom as dividends with respect to the 2010 financial year, including interim and year-end dividends.
Weather II or such Weather I Shareholder has all requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby.
If necessary to effect the waiver set forth in this Section 2.4(a), each of Weather II and the Weather I Shareholders covenant to pay over to VimpelCom, net of Taxes imposed, any amounts actually received subject to such waiver.
The issuance of the VimpelCom Common Shares and VimpelCom Preferred Shares to Weather II and the Weather I Shareholders pursuant to Article II shall be effected as a private placement pursuant to Section 4(2) of the Securities Act.
Furthermore, VimpelCom agrees to give Weather II the right to use the name “Weather” for a period of twenty four (24) months following the Closing Date.
As a result of the Transaction, we believe we have reached a commercial resolution to, and hereby irrevocably withdraw, our assertions set forth on a letter sent to you on 1 June 2012, and on a subsequent letter dated 12 June 2012, that Weather II and Telenor East Holding II A.S. (“Telenor”) were in breach of Section 16 of VimpelCom’s bye-laws.
Without prejudice to any other rights under this Agreement, following the development of any dispute regarding the Refinancing Plan, the Spin-Off Plan or the MobiNil/ECMS Plan, each of Weather II and VimpelCom will appoint three persons to comprise a steering committee, which will meet once every two weeks to work in good faith to resolve any disputes regarding such matters.