Defaulting Shareholder means a shareholder of the Corporation who defaults in the payment of any Shareholder Debt when the same becomes due and payable.
Defaulting Shareholder has the meaning given to it in clause 7.2.1;
Examples of Defaulting Shareholder in a sentence
At any time within 20 days after the Non-Defaulting Shareholder becomes aware of the occurrence of a Default Event, the Non-Defaulting Shareholder may serve a written notice on the Company and the Defaulting Shareholder setting out the details of the Default Event and stating that it requires that the Fair Market Value of the Defaulting Shareholder’s and the Non-Defaulting Shareholder’s Shares be determined in accordance with Schedule 2 (FMV Notice).
More Definitions of Defaulting Shareholder
Defaulting Shareholder means a Shareholder in respect of whom an Event of Default has occurred and is continuing.
Defaulting Shareholder means a Shareholder who fails to comply with the
Defaulting Shareholder has the meaning set out in Section 8.1;
Defaulting Shareholder has the meaning given to that term in clause 20.1;
Defaulting Shareholder has the meaning given in clause 9.2 (Events of Default and deemed transfers);
Defaulting Shareholder shall have the meaning assigned to such term in Section 4.2.