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This is a three-party Shareholders' Agreement drafted in favor of the Minority Shareholder to establish a Joint Venture Company. The agreement outlines the standard clauses for minority protection and governs the relations of the parties as shareholders in the Company.
The Parties have agreed to form a new company with equal proportions of the authorized share capital between them. The Company will be incorporated as a limited liability company with the agreed name, registered office, auditors, and Memorandum and Articles of Association.
The completion of the agreement will take place within ten days of the fulfillment of the Conditions Precedent. The Parties will subscribe unconditionally for their respective shares in cash, which will be issued to them after their names have been entered in the Company's register of members and share certificates have been issued.
This agreement ensures fairness for the Minority Shareholder and protects their rights and investments in the Company.
Steps to use this 3-party Shareholders' Agreement in favor of the Minority Shareholder:
1. Careful Review: All shareholders involved in the Joint Venture Company should carefully read the shareholders' agreement to understand the terms and conditions set out in the agreement.
2. Sign and Return: All three parties should sign and return a copy of the agreement, and once signed, all parties should receive a copy.
3. Witnessing Signatures: To avoid any future disputes, all parties may wish to have their signatures witnessed.
4. Record Amendments: If any of the parties wish to amend the agreement in the future, all parties should agree to do so. The original agreement and any amendments should be recorded in writing and signed by all parties.
5. Ensuring Compliance: The parties should ensure that they comply with the terms and conditions set out in the agreement, including the protection for the Minority Shareholder.
This 3-party Shareholders' Agreement is an important document for establishing a Joint Venture Company and ensuring that the rights and interests of the Minority Shareholder are protected. By following these steps, the parties can ensure a smooth and efficient process in setting up their joint venture and avoid any future disputes.