Power of Attorney - Company Transfer and Execution
Default by Shareholder / JV Partner
This POA is suitable in case a shareholder defaults of its obligations under the shareholders / joint venture agreement. The Deed appoints the Company as its attorney for all transfer and acts under the Agreement.
How to Tailor the Document for Your Need?
01
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02
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03
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04
Review Document
The document should be signed by the authorised signatory (or directors of a company) and witnessed to complete the formality.
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Document Description
This POA is suitable in case a shareholder defaults on its obligations under the shareholders / joint venture agreement. The Deed appoints the Company as its attorney for all transfers and acts under the Agreement.
The Principal hereby irrevocably and unconditionally (and by way of security for the performance of its obligations under the Agreement) appoints the Company as its attorney to execute and do in its name or otherwise and on its behalf all transfers and other documents, acts and things which such attorney may in its absolute discretion consider necessary or desirable in connection with effecting any transfer of securities or any other action provided for by the Agreement.
How to use this document?
This document should be carefully read by the Principal and the Attorney. Both parties should sign and return a copy, and once signed, both parties should get a copy.
To avoid any future disputes, both parties may wish to have their signatures witnessed.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.
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