Glossary entry

English term or phrase:

voting rights in the transferee

English answer:

voting rights conferred to the transferee

Added to glossary by Wilsonn Perez Reyes
Mar 10, 2011 23:43
13 yrs ago
3 viewers *
English term

voting rights in the transferee

English Law/Patents Finance (general) Contract
The complete sentence where the phrase appears is this one:

The transferee shall transfer back to the transferor all shares prior to the transferor ceasing to have the ownership and control of all of the ***voting rights in the transferee***.

I would like to know if this sentence is grammatically correct before translating it. I would like your help in trying to get the meaning of the sentence.

Thanks.

Discussion

Martin Riordan Mar 11, 2011:
Difficult to understand... I am having difficulty in understanding the total sentence. Does it mean that the transferee shall transfer all shares back to the transferor, before the transferor loses ownership and control of voting rights detained by the transferee? But if they are detained by the transferee, how can the transferor lose them?

Another detail: if the transferee is a legal entity, such as a company, the phrase "voting rights in the transferee" could make some sense. It could be that the transferor has the right to vote in the transferee company.

Without more context, I find it hard to understand the overall meaning.
David Hollywood Mar 11, 2011:
that's the meaning IMO
Wilsonn Perez Reyes (asker) Mar 11, 2011:
What I understand: The way I understand the sentence is as follows:
"The transferee shall transfer back to the transferor all shares prior to the transferor ceasing to have the ownership and control of all of the voting rights transfered to the transferee".

Responses

+1
43 mins
Selected

voting rights conferred to the transferee

it certainly isn't "in the transferee"

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Note added at 54 mins (2011-03-11 00:38:37 GMT)
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and a better preposition would be "on"

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Note added at 57 mins (2011-03-11 00:41:27 GMT)
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The Threshold Value for each Transferee Unit is $.56. ... in general) under the LLC Agreement and shall carry all of the rights conferred on ...
www.docstoc.com › ... › Agreements › Limited Partnership Agreement - Cached
Peer comment(s):

agree Ivan Borshchevsky
1 hr
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4 KudoZ points awarded for this answer. Comment: "Many thanks."
42 mins

voting rights of the transferee

The sentence reads well, grammatically, apart from "in" being used instead of "of". As I understand it, the transferor has the transferee's voting rights until such time as the transferee transfers back shares, originally belonging to the transferor
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