What is a proxy coupled with an interest?

In general, a proxy is revocable, but it may be made irrevocable if the proxy is expressly stated to be irrevocable and it is "coupled with an interest." Typical situations that make the proxy "coupled with an interest" are: (1) where the proxy holder has purchased or agreed to purchase the shares, (2) the proxy holder

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Agreement and Irrevocable Proxy

Philadelphia Pennsylvania Agreement and Irrevocable Proxy

Name: Philadelphia Pennsylvania Agreement and Irrevocable Proxy
Brand: US Legal Forms
Rating: 4.59 (418 reviews)

Category:

Corporations - Public - Agreements

State:

Multi-State

County:

Philadelphia

Control #:

US-EG-9410

Format:

Instant download

Description

Agreement and Irrevocable Proxy between _______ (Stockholder) and Wiser Investment Company, LLC regarding purchase of stocks dated December 13, 1999. 7 pages.

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FAQ

A revocable proxy is an authorization to a person to act on behalf of another party, which may be revoked at any time by the grantor of the proxy. The revocable proxy can set forth the specific authority granted and the term of the proxy.

Irrevocable Proxy: Voting Rights This Standard Document is a form of voting proxy agreement that is intended for use in connection with a pledge of limited liability company (LLC) interests given as collateral for a mezzanine loan.

Power coupled with an interest means a power to do some act, delivered along with an interest in the subject matter of the power. A naked power exists when authority is given to a stranger to dispose of an interest, in which s/he had not before, nor has, by the instrument creating the power, any estate.

A proxy agreement is an agreement that grants authority for an individual to do legal tasks for another individual. An example of this would be when a shareholder assigns permission to a person to vote on their behalf.

Related Definitions Agency coupled with an interest means an agency in which the agent has a legal interest in the subject matter. Such an agency is not terminated automatically, as are other agencies, by the death of the principal but continue in effect until the agent can realize upon its legal interest.

The owner of the shares cannot revoke the irrevocable proxy until the expiry of an agreed-upon duration of time. The reason for making a proxy irrevocable is to absolve the agent in the agent-principal relationship of his/her actions when acting in the capacity of the principal.

In general, a proxy is revocable, but it may be made irrevocable if the proxy is expressly stated to be irrevocable and it is "coupled with an interest." Typical situations that make the proxy "coupled with an interest" are: (1) where the proxy holder has purchased or agreed to purchase the shares, (2) the proxy holder

Definition. A person designated by another to attend a shareholders' meeting and vote on their behalf. A proxy can be revoked at any time by the grantor, unless it has been coupled with an interest.

A proxy is a person who is designated by another to represent that individual at a meeting or before a public body. It also refers to the written authorization allowing one person to act on behalf of another. In corporate law, a proxy is the authority to vote stock.

More info

Officers as disclosed in the accompanying proxy statement;. 4. Time on deposit in the Water and Wastewater Funds.GE's solicitation of proxies for our 2022 Annual Meeting. After carefully reading and considering the information in this proxy statement, please fill out and sign your proxy card.

Philadelphia Pennsylvania Agreement and Irrevocable Proxy

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