Reduced to its essential elements, a unanimous shareholders` agreement is a contract between all shareholders that limits the actions of directors. While it does not limit the actions of the directors, it is not a unanimous shareholders` agreement, even if it is a unanimous agreement of all shareholders. Confusing? No doubt, but the thing to remember is that the unanimous shareholders` agreement is an artistic term that specifically relates to agreements entered into under section 146 of the Canada Business Corporations Act and nothing else. .
Shareholder Agreement Unanimous
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