The CliqClaq AIO Cliq Live & Cliq Live Pro Stream Programs are provided by CliqClaq AIO for users to live stream and use live-streaming features. It is open to users of the Services who are aged 16 or older and is subject to the following terms and conditions of this Virtual Content Policy. If you are between the ages of 16 and 18 (or between 16 and the age of legal majority in your jurisdiction), you may only participate in the Program with the permission of a parent or legal guardian who agrees to be bound by this Virtual Content Policy. Who is eligible to participate in the Program? Users under the age of 18 (or the age of majority in your jurisdiction), may participate in the Program with the permission of a parent or legal guardian. Select users, aged 15 or above may participate in the Program. Such users shall be selected exclusively at the discretion of the Platform on the basis of various criteria including their track record in creating quality content, number of followers etc. Only users 16 years old or older (or the age of majority in your jurisdiction) can: buy CliqCoins and Gifts; send Gifts to other Users; receive Gifts with monetary value; or earn Rubys and withdraw Rubys. CLIQCOINS Who can buy CliqCoins? Users of our Services who are aged 18 (or age of majority in your jurisdiction) or older may purchase virtual CliqCoins from us using authorized payment methods and through payment providers made available and authorized by us. Purchasing CliqCoins The price of the CliqCoins will be displayed at the point of purchase. All charges and payments for CliqCoins will be made in the currency specified at the point of purchase through the relevant payment mechanism. Currency exchange settlements, foreign transaction fees and payment channel fees, if any, are based on your agreement with the applicable payment provider. You will be responsible for the payment of any CliqCoins purchased by you. Once your purchase has been completed, your user account will be credited with CliqCoins. If you wish to make changes to your purchase, please contact us at the email address set out below. We will let you know if this change is possible. Please note that changes may impact price as well as other aspects of your purchase. If you live in the European Union, you have certain rights to withdraw from a purchase under the Consumer Rights Directive and its implementing legislation. However, if you purchase CliqCoins, you acknowledge and agree that we start supplying the CliqCoins to you as soon as the purchase is complete and therefore, your right to cancel or withdraw from the agreement to purchase is lost at this point. How you can use CliqCoins CliqCoins can be used to purchase Virtual Gifts, Creator+ subscription gifts, stickers and gifs. CliqCoins cannot be exchanged for cash, or legal tender, or currency of any state, region, or any political entity, or any other form of credit. CliqCoins can only be used on our Platform and as part of our Services, and cannot be combined or used in conjunction with other promotions, coupons, discounts or special offers, except those designated by us. No CliqCoins may be assigned or transferred to any other user of the Services or third party except as expressly permitted by us in writing. The sale, barter, assignment or other disposal of any CliqCoins, other than by us, is expressly prohibited. Accrued CliqCoins do not constitute property and are not transferable: (a) upon death; (b) as part of a domestic relations matter; or (c) otherwise by operation of law. Any CliqCoins assigned, sold, or otherwise transferred without the express written consent of us are void. Any user of the Services who violates this restriction may have his or her account terminated by us, forfeit CliqCoins from his or her account, and/or be subject to liability for damages and litigation and transaction costs. All CliqCoins of a user will expire automatically upon termination of the user’s account for any reason. You agree that we have the absolute right to manage, regulate, control, modify and/or eliminate such CliqCoins, where we have a valid reason to do so, in any general or specific case, and that we will have no liability to you based on its exercise of such right. If we decided to eliminate CliqCoins from our services completely, we will do so by providing reasonable notice to you. Contact us If you have any problems with the purchase of CliqCoins, contact us at: support@siplamedia.com GIFTS, STICKERS & GIFS Who can buy Gifts, Stickers and Gifs? User of our Services who is aged 18 (or age of majority in your jurisdiction) or older may purchase virtual gifts, stickers and gifs by exchanging CliqCoins for gifts, stickers and gifs. Purchasing Gifts, Stickers & Gifs Gifts, stickers and gifs constitute a limited license to certain features of digital products and services. The exchange rate between each CliqCoins and Gifts, Stickers and Gifs will be displayed on our Platform at the point of exchange. Published prices include taxes unless it is otherwise under applicable laws in your jurisdiction. If any Gifts, Stickers & Gifs are subject to sales tax in your jurisdiction and you have not paid the applicable sales tax to us, then you will be responsible for the payment of such sales tax and any related penalties or interest to the relevant tax authority. You agree that we have the absolute right to manage, regulate, control, modify and/or eliminate such exchange rate as we see fit in our sole discretion, in any general or specific case, and that we will have no liability to you based on our exercise of such right. If you wish to make changes to your purchase, please contact us at the email address set out below. We will let you know if this change is possible. Please note that changes may impact price as well as other aspects of the purchase. Except as otherwise set out in this Policy, all sales of gifts, stickers and gifs are final, and we do not offer refunds for any purchased gifts, stickers and gifs. When you have exchanged your CliqCoins for gifts, stickers or gifs, such CliqCoins will be deducted from your user account and credited with gifts, stickers and gifs. Gifts, stickers and gifs cannot be converted into or exchanged for CliqCoins or cash, or be refunded or reimbursed by us for any reason. Gifts, stickers and gifs exchanged or received by any user do not constitute property and are not transferable: (a) upon death; (b) as part of a domestic relations matter; or (c) otherwise by operation of law. We may replace previously exchanged copies of gifts, stickers and gifs, if we determine in our sole discretion that the gifts, stickers and gifs exchanged or received by a user are corrupted or otherwise damaged. We will not charge additional fees for reissuing a corrupted or otherwise damaged gifts, stickers or gifs. If you receive a corrupted or otherwise damaged gift, sticker or gif, contact us at: Support We reserve the right to terminate or take other appropriate action against the account of any User that is deemed to be abusing the Program or this Virtual Content Policy. How you can use Gift, Stickers & Gifs In relation to a live stream product, you may use gifts, stickers or gifs to rate or show your appreciation for an item of User Content that is uploaded or streamed by another user (“Content Provider”). When this functionality is available on the Services, you can contribute Gifts, Stickers or Gifs to User Content by clicking the “Give Gift, Sticker or Gif” button below the relevant User Content. When you have contributed a Gift, Sticker or Gif to an item of User Content, this Gift, Sticker or Gif will be removed from your account, and converted into Rubys (as defined and further explained below) in the Content Provider’s account. Please note that when you give a Gift, Sticker or Gif to another user you do so publicly so other users of the Services (including the recipient of the Gift, Sticker or Gif) can see your name, user ID and the details of the Gift, Sticker or Gif that you gave. Contact us If you have any problems with Gifts, Stickers or Gifs, contact us at: Support RUBYS Who can earn Rubys? In a live stream product, a Content Provider who is aged 18 (or age of majority in your jurisdiction) or older will be entitled to earn virtual credits (“Rubys”). How do you earn Rubys? Rubys are a measurement of the popularity of the relevant User Content. Rubys are based on the Gifts, Stickers or Gifs a Content Provider receives, at a rate of conversion to be determined by us from time to time in its absolute and sole discretion. For purposes of clarity, users cannot purchase Rubys. No Rubys may be assigned or transferred to any other user of the Services or third party except as expressly permitted by us in writing. Rubys cannot be exchanged for CliqCoins, Gifts, Stickers or Gifs. The sale, barter, assignment, exchange, transfer or other disposal of any Rubys, other than by us, is expressly prohibited Accrued Rubys do not constitute property and are not transferable: (a) upon death; (b) as part of a domestic relations matter; or (c) otherwise by operation of law. Any Rubys assigned, sold, or otherwise transferred without the express written consent of us are void. Any user of the Services who violates this restriction may have his or her account terminated by us, forfeit Rubys from his or her account, and/or be subject to liability for damages and litigation and transaction costs. You agree that we have the absolute right to manage, regulate, control, modify and/or eliminate such Rubys as it sees fit in its sole discretion, in any general or specific case, and that we will have no liability to you based on its exercise of such right. Withdrawing Rubys At any point, a Content Provider can see how many Rubys he/she has accrued on a real-time basis by checking their user account A Content Provider can choose, by selecting the relevant options in their user account, to withdraw Rubys in exchange for monetary compensation (to be denominated in US dollars). The applicable monetary compensation will be calculated by us based on various factors including the number of Rubys a user has accrued. The withdrawal of Rubys will be subject to the following terms and any additional information provided in the withdrawal instructions that are provided to you at the time of such withdrawal, including the applicable daily limits on withdrawal amounts: the rate of withdrawal will be displayed at the point of withdrawal. You agree that we have the absolute right to manage, regulate, control, modify and/or eliminate such withdrawal feature as we see fit in our sole discretion, in any general or specific case, and that we will have no liability to you based on our exercise of such right; the applicable cash payment will be made directly into your nominated PayPal account or other third-party payment channel account (if applicable). Your first and last name needs to be an exact match to your Skrill or PayPal account information and your PayPal account needs to be verified. It is your responsibility to ensure that you provide your PayPal (or other payment channel) account information correctly. You are responsible for any losses caused by incorrect PayPal (or other payment channel) account information provided by you. Payment will not be sent to a PayPal account with an email address, a first and last name different from what appears on your account, and an account that has not been verified with PayPal; we may, at our sole discretion, request you to provide information to verify your identity (including your first and last name and your state ID number). We reserve the right to verify your identity, age (by requesting a photocopy of your state ID card, or other proof as we may require) and eligibility qualifications to our satisfaction prior to making any payment. Although we aim to fulfil all withdrawal requests in a timely manner, we do not guarantee fulfilment within a specific period of time (including any estimated timings set out at the time of withdrawal) and we will not be liable to you or any third party for any failure to fulfil a withdrawal request within such time. If you wish to convert the amount into a currency other than USD, this option may be available within your PayPal (or other payment channel if applicable) account but this is at the discretion of PayPal (or other payment channel if applicable) and the terms and conditions of PayPal (or other payment channel if applicable), including any applicable fees, will apply to such currency conversion. If you are subject to any taxes imposed by any jurisdiction on these payments, you will be responsible for the payment of such taxes (including any related penalties or interest) to the relevant tax authority. We reserve the right to deduct any applicable taxes prior to making such payment if we determine that we are required to do so by applicable law. We also reserve the right to request certifications from you in relation to taxes and to report to tax authorities amounts paid and/or withheld from payments to you. We reserve the right to deduct Rubys from your account if you are in breach of these Terms We may cancel the operation of the Ruby incentive at any time. If we cancel the Ruby incentive, you shall have no right or entitlement to any financial compensation in respect of any Ruby accrued prior to the date of cancellation of the incentive that has not been converted into cash using the mechanism set out in these Terms. You agree that when a user is entitled to a refund for the Gifts, Stickers or Gifs he or she purchased, the payment withdrawn by you in relation to such Gifts, Stickers or Gifs shall be forfeited. You are responsible for refund such payment within 5 business days upon receiving our notice to you. Contact Us If you have any problems with Rubys, contact us at: support@siplamedia.com You may cancel your account at any time, and we may terminate your account in accordance with the Terms. All the CliqCoins, Gifts, Stickers, Gifs or Rubys in your account will be cancelled immediately upon the cancellation or termination of your account. There will be no refunds for any unused or unredeemed CliqCoins, Gifts, Stickers, Gifs or Rubys so we recommend you use them before terminating your account.
On CliqClaq AIO, accessible from cliqclaq.app , cliqclaqa.io
or CliqClaq AIO App on IOS/ANDROID/BROWSER, one of our main priorities is the
privacy of our visitors. This Privacy Policy document contains types of
information that is collected and recorded by CliqClaq and how we use it. If
you have additional questions or require more information about our Privacy
Policy, do not hesitate to contact us. This Privacy Policy applies only to our
online activities/App and is valid for visitors to our website/app with regards
to the information that they shared and/or collect in CliqClaq AIO. This policy
is not applicable to any information collected offline or via channels other
than this app/website.
Consent :
By using our website/app, you hereby consent to our Privacy
Policy and agree to its terms.
Information we collect :
The personal information you are asked to provide, and why you are asked to provide it, will be made clear to you at the
point we ask you to provide your personal information. If you contact us
directly, we may receive additional information about you such as your name,
email address, phone number, the contents of the message and/or attachments you
may send us, and any other information you may choose to provide. When you
register for an Account, we may ask for your contact information, including
items such as name, company name, address, email address, and telephone number.
Apps using Camera APIs, Photo APIs, or other software for
depth of facial mapping information, TrueDepth API, HomeKit, Keyboard
extensions, Apple Pay, Stickers and iMessage extensions
We do not share data used by Camera APIs, Photo APIs, or
other software for depth of facial mapping information, TrueDepth API, HomeKit,
Keyboard extensions, Apple Pay, Stickers and iMessage extensions.
Extra information regarding CliqClaq AIO's use of Apple's
Truedepth API :
CliqClaq AIO uses the device's TrueDepth camera system to
track the movement of your eyes and mouth. This allows for a unique user
experience — face masks/game you can play with your face. In order for this
functionality to be possible, the app requires access to your device's camera.
This access can be toggled on or off at any time in your device's settings.
The camera images and resulting depth data are only used for
gameplay, facemask, security and authentication purposes.
How we use your information:
We use the information we collect in various ways, including
to:
Log Files :
CliqClaq AIO follows a standard procedure of using log
files. These files log visitors when they use our websites/app. All hosting
companies do this and a part of hosting services' analytics. The information
collected by log files include internet protocol (IP) addresses, browser type,
Internet Service Provider (ISP), date and time stamp, referring/exit pages, and
possibly the number of clicks. These are not linked to any information that is
personally identifiable. The purpose of the information is for analyzing trends,
administering the site/app, tracking users' movement on the website/app, and
gathering demographic information.
Google DoubleClick DART Cookie :
Google is one of a third-party vendor on our site. It also
uses cookies, known as DART cookies, to serve ads to our site visitors based
upon their visit to www.website.com and other sites on the internet. However,
visitors may choose to decline the use of DART cookies by visiting the Google
ad and content network Privacy Policy at the following URL –
https://policies.google.com/technologies/ads
Our Advertising Partners :
Some of advertisers on our site may use cookies and web
beacons. Our advertising partners are listed below. Each of our advertising
partners has their own Privacy Policy for their policies on user data. For
easier access, we hyperlinked to their Privacy Policies below.
Google : https://policies.google.com/technologies/ads
Advertising Partners Privacy Policies :
You may consult this list to find the Privacy Policy for
each of the advertising partners of CliqClaq AIO.
Third-party ad servers or ad networks uses technologies like
cookies, JavaScript, or Web Beacons that are used in their respective
advertisements and links that appear on CliqClaq AIO, which are sent directly
to users' browser. They automatically receive your IP address when this occurs.
These technologies are used to measure the effectiveness of their advertising
campaigns and/or to personalize the advertising content that you see on
websites that you visit.
Note that CliqClaq AIO has no access to or control over
these cookies that are used by third-party advertisers.
Third Party Privacy Policies :
CliqClaq AIO 's Privacy Policy does not apply to other
advertisers or websites. Thus, we are advising you to consult the respective
Privacy Policies of these third-party ad servers for more detailed information.
It may include their practices and instructions about how to opt-out of certain
options.
You can choose to disable cookies through your individual
browser options. To know more detailed information about cookie management with
specific web browsers, it can be found at the browsers' respective websites.
CCPA Privacy Rights (Do Not Sell My Personal Information)
:
Under the CCPA, among other rights, California consumers
have the right to:
GDPR Data Protection Rights :
We would like to make sure you are fully aware of all of
your data protection rights. Every user is entitled to the following:
Children's Information :
Another part of our priority is adding protection for
children while using the internet. We encourage parents and guardians to
observe, participate in, and/or monitor and guide their online activity.
CliqClaq AIO does not knowingly collect any Personal Identifiable Information
from children under the age of 13, without express guardian permission. If you
think that your child provided this kind of information without permission on
our website/app, we strongly encourage you to contact us immediately and we
will do our best efforts to promptly remove such information from our records.
Each SIPLA MEDIA CORP transaction of Stock is open worldwide to those who are at least eighteen (18) years old at the time of purchase. Each transaction is governed by the Delaware General Corporate code Title 8 and is subject to U.S. federal and local laws.
§ 201. Transfer of stock, stock certificates and uncertificated stock.
Except as otherwise provided in this chapter, the transfer of stock and the certificates of stock which represent the stock or uncertificated stock shall be governed by Article 8 of subtitle I of Title 6. To the extent that any provision of this chapter is inconsistent with any provision of subtitle I of Title 6, this chapter shall be controlling.
8 Del. C. 1953, § 201; 56 Del. Laws, c. 50; 64 Del. Laws, c. 112, § 18;
§ 202. Restrictions on transfer and ownership of securities.
(a) A written restriction or restrictions on the transfer or registration of transfer of a security of a corporation, or on the amount of the corporation’s securities that may be owned by any person or group of persons, if permitted by this section and noted conspicuously on the certificate or certificates representing the security or securities so restricted or, in the case of uncertificated shares, contained in the notice or notices given pursuant to § 151(f) of this title, may be enforced against the holder of the restricted security or securities or any successor or transferee of the holder including an executor, administrator, trustee, guardian or other fiduciary entrusted with like responsibility for the person or estate of the holder. Unless noted conspicuously on the certificate or certificates representing the security or securities so restricted or, in the case of uncertificated shares, contained in the notice or notices given pursuant to § 151(f) of this title, a restriction, even though permitted by this section, is ineffective except against a person with actual knowledge of the restriction.
(b) A restriction on the transfer or registration of transfer of securities of a corporation, or on the amount of a corporation’s securities that may be owned by any person or group of persons, may be imposed by the certificate of incorporation or by the bylaws or by an agreement among any number of security holders or among such holders and the corporation. No restrictions so imposed shall be binding with respect to securities issued prior to the adoption of the restriction unless the holders of the securities are parties to an agreement or voted in favor of the restriction.
(c) A restriction on the transfer or registration of transfer of securities of a corporation or on the amount of such securities that may be owned by any person or group of persons is permitted by this section if it:
(1) Obligates the holder of the restricted securities to offer to the corporation or to any other holders of securities of the corporation or to any other person or to any combination of the foregoing, a prior opportunity, to be exercised within a reasonable time, to acquire the restricted securities; or
(2) Obligates the corporation or any holder of securities of the corporation or any other person or any combination of the foregoing, to purchase the securities which are the subject of an agreement respecting the purchase and sale of the restricted securities; or
(3) Requires the corporation or the holders of any class or series of securities of the corporation to consent to any proposed transfer of the restricted securities or to approve the proposed transferee of the restricted securities, or to approve the amount of securities of the corporation that may be owned by any person or group of persons; or
(4) Obligates the holder of the restricted securities to sell or transfer an amount of restricted securities to the corporation or to any other holders of securities of the corporation or to any other person or to any combination of the foregoing, or causes or results in the automatic sale or transfer of an amount of restricted securities to the corporation or to any other holders of securities of the corporation or to any other person or to any combination of the foregoing; or
(5) Prohibits or restricts the transfer of the restricted securities to, or the ownership of restricted securities by, designated persons or classes of persons or groups of persons, and such designation is not manifestly unreasonable.
(d) Any restriction on the transfer or the registration of transfer of the securities of a corporation, or on the amount of securities of a corporation that may be owned by a person or group of persons, for any of the following purposes shall be conclusively presumed to be for a reasonable purpose:
(1) Maintaining any local, state, federal or foreign tax advantage to the corporation or its stockholders, including without limitation:
a. Maintaining the corporation’s status as an electing small business corporation under subchapter S of the United States Internal Revenue Code [26 U.S.C. § 1371 et seq.], or
b. Maintaining or preserving any tax attribute (including without limitation net operating losses), or
c. Qualifying or maintaining the qualification of the corporation as a real estate investment trust pursuant to the United States Internal Revenue Code or regulations adopted pursuant to the United States Internal Revenue Code, or
(2) Maintaining any statutory or regulatory advantage or complying with any statutory or regulatory requirements under applicable local, state, federal or foreign law.
(e) Any other lawful restriction on transfer or registration of transfer of securities, or on the amount of securities that may be owned by any person or group of persons, is permitted by this section.
8 Del. C. 1953, § 202; 56 Del. Laws, c. 50; 56 Del. Laws, c. 186, § 11; 64 Del. Laws, c. 112, §§ 19, 20; 72 Del. Laws, c. 123, § 4; 81 Del. Laws, c. 86, § 2;
§ 203. Business combinations with interested stockholders.
(a) Notwithstanding any other provisions of this chapter, a corporation shall not engage in any business combination with any interested stockholder for a period of 3 years following the time that such stockholder became an interested stockholder, unless:
(1) Prior to such time the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;
(2) Upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned (i) by persons who are directors and also officers and (ii) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or
(3) At or subsequent to such time the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 662/3% of the outstanding voting stock which is not owned by the interested stockholder.
(b) The restrictions contained in this section shall not apply if:
(1) The corporation’s original certificate of incorporation contains a provision expressly electing not to be governed by this section;
(2) The corporation, by action of its board of directors, adopts an amendment to its bylaws within 90 days of February 2, 1988, expressly electing not to be governed by this section, which amendment shall not be further amended by the board of directors;
(3) The corporation, by action of its stockholders, adopts an amendment to its certificate of incorporation or bylaws expressly electing not to be governed by this section; provided that, in addition to any other vote required by law, such amendment to the certificate of incorporation or bylaws must be adopted by the affirmative vote of a majority of the outstanding stock entitled to vote thereon. In the case of a corporation that both (i) has never had a class of voting stock that falls within any of the 2 categories set out in paragraph (b)(4) of this section, and (ii) has not elected by a provision in its original certificate of incorporation or any amendment thereto to be governed by this section, such amendment shall become effective upon (i) in the case of an amendment to the certificate of incorporation, the date and time at which the certificate filed in accordance with § 103 of this title becomes effective thereunder or (ii) in the case of an amendment to the bylaws, the date of the adoption of such amendment. In all other cases, an amendment adopted pursuant to this paragraph shall become effective (i) in the case of an amendment to the certificate of incorporation, 12 months after the date and time at which the certificate filed in accordance with § 103 of this title becomes effective thereunder or (ii) in the case of an amendment to the bylaws, 12 months after the date of the adoption of such amendment, and, in either case, the election not to be governed by this section shall not apply to any business combination between such corporation and any person who became an interested stockholder of such corporation on or before (A) in the case of an amendment to the certificate of incorporation, the date and time at which the certificate filed in accordance with § 103 of this title becomes effective thereunder; or (B) in the case of an amendment to the bylaws, the date of the adoption of such amendment. A bylaw amendment adopted pursuant to this paragraph shall not be further amended by the board of directors;
(4) The corporation does not have a class of voting stock that is: (i) Listed on a national securities exchange; or (ii) held of record by more than 2,000 stockholders, unless any of the foregoing results from action taken, directly or indirectly, by an interested stockholder or from a transaction in which a person becomes an interested stockholder;
(5) A stockholder becomes an interested stockholder inadvertently and (i) as soon as practicable divests itself of ownership of sufficient shares so that the stockholder ceases to be an interested stockholder; and (ii) would not, at any time within the 3-year period immediately prior to a business combination between the corporation and such stockholder, have been an interested stockholder but for the inadvertent acquisition of ownership;
(6) The business combination is proposed prior to the consummation or abandonment of and subsequent to the earlier of the public announcement or the notice required hereunder of a proposed transaction which (i) constitutes 1 of the transactions described in the second sentence of this paragraph; (ii) is with or by a person who either was not an interested stockholder during the previous 3 years or who became an interested stockholder with the approval of the corporation’s board of directors or during the period described in paragraph (b)(7) of this section; and (iii) is approved or not opposed by a majority of the members of the board of directors then in office (but not less than 1) who were directors prior to any person becoming an interested stockholder during the previous 3 years or were recommended for election or elected to succeed such directors by a majority of such directors. The proposed transactions referred to in the preceding sentence are limited to (x) a merger or consolidation of the corporation (except for a merger in respect of which, pursuant to § 251(f) of this title, no vote of the stockholders of the corporation is required); (y) a sale, lease, exchange, mortgage, pledge, transfer or other disposition (in 1 transaction or a series of transactions), whether as part of a dissolution or otherwise, of assets of the corporation or of any direct or indirect majority-owned subsidiary of the corporation (other than to any direct or indirect wholly-owned subsidiary or to the corporation) having an aggregate market value equal to 50% or more of either that aggregate market value of all of the assets of the corporation determined on a consolidated basis or the aggregate market value of all the outstanding stock of the corporation; or (z) a proposed tender or exchange offer for 50% or more of the outstanding voting stock of the corporation. The corporation shall give not less than 20 days’ notice to all interested stockholders prior to the consummation of any of the transactions described in clause (x) or (y) of the second sentence of this paragraph; or
(7) The business combination is with an interested stockholder who became an interested stockholder at a time when the restrictions contained in this section did not apply by reason of any of paragraphs (b)(1) through (4) of this section, provided, however, that this paragraph (b)(7) shall not apply if, at the time such interested stockholder became an interested stockholder, the corporation’s certificate of incorporation contained a provision authorized by the last sentence of this subsection (b).
Notwithstanding paragraphs (b)(1), (2), (3) and (4) of this section, a corporation may elect by a provision of its original certificate of incorporation or any amendment thereto to be governed by this section; provided that any such amendment to the certificate of incorporation shall not apply to restrict a business combination between the corporation and an interested stockholder of the corporation if the interested stockholder became such before the date and time at which the certificate filed in accordance with § 103 of this title becomes effective thereunder.
(c) As used in this section only, the term:
(1) “Affiliate” means a person that directly, or indirectly through 1 or more intermediaries, controls, or is controlled by, or is under common control with, another person.
(2) “Associate,” when used to indicate a relationship with any person, means: (i) Any corporation, partnership, unincorporated association or other entity of which such person is a director, officer or partner or is, directly or indirectly, the owner of 20% or more of any class of voting stock; (ii) any trust or other estate in which such person has at least a 20% beneficial interest or as to which such person serves as trustee or in a similar fiduciary capacity; and (iii) any relative or spouse of such person, or any relative of such spouse, who has the same residence as such person.
(3) “Business combination,” when used in reference to any corporation and any interested stockholder of such corporation, means:
(i) Any merger or consolidation of the corporation or any direct or indirect majority-owned subsidiary of the corporation with (A) the interested stockholder, or (B) with any other corporation, partnership, unincorporated association or other entity if the merger or consolidation is caused by the interested stockholder and as a result of such merger or consolidation subsection (a) of this section is not applicable to the surviving entity;
(ii) Any sale, lease, exchange, mortgage, pledge, transfer or other disposition (in 1 transaction or a series of transactions), except proportionately as a stockholder of such corporation, to or with the interested stockholder, whether as part of a dissolution or otherwise, of assets of the corporation or of any direct or indirect majority-owned subsidiary of the corporation which assets have an aggregate market value equal to 10% or more of either the aggregate market value of all the assets of the corporation determined on a consolidated basis or the aggregate market value of all the outstanding stock of the corporation;
(iii) Any transaction which results in the issuance or transfer by the corporation or by any direct or indirect majority-owned subsidiary of the corporation of any stock of the corporation or of such subsidiary to the interested stockholder, except: (A) Pursuant to the exercise, exchange or conversion of securities exercisable for, exchangeable for or convertible into stock of such corporation or any such subsidiary which securities were outstanding prior to the time that the interested stockholder became such; (B) pursuant to a merger under § 251(g) of this title; (C) pursuant to a dividend or distribution paid or made, or the exercise, exchange or conversion of securities exercisable for, exchangeable for or convertible into stock of such corporation or any such subsidiary which security is distributed, pro rata to all holders of a class or series of stock of such corporation subsequent to the time the interested stockholder became such; (D) pursuant to an exchange offer by the corporation to purchase stock made on the same terms to all holders of said stock; or (E) any issuance or transfer of stock by the corporation; provided however, that in no case under items (C)-(E) of this subparagraph shall there be an increase in the interested stockholder’s proportionate share of the stock of any class or series of the corporation or of the voting stock of the corporation;
(iv) Any transaction involving the corporation or any direct or indirect majority-owned subsidiary of the corporation which has the effect, directly or indirectly, of increasing the proportionate share of the stock of any class or series, or securities convertible into the stock of any class or series, of the corporation or of any such subsidiary which is owned by the interested stockholder, except as a result of immaterial changes due to fractional share adjustments or as a result of any purchase or redemption of any shares of stock not caused, directly or indirectly, by the interested stockholder; or
(v) Any receipt by the interested stockholder of the benefit, directly or indirectly (except proportionately as a stockholder of such corporation), of any loans, advances, guarantees, pledges or other financial benefits (other than those expressly permitted in paragraphs (c)(3)(i)-(iv) of this section) provided by or through the corporation or any direct or indirect majority-owned subsidiary.
(4) “Control,” including the terms “controlling,” “controlled by” and “under common control with,” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting stock, by contract or otherwise. A person who is the owner of 20% or more of the outstanding voting stock of any corporation, partnership, unincorporated association or other entity shall be presumed to have control of such entity, in the absence of proof by a preponderance of the evidence to the contrary; Notwithstanding the foregoing, a presumption of control shall not apply where such person holds voting stock, in good faith and not for the purpose of circumventing this section, as an agent, bank, broker, nominee, custodian or trustee for 1 or more owners who do not individually or as a group have control of such entity.
(5) “Interested stockholder” means any person (other than the corporation and any direct or indirect majority-owned subsidiary of the corporation) that (i) is the owner of 15% or more of the outstanding voting stock of the corporation, or (ii) is an affiliate or associate of the corporation and was the owner of 15% or more of the outstanding voting stock of the corporation at any time within the 3-year period immediately prior to the date on which it is sought to be determined whether such person is an interested stockholder, and the affiliates and associates of such person; provided, however, that the term “interested stockholder” shall not include (x) any person who (A) owned shares in excess of the 15% limitation set forth herein as of, or acquired such shares pursuant to a tender offer commenced prior to, December 23, 1987, or pursuant to an exchange offer announced prior to the aforesaid date and commenced within 90 days thereafter and either (I) continued to own shares in excess of such 15% limitation or would have but for action by the corporation or (II) is an affiliate or associate of the corporation and so continued (or so would have continued but for action by the corporation) to be the owner of 15% or more of the outstanding voting stock of the corporation at any time within the 3-year period immediately prior to the date on which it is sought to be determined whether such a person is an interested stockholder or (B) acquired said shares from a person described in item (A) of this paragraph by gift, inheritance or in a transaction in which no consideration was exchanged; or (y) any person whose ownership of shares in excess of the 15% limitation set forth herein is the result of action taken solely by the corporation; provided that such person shall be an interested stockholder if thereafter such person acquires additional shares of voting stock of the corporation, except as a result of further corporate action not caused, directly or indirectly, by such person. For the purpose of determining whether a person is an interested stockholder, the voting stock of the corporation deemed to be outstanding shall include stock deemed to be owned by the person through application of paragraph (9) of this subsection but shall not include any other unissued stock of such corporation which may be issuable pursuant to any agreement, arrangement or understanding, or upon exercise of conversion rights, warrants or options, or otherwise.
(6) “Person” means any individual, corporation, partnership, unincorporated association or other entity.
(7) “Stock” means, with respect to any corporation, capital stock and, with respect to any other entity, any equity interest.
(8) “Voting stock” means, with respect to any corporation, stock of any class or series entitled to vote generally in the election of directors and, with respect to any entity that is not a corporation, any equity interest entitled to vote generally in the election of the governing body of such entity. Every reference to a percentage of voting stock shall refer to such percentage of the votes of such voting stock.
(9) “Owner,” including the terms “own” and “owned,” when used with respect to any stock, means a person that individually or with or through any of its affiliates or associates:
(i) Beneficially owns such stock, directly or indirectly; or
(ii) Has (A) the right to acquire such stock (whether such right is exercisable immediately or only after the passage of time) pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, warrants or options, or otherwise; provided, however, that a person shall not be deemed the owner of stock tendered pursuant to a tender or exchange offer made by such person or any of such person’s affiliates or associates until such tendered stock is accepted for purchase or exchange; or (B) the right to vote such stock pursuant to any agreement, arrangement or understanding; provided, however, that a person shall not be deemed the owner of any stock because of such person’s right to vote such stock if the agreement, arrangement or understanding to vote such stock arises solely from a revocable proxy or consent given in response to a proxy or consent solicitation made to 10 or more persons; or
(iii) Has any agreement, arrangement or understanding for the purpose of acquiring, holding, voting (except voting pursuant to a revocable proxy or consent as described in item (B) of subparagraph (ii) of this paragraph), or disposing of such stock with any other person that beneficially owns, or whose affiliates or associates beneficially own, directly or indirectly, such stock.
(d) No provision of a certificate of incorporation or bylaw shall require, for any vote of stockholders required by this section, a greater vote of stockholders than that specified in this section.
(e) The Court of Chancery is hereby vested with exclusive jurisdiction to hear and determine all matters with respect to this section.
66 Del. Laws, c. 204, § 1; 70 Del. Laws, c. 79, §§ 8-10; 73 Del. Laws, c. 298, §§ 4-6; 76 Del. Laws, c. 145, § 2; 81 Del. Laws, c. 86, §§ 3, 4;
§ 204. Ratification of defective corporate acts and stock [For application of this section, see 80 Del. Laws, c. 40, § 16, and 81 Del. Laws, c. 354, § 16].
(a) Subject to subsection (f) of this section, no defective corporate act or putative stock shall be void or voidable solely as a result of a failure of authorization if ratified as provided in this section or validated by the Court of Chancery in a proceeding brought under § 205 of this title.
(b) (1) In order to ratify 1 or more defective corporate acts pursuant to this section (other than the ratification of an election of the initial board of directors pursuant to paragraph (b)(2) of this section), the board of directors of the corporation shall adopt resolutions stating:
(A) The defective corporate act or acts to be ratified;
(B) The date of each defective corporate act or acts;
(C) If such defective corporate act or acts involved the issuance of shares of putative stock, the number and type of shares of putative stock issued and the date or dates upon which such putative shares were purported to have been issued;
(D) The nature of the failure of authorization in respect of each defective corporate act to be ratified; and
(E) That the board of directors approves the ratification of the defective corporate act or acts.
Such resolutions may also provide that, at any time before the validation effective time in respect of any defective corporate act set forth therein, notwithstanding the approval of the ratification of such defective corporate act by stockholders, the board of directors may abandon the ratification of such defective corporate act without further action of the stockholders. The quorum and voting requirements applicable to the ratification by the board of directors of any defective corporate act shall be the quorum and voting requirements applicable to the type of defective corporate act proposed to be ratified at the time the board adopts the resolutions ratifying the defective corporate act; provided that if the certificate of incorporation or bylaws of the corporation, any plan or agreement to which the corporation was a party or any provision of this title, in each case as in effect as of the time of the defective corporate act, would have required a larger number or portion of directors or of specified directors for a quorum to be present or to approve the defective corporate act, such larger number or portion of such directors or such specified directors shall be required for a quorum to be present or to adopt the resolutions to ratify the defective corporate act, as applicable, except that the presence or approval of any director elected, appointed or nominated by holders of any class or series of which no shares are then outstanding, or by any person that is no longer a stockholder, shall not be required.
(2) In order to ratify a defective corporate act in respect of the election of the initial board of directors of the corporation pursuant to § 108 of this title, a majority of the persons who, at the time the resolutions required by this paragraph (b)(2) of this section are adopted, are exercising the powers of directors under claim and color of an election or appointment as such may adopt resolutions stating:
(A) The name of the person or persons who first took action in the name of the corporation as the initial board of directors of the corporation;
(B) The earlier of the date on which such persons first took such action or were purported to have been elected as the initial board of directors; and
(C) That the ratification of the election of such person or persons as the initial board of directors is approved.
(c) Each defective corporate act ratified pursuant to paragraph (b)(1) of this section shall be submitted to stockholders for approval as provided in subsection (d) of this section, unless:
(1) (A) No other provision of this title, and no provision of the certificate of incorporation or bylaws of the corporation, or of any plan or agreement to which the corporation is a party, would have required stockholder approval of such defective corporate act to be ratified, either at the time of such defective corporate act or at the time the board of directors adopts the resolutions ratifying such defective corporate act pursuant to paragraph (b)(1) of this section; and
(B) Such defective corporate act did not result from a failure to comply with § 203 of this title; or
(2) As of the record date for determining the stockholders entitled to vote on the ratification of such defective corporate act, there are no shares of valid stock outstanding and entitled to vote thereon, regardless of whether there then exist any shares of putative stock.
(d) If the ratification of a defective corporate act is required to be submitted to stockholders for approval pursuant to subsection (c) of this section, due notice of the time, place, if any, and purpose of the meeting shall be given at least 20 days before the date of the meeting to each holder of valid stock and putative stock, whether voting or nonvoting, at the address of such holder as it appears or most recently appeared, as appropriate, on the records of the corporation. The notice shall also be given to the holders of record of valid stock and putative stock, whether voting or nonvoting, as of the time of the defective corporate act (or, in the case of any defective corporate act that involved the establishment of a record date for notice of or voting at any meeting of stockholders, for action by written consent of stockholders in lieu of a meeting, or for any other purpose, the record date for notice of or voting at such meeting, the record date for action by written consent, or the record date for such other action, as the case may be), other than holders whose identities or addresses cannot be determined from the records of the corporation. The notice shall contain a copy of the resolutions adopted by the board of directors pursuant to paragraph (b)(1) of this section or the information required by paragraphs (b)(1)(A) through (E) of this section and a statement that any claim that the defective corporate act or putative stock ratified hereunder is void or voidable due to the failure of authorization, or that the Court of Chancery should declare in its discretion that a ratification in accordance with this section not be effective or be effective only on certain conditions must be brought within 120 days from the applicable validation effective time. At such meeting, the quorum and voting requirements applicable to ratification of such defective corporate act shall be the quorum and voting requirements applicable to the type of defective corporate act proposed to be ratified at the time of the approval of the ratification, except that:
(1) If the certificate of incorporation or bylaws of the corporation, any plan or agreement to which the corporation was a party or any provision of this title in effect as of the time of the defective corporate act would have required a larger number or portion of stock or of any class or series thereof or of specified stockholders for a quorum to be present or to approve the defective corporate act, the presence or approval of such larger number or portion of stock or of such class or series thereof or of such specified stockholders shall be required for a quorum to be present or to approve the ratification of the defective corporate act, as applicable, except that the presence or approval of shares of any class or series of which no shares are then outstanding, or of any person that is no longer a stockholder, shall not be required;
(2) The approval by stockholders of the ratification of the election of a director shall require the affirmative vote of the majority of shares present at the meeting and entitled to vote on the election of such director, except that if the certificate of incorporation or bylaws of the corporation then in effect or in effect at the time of the defective election require or required a larger number or portion of stock or of any class or series thereof or of specified stockholders to elect such director, the affirmative vote of such larger number or portion of stock or of any class or series thereof or of such specified stockholders shall be required to ratify the election of such director, except that the presence or approval of shares of any class or series of which no shares are then outstanding, or of any person that is no longer a stockholder, shall not be required; and
(3) In the event of a failure of authorization resulting from failure to comply with the provisions of § 203 of this title, the ratification of the defective corporate act shall require the vote set forth in § 203(a)(3) of this title, regardless of whether such vote would have otherwise been required.
Shares of putative stock on the record date for determining stockholders entitled to vote on any matter submitted to stockholders pursuant to subsection (c) of this section (and without giving effect to any ratification that becomes effective after such record date) shall neither be entitled to vote nor counted for quorum purposes in any vote to ratify any defective corporate act.
(e) If a defective corporate act ratified pursuant to this section would have required under any other section of this title the filing of a certificate in accordance with § 103 of this title, then, whether or not a certificate was previously filed in respect of such defective corporate act and in lieu of filing the certificate otherwise required by this title, the corporation shall file a certificate of validation with respect to such defective corporate act in accordance with § 103 of this title. A separate certificate of validation shall be required for each defective corporate act requiring the filing of a certificate of validation under this section, except that (i) 2 or more defective corporate acts may be included in a single certificate of validation if the corporation filed, or to comply with this title would have filed, a single certificate under another provision of this title to effect such acts, and (ii) 2 or more overissues of shares of any class, classes or series of stock may be included in a single certificate of validation, provided that the increase in the number of authorized shares of each such class or series set forth in the certificate of validation shall be effective as of the date of the first such overissue. The certificate of validation shall set forth:
(1) Each defective corporate act that is the subject of the certificate of validation (including, in the case of any defective corporate act involving the issuance of shares of putative stock, the number and type of shares of putative stock issued and the date or dates upon which such putative shares were purported to have been issued), the date of such defective corporate act, and the nature of the failure of authorization in respect of such defective corporate act;
(2) A statement that such defective corporate act was ratified in accordance with this section, including the date on which the board of directors ratified such defective corporate act and the date, if any, on which the stockholders approved the ratification of such defective corporate act; and
(3) Information required by 1 of the following paragraphs:
a. If a certificate was previously filed under § 103 of this title in respect of such defective corporate act and no changes to such certificate are required to give effect to such defective corporate act in accordance with this section, the certificate of validation shall set forth (x) the name, title and filing date of the certificate previously filed and of any certificate of correction thereto and (y) a statement that a copy of the certificate previously filed, together with any certificate of correction thereto, is attached as an exhibit to the certificate of validation;
b. If a certificate was previously filed under § 103 of this title in respect of the defective corporate act and such certificate requires any change to give effect to the defective corporate act in accordance with this section (including a change to the date and time of the effectiveness of such certificate), the certificate of validation shall set forth (x) the name, title and filing date of the certificate so previously filed and of any certificate of correction thereto, (y) a statement that a certificate containing all of the information required to be included under the applicable section or sections of this title to give effect to the defective corporate act is attached as an exhibit to the certificate of validation, and (z) the date and time that such certificate shall be deemed to have become effective pursuant to this section; or
c. If a certificate was not previously filed under § 103 of this title in respect of the defective corporate act and the defective corporate act ratified pursuant to this section would have required under any other section of this title the filing of a certificate in accordance with § 103 of this title, the certificate of validation shall set forth (x) a statement that a certificate containing all of the information required to be included under the applicable section or sections of this title to give effect to the defective corporate act is attached as an exhibit to the certificate of validation, and (y) the date and time that such certificate shall be deemed to have become effective pursuant to this section.
A certificate attached to a certificate of validation pursuant to paragraph (e)(3)b. or c. of this section need not be separately executed and acknowledged and need not include any statement required by any other section of this title that such instrument has been approved and adopted in accordance with the provisions of such other section.
(f) From and after the validation effective time, unless otherwise determined in an action brought pursuant to § 205 of this title:
(1) Subject to the last sentence of subsection (d) of this section, each defective corporate act ratified in accordance with this section shall no longer be deemed void or voidable as a result of the failure of authorization described in the resolutions adopted pursuant to subsection (b) of this section and such effect shall be retroactive to the time of the defective corporate act; and
(2) Subject to the last sentence of subsection (d) of this section, each share or fraction of a share of putative stock issued or purportedly issued pursuant to any such defective corporate act shall no longer be deemed void or voidable and shall be deemed to be an identical share or fraction of a share of outstanding stock as of the time it was purportedly issued.
(g) In respect of each defective corporate act ratified by the board of directors pursuant to subsection (b) of this section, prompt notice of the ratification shall be given to all holders of valid stock and putative stock, whether voting or nonvoting, as of the date the board of directors adopts the resolutions approving such defective corporate act, or as of a date within 60 days after such date of adoption, as established by the board of directors, at the address of such holder as it appears or most recently appeared, as appropriate, on the records of the corporation. The notice shall also be given to the holders of record of valid stock and putative stock, whether voting or nonvoting, as of the time of the defective corporate act, other than holders whose identities or addresses cannot be determined from the records of the corporation. The notice shall contain a copy of the resolutions adopted pursuant to subsection (b) of this section or the information specified in paragraphs (b)(1)(A) through (E) or paragraphs (b)(2)(A) through (C) of this section, as applicable, and a statement that any claim that the defective corporate act or putative stock ratified hereunder is void or voidable due to the failure of authorization, or that the Court of Chancery should declare in its discretion that a ratification in accordance with this section not be effective or be effective only on certain conditions must be brought within 120 days from the later of the validation effective time or the time at which the notice required by this subsection is given. Notwithstanding the foregoing, (i) no such notice shall be required if notice of the ratification of the defective corporate act is to be given in accordance with subsection (d) of this section, and (ii) in the case of a corporation that has a class of stock listed on a national securities exchange, the notice required by this subsection and the second sentence of subsection (d) of this section may be deemed given if disclosed in a document publicly filed by the corporation with the Securities and Exchange Commission pursuant to § 13, § 14 or § 15(d) (15 U.S.C. § 78m, § 77n or § 78o(d)) of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, or the corresponding provisions of any subsequent United States federal securities laws, rules or regulations. If any defective corporate act has been approved by stockholders acting pursuant to § 228 of this title, the notice required by this subsection may be included in any notice required to be given pursuant to § 228(e) of this title and, if so given, shall be sent to the stockholders entitled thereto under § 228(e) and to all holders of valid and putative stock to whom notice would be required under this subsection if the defective corporate act had been approved at a meeting other than any stockholder who approved the action by consent in lieu of a meeting pursuant to § 228 of this title or any holder of putative stock who otherwise consented thereto in writing. Solely for purposes of subsection (d) of this section and this subsection, notice to holders of putative stock, and notice to holders of valid stock and putative stock as of the time of the defective corporate act, shall be treated as notice to holders of valid stock for purposes of §§ 222 and 228, 229, 230, 232 and 233 of this title.
(h) As used in this section and in § 205 of this title only, the term:
(1) “Defective corporate act” means an overissue, an election or appointment of directors that is void or voidable due to a failure of authorization, or any act or transaction purportedly taken by or on behalf of the corporation that is, and at the time such act or transaction was purportedly taken would have been, within the power of a corporation under subchapter II of this chapter (without regard to the failure of authorization identified in § 204(b)(1)(D) of this title), but is void or voidable due to a failure of authorization;
(2) “Failure of authorization” means: (i) the failure to authorize or effect an act or transaction in compliance with (A) the provisions of this title, (B) the certificate of incorporation or bylaws of the corporation, or (C) any plan or agreement to which the corporation is a party or the disclosure set forth in any proxy or consent solicitation statement, if and to the extent such failure would render such act or transaction void or voidable; or (ii) the failure of the board of directors or any officer of the corporation to authorize or approve any act or transaction taken by or on behalf of the corporation that would have required for its due authorization the approval of the board of directors or such officer;
(3) “Overissue” means the purported issuance of:
a. Shares of capital stock of a class or series in excess of the number of shares of such class or series the corporation has the power to issue under § 161 of this title at the time of such issuance; or
b. Shares of any class or series of capital stock that is not then authorized for issuance by the certificate of incorporation of the corporation;
(4) “Putative stock” means the shares of any class or series of capital stock of the corporation (including shares issued upon exercise of options, rights, warrants or other securities convertible into shares of capital stock of the corporation, or interests with respect thereto that were created or issued pursuant to a defective corporate act) that:
a. But for any failure of authorization, would constitute valid stock; or
b. Cannot be determined by the board of directors to be valid stock;
(5) “Time of the defective corporate act” means the date and time the defective corporate act was purported to have been taken;
(6) “Validation effective time” with respect to any defective corporate act ratified pursuant to this section means the latest of:
a. The time at which the defective corporate act submitted to the stockholders for approval pursuant to subsection (c) of this section is approved by such stockholders or if no such vote of stockholders is required to approve the ratification of the defective corporate act, the time at which the board of directors adopts the resolutions required by paragraph (b)(1) or (b)(2) of this section;
b. Where no certificate of validation is required to be filed pursuant to subsection (e) of this section, the time, if any, specified by the board of directors in the resolutions adopted pursuant to paragraph (b)(1) or (b)(2) of this section, which time shall not precede the time at which such resolutions are adopted; and
c. The time at which any certificate of validation filed pursuant to subsection (e) of this section shall become effective in accordance with § 103 of this title.
(7) “Valid stock” means the shares of any class or series of capital stock of the corporation that have been duly authorized and validly issued in accordance with this title.
In the absence of actual fraud in the transaction, the judgment of the board of directors that shares of stock are valid stock or putative stock shall be conclusive, unless otherwise determined by the Court of Chancery in a proceeding brought pursuant to § 205 of this title.
(i) Ratification under this section or validation under § 205 of this title shall not be deemed to be the exclusive means of ratifying or validating any act or transaction taken by or on behalf of the corporation, including any defective corporate act, or any issuance of stock, including any putative stock, or of adopting or endorsing any act or transaction taken by or in the name of the corporation prior to the commencement of its existence, and the absence or failure of ratification in accordance with either this section or validation under § 205 of this title shall not, of itself, affect the validity or effectiveness of any act or transaction or the issuance of any stock properly ratified under common law or otherwise, nor shall it create a presumption that any such act or transaction is or was a defective corporate act or that such stock is void or voidable.
79 Del. Laws, c. 72, § 4; 80 Del. Laws, c. 40, § 8; 81 Del. Laws, c. 354, §§ 4-8;
§ 205. Proceedings regarding validity of defective corporate acts and stock [For application of this section, see 80 Del. Laws, c. 40, § 16].
(a) Subject to subsection (f) of this section, upon application by the corporation, any successor entity to the corporation, any member of the board of directors, any record or beneficial holder of valid stock or putative stock, any record or beneficial holder of valid or putative stock as of the time of a defective corporate act ratified pursuant to § 204 of this title, or any other person claiming to be substantially and adversely affected by a ratification pursuant to § 204 of this title, the Court of Chancery may:
(1) Determine the validity and effectiveness of any defective corporate act ratified pursuant to § 204 of this title;
(2) Determine the validity and effectiveness of the ratification of any defective corporate act pursuant to § 204 of this title;
(3) Determine the validity and effectiveness of any defective corporate act not ratified or not ratified effectively pursuant to § 204 of this title;
(4) Determine the validity of any corporate act or transaction and any stock, rights or options to acquire stock; and
(5) Modify or waive any of the procedures set forth in § 204 of this title to ratify a defective corporate act.
(b) In connection with an action under this section, the Court of Chancery may:
(1) Declare that a ratification in accordance with and pursuant to § 204 of this title is not effective or shall only be effective at a time or upon conditions established by the Court;
(2) Validate and declare effective any defective corporate act or putative stock and impose conditions upon such validation by the Court;
(3) Require measures to remedy or avoid harm to any person substantially and adversely affected by a ratification pursuant to § 204 of this title or from any order of the Court pursuant to this section, excluding any harm that would have resulted if the defective corporate act had been valid when approved or effectuated;
(4) Order the Secretary of State to accept an instrument for filing with an effective time specified by the Court, which effective time may be prior or subsequent to the time of such order, provided that the filing date of such instrument shall be determined in accordance with § 103(c)(3) of this title;
(5) Approve a stock ledger for the corporation that includes any stock ratified or validated in accordance with this section or with § 204 of this title;
(6) Declare that shares of putative stock are shares of valid stock or require a corporation to issue and deliver shares of valid stock in place of any shares of putative stock;
(7) Order that a meeting of holders of valid stock or putative stock be held and exercise the powers provided to the Court under § 227 of this title with respect to such a meeting;
(8) Declare that a defective corporate act validated by the Court shall be effective as of the time of the defective corporate act or at such other time as the Court shall determine;
(9) Declare that putative stock validated by the Court shall be deemed to be an identical share or fraction of a share of valid stock as of the time originally issued or purportedly issued or at such other time as the Court shall determine; and
(10) Make such other orders regarding such matters as it deems proper under the circumstances.
(c) Service of the application under subsection (a) of this section upon the registered agent of the corporation shall be deemed to be service upon the corporation, and no other party need be joined in order for the Court of Chancery to adjudicate the matter. In an action filed by the corporation, the Court may require notice of the action be provided to other persons specified by the Court and permit such other persons to intervene in the action.
(d) In connection with the resolution of matters pursuant to subsections (a) and (b) of this section, the Court of Chancery may consider the following:
(1) Whether the defective corporate act was originally approved or effectuated with the belief that the approval or effectuation was in compliance with the provisions of this title, the certificate of incorporation or bylaws of the corporation;
(2) Whether the corporation and board of directors has treated the defective corporate act as a valid act or transaction and whether any person has acted in reliance on the public record that such defective corporate act was valid;
(3) Whether any person will be or was harmed by the ratification or validation of the defective corporate act, excluding any harm that would have resulted if the defective corporate act had been valid when approved or effectuated;
(4) Whether any person will be harmed by the failure to ratify or validate the defective corporate act; and
(5) Any other factors or considerations the Court deems just and equitable.
(e) The Court of Chancery is hereby vested with exclusive jurisdiction to hear and determine all actions brought under this section.
(f) Notwithstanding any other provision of this section, no action asserting:
(1) That a defective corporate act or putative stock ratified in accordance with § 204 of this title is void or voidable due to a failure of authorization identified in the resolution adopted in accordance with 204(b) of this title; or
(2) That the Court of Chancery should declare in its discretion that a ratification in accordance with § 204 of this title not be effective or be effective only on certain conditions,
may be brought after the expiration of 120 days from the later of the validation effective time and the time notice, if any, that is required to be given pursuant to § 204(g) of this title is given with respect to such ratification, except that this subsection shall not apply to an action asserting that a ratification was not accomplished in accordance with § 204 of this title or to any person to whom notice of the ratification was required to have been given pursuant to § 204(d) or (g) of this title, but to whom such notice was not given.
End-User License Agreement
("Agreement")
Last updated:
September 30, 2024
Please read this End-User License Agreement carefully before
clicking the "I Agree" button, downloading or using CliqClaq AIO.
Interpretation and
Definitions Interpretation
The words of which the initial letter is capitalized have
meanings defined under the following conditions. The following definitions
shall have the same meaning regardless of whether they appear in singular or in
plural.
Definitions
For the purposes of this End-User License Agreement:
* Agreement means this End-User License Agreement that forms
the entire agreement between You and the Company regarding the use of the
Application.
* Application means the software program provided by the
Company downloaded by You through an Application Store's account to a Device,
named CliqClaq AIO.
* Application Store means the digital distribution service
operated and developed by Apple Inc. (Apple App Store) or Google Inc. (Google
Play Store) by which the Application has been downloaded to your Device.
* Company (referred to as either "the Company",
"We", "Us" or "Our" in this Agreement) refers to
Sipla Media Corp, 5603 Marquesas Circle, Sarasota, FL 34233.
* Content refers to content such as text, images, or other
information that can be posted, uploaded, linked to or otherwise made available
by You, regardless of the form of that content.
* Country refers to: Delaware, United States
* Device means any device that can access the Application
such as a computer, a cellphone or a digital tablet.
* Family Sharing / Family Group permits You to share
applications downloaded through the Application Store with other family members
by allowing them to view and download each other’s eligible Applications to
their associated Devices.
* Third-Party Services means any services or content
(including data, information, applications and other products services)
provided by a third-party that may be displayed, included or made available by
the Application.
* You means the individual accessing or using the
Application or the company, or other legal entity on behalf of which such
individual is accessing or using the Application, as applicable.
Acknowledgment
By clicking the "I Agree" button, downloading or
using the Application, You are agreeing to be bound by the terms and conditions
of this Agreement. If You do not agree to the terms of this Agreement, do not
click on the "I Agree" button, do not download or do not use the
Application.
This Agreement is a legal document between You and the Company,
and it governs your use of the Application made available to You by the
Company.
This Agreement is between You and the Company only and not
with the Application Store. Therefore, the Company is solely responsible for
the Application and its content. Although the Application Store is not a party
to this Agreement, it has the right to enforce it against You as a third-party
beneficiary relating to your use of the Application.
Since the Application can be accessed and used by other
users via, for example, Family Sharing / Family Group or volume purchasing, the
use of the Application by those users is expressly subject to this Agreement.
The Application is licensed, not sold, to You by the Company
for use strictly in accordance with the terms of this Agreement.
License
Scope of License
The Company grants You a revocable, non-exclusive,
non-transferable, limited license to download, install and use the Application
strictly in accordance with the terms of this Agreement.
You may only use the Application on a Device that You own or
control and as permitted by the Application Store's terms and conditions.
The license that is granted to You by the Company is solely
for your personal, non-commercial purposes strictly in accordance with the
terms of this Agreement.
License
Restrictions
You agree not to, and You will not permit others to:
* License, sell, rent, lease, assign, distribute, transmit,
host, outsource, disclose or otherwise commercially exploit the Application or
make the Application available to any third party.
* Copy or use the Application for any purpose other than as
permitted under the above section 'License'.
* Modify, make derivative works of, disassemble, decrypt,
reverse compile or reverse engineer any part of the Application.
* Remove, alter or obscure any proprietary notice (including
any notice of copyright or trademark) of the Company or its affiliates,
partners, suppliers or the licensors of the Application.
Content
Content
Restrictions
The Company is not responsible for the entries, information
or content of the Application's users. You expressly understand and agree that
You are solely responsible for the Content and for all activity that occurs
under your account, whether done so by You or any third person using your
account.
You may not transmit any Content that is unlawful,
offensive, upsetting, intended to disgust, threatening, libelous, defamatory,
obscene or otherwise objectionable. Examples of such objectionable Content
include, but are not limited to, the following:
* Unlawful or promoting unlawful activity.
* Defamatory, discriminatory, or mean-spirited content,
including references or commentary about religion, race, sexual orientation,
gender, national/ethnic origin, or other targeted groups.
* Spam, machine generated content or randomly generated
content, constituting unauthorized or unsolicited advertising, chain letters,
any other form of unauthorized solicitation, or any form of lottery or
gambling.
* Containing or installing any viruses, worms, malware,
trojan horses, or other content that is designed or intended to disrupt,
damage, or limit the functioning of any software, hardware or
telecommunications equipment or to damage or obtain unauthorized access to any
data or other information of a third person.
* Infringing on any proprietary rights of any party,
including patent, trademark, trade secret, copyright, right of publicity or
other rights.
* Impersonating any person or entity including the Company
and its employees or representatives.
* Violating the privacy of any third person.
* False information and features.
The Company reserves the right, but not the obligation, to,
in its sole discretion, determine whether or not any Content is appropriate and
complies with this Agreement, refuse or remove any Content. The Company further
reserves the right to make formatting and edits and change the manner any
Content. The Company can also limit or revoke the use of the Application if You
post such objectionable Content.
As the Company cannot control all content posted by users
and/or third parties on the Application, you agree to use the Application at
your own risk. You understand that by using the Application You may be exposed
to content that You may find offensive, indecent, incorrect or objectionable,
and You agree that under no circumstances will the Company be liable in any way
for any content, including any errors or omissions in any content, or any loss
or damage of any kind incurred as a result of your use of any content.
Intellectual
Property
The Application, including without limitation all
copyrights, patents, trademarks, trade secrets and other intellectual property
rights are, and shall remain, the sole and exclusive property of the Company.
The Company shall not be obligated to indemnify or defend
You with respect to any third-party claim arising out of or relating to the
Application. To the extend the Company is required to provide indemnification
by applicable law, the Company, not the Application Store, shall be solely
responsible for the investigation, defense, settlement and discharge of any
claim that the Application or your use of it infringes any third-party
intellectual property rights.
Your Suggestions
Any feedback, comments, ideas, improvements or suggestions
provided by You to the Company with respect to the Application shall remain the
sole and exclusive property of the Company. The Company shall be free to use,
copy, modify, publish, or redistribute the Suggestions for any purpose and in
any way without any credit or any compensation to You.
Modifications to
the Application
The Company reserves the right to modify, suspend or
discontinue, temporarily or permanently, the Application or any service to
which it connects, with or without notice and without liability to You.
Updates to the
Application
The Company may from time to time provide enhancements or
improvements to the features/functionality of the Application, which may
include patches, bug fixes, updates, upgrades and other modifications.
Updates may modify or delete certain features and/or
functionalities of the Application. You agree that the Company has no
obligation to (i) provide any Updates, or (ii) continue to provide or enable
any particular features and/or functionalities of the Application to You.
You further agree that all updates or any other
modifications will be (i) deemed to constitute an integral part of the
Application, and (ii) subject to the terms and conditions of this Agreement.
Maintenance and Support
The Company does not provide any maintenance or support for
the download and use of the Application. To the extent that any maintenance or
support is required by applicable law, the Company, not the Application Store,
shall be obligated to furnish any such maintenance or support.
Third-Party
Services
The Application may display, include or make available third-party
content (including data, information, applications and other products services)
or provide links to third-party websites or services.
You acknowledge and agree that the Company shall not be
responsible for any Third-party Services, including their accuracy,
completeness, timeliness, validity, copyright compliance, legality, decency,
quality or any other aspect thereof. The Company does not assume and shall not
have any liability or responsibility to You or any other person or entity for
any Third-party Services.
You must comply with applicable Third parties’ Terms of
agreement when using the Application. Third-party Services and links thereto
are provided solely as a convenience to You and You access and use them
entirely at your own risk and subject to such third parties' Terms and
conditions.
Privacy Policy
The Company collects, stores, maintains, and shares
information about You in accordance with Our Privacy Policy: <
https://cliqclaqa.io/#/legal/privacy-policy>
By accepting this Agreement, You acknowledge that You hereby
agree and consent to the terms and conditions of Our Privacy Policy.
Term and
Termination
This Agreement shall remain in effect until terminated by
You or the Company. The Company may, in its sole discretion, at any time and
for any or no reason, suspend or terminate this Agreement with or without prior
notice.
This Agreement will terminate immediately, without prior
notice from the Company, in the event that you fail to comply with any
provision of this Agreement. You may also terminate this Agreement by deleting
the Application and all copies thereof from your Device or from your computer.
Upon termination of this Agreement, You shall cease all use
of the Application and delete all copies of the Application from your Device.
Termination of this Agreement will not limit any of the
Company's rights or remedies at law or in equity in case of breach by You
(during the term of this Agreement) of any of your obligations under the
present Agreement.
Indemnification
You agree to indemnify and hold the Company and its parents,
subsidiaries, affiliates, officers, employees, agents, partners and licensors
(if any) harmless from any claim or demand, including reasonable attorneys'
fees, due to or arising out of your: (a) use of the Application; (b) violation
of this Agreement or any law or regulation; or (c) violation of any right of a
third party.
No Warranties
The Application is provided to You "AS IS" and
"AS AVAILABLE" and with all faults and defects without warranty of
any kind. To the maximum extent permitted under applicable law, the Company, on
its own behalf and on behalf of its affiliates and its and their respective
licensors and service providers, expressly disclaims all warranties, whether
express, implied, statutory or otherwise, with respect to the Application,
including all implied warranties of merchantability, fitness for a particular
purpose, title and non-infringement, and warranties that may arise out of
course of dealing, course of performance, usage or trade practice. Without
limitation to the foregoing, the Company provides no warranty or undertaking
and makes no representation of any kind that the Application will meet your
requirements, achieve any intended results, be compatible or work with any
other software, applications, systems or services, operate without
interruption, meet any performance or reliability standards or be error free or
that any errors or defects can or will be corrected. Without limiting the
foregoing, neither the Company nor any of the company's provider makes any
representation or warranty of any kind, express or implied:
(i) as to the operation or availability of the Application,
or the information, content, and materials or products included thereon; (ii)
that the Application will be uninterrupted or error-free; (iii) as to the
accuracy, reliability, or currency of any information or content provided
through the Application; or (iv) that the Application, its servers, the
content, or e-mails sent from or on behalf of the Company are free of viruses,
scripts, trojan horses, worms, malware, timebombs or other harmful components.
Some jurisdictions do not allow the exclusion of certain
types of warranties or limitations on applicable statutory rights of a
consumer, so some or all of the above exclusions and limitations may not apply
to You. But in such a case the exclusions and limitations set forth in this
section shall be applied to the greatest extent enforceable under applicable
law. To the extent any warranty exists under law that cannot be disclaimed, the
Company, not the Application Store, shall be solely responsible for such
warranty.
Limitation of
Liability
Notwithstanding any damages that You might incur, the entire
liability of the Company and any of its suppliers under any provision of this
Agreement and your exclusive remedy for all of the foregoing shall be limited
to the amount actually paid by You for the Application or through the
Application or 100 USD if You haven't purchased anything through the
Application.
To the maximum extent permitted by applicable law, in no
event shall the Company or its suppliers be liable for any special, incidental,
indirect, or consequential damages whatsoever (including, but not limited to,
damages for loss of profits, loss of data or other information, for business
interruption, for personal injury, loss of privacy arising out of or in any way
related to the use of or inability to use the Application, third-party software
and/or third-party hardware used with the Application, or otherwise in
connection with any provision of this Agreement), even if the Company or any
supplier has been advised of the possibility of such damages and even if the
remedy fails of its essential purpose.
Some states/jurisdictions do not allow the exclusion or
limitation of incidental or consequential damages, so the above limitation or
exclusion may not apply to You.
You expressly understand and agree that the Application
Store, its subsidiaries and affiliates, and its licensors shall not be liable
to You under any theory of liability for any direct, indirect, incidental,
special consequential or exemplary damages that may be incurred by You,
including any loss of data, whether or not the Application Store or its
representatives have been advised of or should have been aware of the
possibility of any such losses arising. Severability and Waiver
Severability
If any provision of this Agreement is held to be
unenforceable or invalid, such provision will be changed and interpreted to
accomplish the objectives of such provision to the greatest extent possible
under applicable law and the remaining provisions will continue in full force
and effect.
Waiver
Except as provided herein, the failure to exercise a right
or to require performance of an obligation under this Agreement shall not
effect a party's ability to exercise such right or require such performance at
any time thereafter nor shall be the waiver of a breach constitute a waiver of
any subsequent breach.
Product Claims
The Company does not make any warranties concerning the
Application. To the extent You have any claim arising from or relating to your
use of the Application, the Company, not the Application Store, is responsible
for addressing any such claims, which may include, but not limited to: (i) any
product liability claims; (ii) any claim that the Application fails to conform to
any applicable legal or regulatory requirement; and (iii) any claim arising
under consumer protection, or similar legislation.
United States
Legal Compliance
You represent and warrant that (i) You are not located in a
country that is subject to the United States government embargo, or that has
been designated by the United States government as a "terrorist
supporting" country, and (ii) You are not listed on any United States
government list of prohibited or restricted parties.
Changes to this
Agreement
The Company reserves the right, at its sole discretion, to
modify or replace this Agreement at any time. If a revision is material we will
provide at least 30 days' notice prior to any new terms taking effect. What
constitutes a material change will be determined at the sole discretion of the
Company.
By continuing to access or use the Application after any
revisions become effective, You agree to be bound by the revised terms. If You
do not agree to the new terms, You are no longer authorized to use the
Application.
Governing Law
The laws of the Country, excluding its conflicts of law
rules, shall govern this Agreement and your use of the Application. Your use of
the Application may also be subject to other local, state, national, or
international laws.
Entire Agreement
The Agreement constitutes the entire agreement between You
and the Company regarding your use of the Application and supersedes all prior
and contemporaneous written or oral agreements between You and the Company. You
may be subject to additional terms and conditions that apply when You use or
purchase other Company's services, which the Company will provide to You at the
time of such use or purchase.
Contact Us
If you have any questions about this Agreement, You can
contact Us:
* By email:
info@siplamedia.com
* By
visiting this page on our website: <https://cliqclaqa.io
/#/contact/contactus >