SWM Affiliates

SWM Affiliates. Means those entities, whether presently existing or as may be created in the future, that are or become owned by SWM or that SWM now or in the future controls, directly or indirectly, individually or jointly, through the power to vote more than fifty percent of the voting stock or voting rights of such entities; provided, however, as used herein, the term shall not include any entity engaged in the manufacture or sale of cigarettes, nor shall it include any entity that shall acquire, by... purchase or otherwise, the right to vote or control the vote of any or all of the voting stock of SWM. An entity that is today or that may become in the future a SWM Affiliate shall cease to be a SWM Affiliate when it ceases to be owned or controlled by SWM. Nothing contained herein shall prevent SWM from restructuring its businesses or result in the loss of any rights hereunder following any restructuring; provided, that the composition of the majority of the SWM Board of Directors preceding any restructuring shall be the same as the composition of the majority of the Board of Directors of any entity that becomes the ultimate parent entity of the SWM group of businesses after such restructuring. View More