Common use of Acquisition of Voting Securities Clause in Contracts

Acquisition of Voting Securities. (a) Each Holder agrees that, until the earlier of (i) February 1, 2010 or (ii) the date on which such Holder owns less than 20% of its Initial Series G Holdings and 20% of its Initial Series H Holdings, such Holder will not, directly or indirectly, purchase or otherwise acquire, or agree or offer to purchase or otherwise acquire, beneficial ownership of any Voting Securities without the Issuer's prior written consent, except (x) for Voting Securities owned by such Holder on the date hereof, (y) upon conversion or exchange of securities outstanding on the date hereof or (z) for Voting Securities acquired as a dividend or in connection with any transaction described in Section 6.10.

Appears in 3 contracts

Samples: Shareholders Agreement (Winstar Communications Inc), Shareholders Agreement (Winstar Communications Inc), Shareholders Agreement (Winstar Communications Inc)

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Acquisition of Voting Securities. (a) Each Holder agrees that, until the earlier of (i) February 1, 2010 the tenth anniversary of the date hereof or (ii) the date on which such Holder owns less than 20% of its Initial Series G Holdings and 20% of its Initial Series H Holdings, such Holder will not, directly or indirectly, purchase or otherwise acquire, or agree or offer to purchase or otherwise acquire, beneficial ownership of any Voting Securities without the Issuer's prior written consent, except (x) for Voting Securities owned by such Holder on the date hereof, (y) upon conversion or exchange of securities outstanding on the date hereof or (z) for Voting Securities acquired as a dividend or in connection with any transaction described in Section 6.10.

Appears in 1 contract

Samples: Shareholders Agreement (Winstar Communications Inc)

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