Action by Holder Sample Clauses
The "Action by Holder" clause defines the rights and procedures for the holder of a security, note, or other legal instrument to take certain actions under the agreement. Typically, this clause outlines what decisions or steps the holder can take, such as enforcing rights, providing notices, or initiating legal proceedings, and may specify any requirements or limitations on such actions. Its core practical function is to clarify the authority and process for the holder to act, thereby reducing ambiguity and ensuring that all parties understand how and when the holder may exercise their rights.
Action by Holder. Unless otherwise expressly provided for herein, any ---------------- action entitled to be taken by Holder owning the Issued Warrant Shares shall require the consent of the holders of at least a majority of the shares of Common Stock issued or issuable to Holder's Affiliates on the date hereof at the time such action is taken.
Action by Holder. At any time there shall be more than one ---------------- Holder, the designation of Holder Designees and the consent of Holder required for actions referred to in this Agreement shall be effected by delivery to the Company of a written instrument designating such Holder Designees or granting (or denying) such consent executed by Holders holding a majority of outstanding Common Stock (calculated giving effect to the full conversion of all 8% Preference Shares held by all Holders) (a "Majority Interest"). Each such ----------------- written instrument shall indicate the number of 8% Preference Shares held by the Holder or Holders executing same and shall contain a certification that such Holders 8% Preference Shares represent a Majority Interest.