Common use of Action by Holder Clause in Contracts

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.

Action by Holder. At any time there shall be more than one ---------------- 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.

Action by Holder. At any time there shall be more than ---------------- one Holder, the designation of Holder Designees and the consent of Holder Holders 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) 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 Holders' 8% Preference Shares represent a Majority Interest."

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 Holders' 8% Preference Shares represent a Majority Interest.