Common use of Actions Requiring Purchaser Approval Clause in Contracts

Actions Requiring Purchaser Approval. The Company shall not, and no officer of the Company shall have the power or authority to cause the Company to, without the consent of a Purchaser Majority: (a) redeem, repurchase or otherwise acquire shares of the Company's capital stock except pursuant to or in connection with (i) the conversion of any class or series of the Company's capital stock into another security of the Company, (ii) the exercise of any Right, (iii) the redemption, at the request of the holder thereof, of shares of any class or series of capital stock that is redeemable at the option of the holder thereof, (iv) any compensatory plan or arrangement with an officer, director or employee of the Company or its Subsidiaries; provided, however, that such plan or arrangement has been approved by the Board or the Compensation Committee thereof; or (b) take any voluntary action in furtherance of the liquidation, dissolution or winding up of the business of the Company.