Increase or Decrease in Aggregate Share Ownership and Common Share Ownership Limits. Subject to Section 6.1.1(a)(ii) and this Section 6.1.8, the Board of Directors may from time to time increase or decrease the Common Share Ownership Limit and the Aggregate Share Ownership Limit for one or more Persons and increase or decrease the Common Share Ownership Limit and the Aggregate Share Ownership Limit for all other Persons. No decreased Common Share Ownership Limit or Aggregate Share Ownership Limit will be effective for any Person whose percentage ownership of Shares is in excess of such decreased Common Share Ownership Limit or Aggregate Share Ownership Limit until such time as such Person's percentage of Shares equals or falls below the decreased Common Share Ownership Limit or Aggregate Share Ownership Limit, as applicable; provided, however, any further acquisition of Shares (other than by a Person for whom an exemption has been granted pursuant to Section 6.1.7(a) or an Excepted Holder) in excess of such percentage ownership of Shares owned by such person on the date the decreased Common Share Ownership Limit or Aggregate Share Ownership Limit, as applicable, became effective will be in violation of the Common Share Ownership Limit or Aggregate Share Ownership Limit. No increase to the Common Share Ownership Limit or Aggregate Share Ownership Limit may be approved if the new Common Share Ownership Limit and/or Aggregate Share Ownership Limit would allow five or fewer Persons to Beneficially Own, in the aggregate, more than 49.9% in value of the outstanding Shares.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (MVP REIT II, Inc.), Agreement and Plan of Merger (MVP REIT, Inc.)
Increase or Decrease in Aggregate Share Ownership and Common Share Ownership Limits. Subject to Section 6.1.1(a)(ii) and this Section 6.1.8), the Board of Directors may from time to time increase or decrease the Common Share Ownership Limit and the Aggregate Share Ownership Limit for one or more Persons and increase or decrease the Common Share Ownership Limit and the Aggregate Share Ownership Limit for all other Persons. No ; provided, however, that the decreased Common Share Ownership Limit or and/or Aggregate Share Ownership Limit will not be effective for any Person whose percentage ownership of in Shares is in excess of such decreased Common Share Ownership Limit or and/or Aggregate Share Ownership Limit until such time as such Person's ’s percentage of Shares equals or falls below the decreased Common Share Ownership Limit or and/or Aggregate Share Ownership Limit, as applicable; provided, however, but any further acquisition of Shares (other than by a Person for whom an exemption has been granted pursuant to Section 6.1.7(a) or an Excepted Holder) in excess of such percentage ownership of Shares owned by such person on the date the decreased Common Share Ownership Limit or Aggregate Share Ownership Limit, as applicable, became effective will be in violation of the Common Share Ownership Limit or Aggregate Share Ownership Limit. No increase to the Common Share Ownership Limit or and/or Aggregate Share Ownership Limit may be approved if and, provided further, that the new Common Share Ownership Limit and/or Aggregate Share Ownership Limit would not allow five or fewer Persons to Beneficially Own, in the aggregate, Own more than 49.9% in value of the outstanding Shares.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Carey Watermark Investors 2 Inc)
Increase or Decrease in Aggregate Share Ownership and Common Share Ownership Limits. Subject to Section 6.1.1(a)(ii) and this Section 6.1.87.1.2(a)(ii), the Board of Directors may from time to time increase or decrease the Common Share Ownership Limit and the Aggregate Share Ownership Limit for one or more Persons and increase or decrease the Common Share Ownership Limit and the Aggregate Share Ownership Limit for all other Persons. No ; provided, however, that the decreased Common Share Ownership Limit or and/or Aggregate Share Ownership Limit will not be effective for any Person whose percentage ownership of in Shares is in excess of such decreased Common Share Ownership Limit or and/or Aggregate Share Ownership Limit until such time as such Person's ’s percentage of Shares equals or falls below the decreased Common Share Ownership Limit or and/or Aggregate Share Ownership Limit, as applicable; provided, however, but any further acquisition of Shares (other than by a Person for whom an exemption has been granted pursuant to Section 6.1.7(a) or an Excepted Holder) in excess of such percentage ownership of Shares owned by such person on the date the decreased Common Share Ownership Limit or Aggregate Share Ownership Limit, as applicable, became effective will be in violation of the Common Share Ownership Limit or Aggregate Share Ownership Limit. No increase to the Common Share Ownership Limit or and/or Aggregate Share Ownership Limit may be approved if and, provided further, that the new Common Share Ownership Limit and/or Aggregate Share Ownership Limit would not allow five or fewer Persons to Beneficially Own, in the aggregate, Own more than 49.9% in value of the outstanding Shares.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Cole Credit Property Trust III, Inc.)
