Common use of Majority Approvals Clause in Contracts

Majority Approvals. The Corporation shall not, directly or indirectly, take any of the actions specified in Article III, Section A.6(c)(v) of the Certificate without the prior written consent or vote of the holders of at least a majority of the voting power (determined as set forth in the third sentence of Section A.6(a) of Article III of the Certificate) of the then outstanding shares of Preferred Stock, voting or consenting together as a single class.

Appears in 3 contracts

Samples: Stockholders' Agreement (Activbiotics Inc), Stockholders' Agreement (Activbiotics Inc), Stockholders' Agreement (Activbiotics Inc)

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Majority Approvals. The Corporation shall not, directly or indirectly, take any of the actions specified in Section A.6(d) of Article III, Section A.6(c)(v) III of the Certificate without the prior written consent or vote of the holders of at least a majority of the voting power (then-outstanding Preferred Stock determined as set forth in the third sentence of accordance with Section A.6(a) of Article III of the Certificate) of the then outstanding shares of Preferred Stock, voting or consenting together as a single class.

Appears in 2 contracts

Samples: Stockholders’ Agreement, Stockholders’ Agreement (Proteostasis Therapeutics, Inc.)

Majority Approvals. The Corporation shall not, directly or indirectly, take any of the actions specified in Article III, Section A.6(c)(vA.6(c) of the Certificate without the prior written consent or vote of the holders of at least a majority of the voting power (determined as set forth in the third sentence of Section A.6(a) of Article III of the Certificate) of the then outstanding shares of Preferred Stock, voting or consenting together as a single class, on a Converted Basis. In addition, the Corporation shall not, directly or indirectly, take any of the actions specified in Article V, Section A.2 of the Certificate without the written approval of the Board, including at least a majority of the Preferred Directors.

Appears in 1 contract

Samples: Stockholders' Agreement (Tolerrx Inc)

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Majority Approvals. The Corporation shall not, directly or indirectly, take any of the actions specified in Article III, Section A.6(c)(vA.6(c)(iv) of the Certificate without the prior written consent or vote of the holders of at least a majority of the voting power (determined as set forth in the third sentence of Section A.6(a) of Article III then outstanding shares of the Certificate) of Series A Preferred Stock and the then outstanding shares of the Series B Preferred Stock, voting or consenting together as a single class.

Appears in 1 contract

Samples: Stockholders' Agreement (Activbiotics Inc)

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