Proportionate Voting Sample Clauses
The Proportionate Voting clause establishes a system where voting power is distributed among parties based on their respective ownership interests or shares. In practice, this means that each party's vote carries weight proportional to their stake in the entity, such as shareholders voting according to the number of shares they hold. This approach ensures that decisions reflect the relative investment or involvement of each party, preventing minority holders from having disproportionate influence and aligning decision-making power with financial or ownership contributions.
Proportionate Voting. Prior to the occurrence of a Liquidity Event, any Original Holder that beneficially owns more than 35% of the then-outstanding Common Shares (excluding Common Shares issuable upon conversion of the Notes) (a "Designated Holder") shall vote (or consent, with respect to written consents) all Common Shares owned by such Original Holder in a manner that is proportionate to the voting of holders of the remaining outstanding Common Shares (e.g., if 60% of the Common Shares (other than the Common Shares held by such Designated Holder) are present at a meeting of shareholders, then 60% of such Designated Holder's Common Shares shall be represented at such meeting, and that percentage of such Designated Holder's Common Shares shall be voted for or against each proposal at such meeting in the same proportion as all Common Shares present at such meeting (other than the Common Shares held by such Designated Holder) are voted at the meeting on such proposal). Each Original Holder hereby grants an irrevocable proxy, coupled with an interest, to the Holder (or its designee) to vote (or consent, with respect to written consents) all Common Shares held by such Original Holder in this manner; provided, however, that such proxy shall be effective only if at the record date for such vote, consent or other action (or if there is no record date, at the date such vote, consent or other action becomes binding), such Original Holder is a Designated Holder.
Proportionate Voting. For purposes of the CVA Governance Committee taking any action related to the business of CVA and the application of standards of professional testing to the NAVLE Examination System, each member of the CVA Governance Committee shall have one (1) vote. A majority vote shall be required to approve any action.