Common use of Quorums Clause in Contracts

Quorums. At any meeting held for the purpose of electing directors, the presence in person or by proxy of the holders of a majority of the aggregate number of shares of the Series B Preferred Stock then outstanding (on an as-if-converted to Common Stock basis), the Series A Preferred Stock and the Common Stock then outstanding shall constitute a quorum for the election of the Directors.

Quorums. At any meeting held for the purpose of electing directors, the presence in person or by proxy of the holders of a majority of the aggregate number of shares of the Series B A Preferred Stock then outstanding (on an as-if-converted to Common Stock basis), the Series A Preferred Stock ) and the Common Stock then outstanding shall constitute a quorum for the election of the Directors.