Common use of Shares Held by a Controlled Corporation Clause in Contracts

Shares Held by a Controlled Corporation. No shares held by another corporation, if a majority of the shares entitled to vote for the election of directors of such other corporation are held by the Corporation, shall be voted at any meeting or counted in determining the total number of outstanding shares at any given time for purposes of any meeting. The foregoing provision, however, shall not limit the power of the Corporation to vote any shares, including its own shares, held by it in a fiduciary capacity.