Common use of Voting and Equity Clause in Contracts

Voting and Equity. Notwithstanding anything to the contrary in this Agreement, the Investor together with its Affiliates shall not have the ability to exercise any voting rights of any Securities in excess of 9.9% of the total outstanding Voting Securities of the Company unless the Investor has made all the required filings and received all the required approvals contemplated by Section 3.1(a), and shall not acquire any equity in the Company in excess of 24.9% of the total outstanding equity of the Company (or, if the Investor and its Affiliates in the aggregate own less than 15% of any class of voting securities of the Company, 33% of the total outstanding equity of the Company) unless the Investor has received all the required approvals contemplated by Section 3.1(a).

Appears in 3 contracts

Samples: Investment Agreement (Coastal Financial Corp), Investment Agreement (Coastal Financial Corp), Investment Agreement (Coastal Financial Corp)

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Voting and Equity. Notwithstanding anything to the contrary in this Agreement, the Investor together with its Affiliates shall not have the ability to exercise any voting rights of any Securities in excess of 9.924.9% of the total outstanding Voting Securities of the Company unless the Investor has made all the required filings and received all the required approvals contemplated by Section 3.1(a), and shall not acquire any equity in the Company in excess of 24.9% of the total outstanding equity of the Company (or, if the Investor and its Affiliates in the aggregate own less than 15% of any class of voting securities of the Company, 33% of the total outstanding equity of the Company) unless the Investor has received all the required approvals contemplated by Section 3.1(a).

Appears in 1 contract

Samples: Investment Agreement (Coastal Financial Corp)

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