Common use of Voting Obligations Clause in Contracts

Voting Obligations. Subject to the satisfaction (or waiver in writing by the applicable Stockholders) of each of the conditions set forth in Section 2.2, and, so long as no default has occurred and is continuing under any of the Repos, each Stockholder shall: (a) instruct (and use reasonable efforts to employ any rights it has under the Repos to cause) the holders of record of any applicable Subject Shares on any applicable record date (the "Record Holder") to appear, in person or by proxy, so that all the applicable Subject Shares are counted for the purpose of obtaining a quorum at a meeting of shareholders of the Company (currently contemplated to be the Company's annual meeting of shareholders for the year 2002), and at any adjournment or adjournments thereof, at which (i) a proposal to approve and adopt the Amendment to Restated Certificate of Incorporation of the Company attached hereto as Attachment 1 (the "Charter Amendments"), (ii) a proposal to approve (t) the issuance of the Initial Notes under the Note Purchase Agreement, (u) the issuance of PIK Notes or Applicable Shares as interest on the Notes in accordance with the terms of the Notes, (v) the issuance of any shares of capital stock of the Company pursuant to the conversion of the Notes or the conversion or redemption of the Applicable Shares in accordance their respective terms, (w) the issuance of Class A Common Stock pursuant to the conversion of Class B Common Stock in accordance with its terms (x) the issuance of capital stock of the Company as dividends on the Series F Preferred Stock and the Series B Preferred Stock in accordance with the terms of such securities, (y) the adjustment of the conversion price of the Notes pursuant to the anti-dilution provisions of the Notes, in the case of each of clauses (t) through (y), in accordance with the terms contemplated by the Note Purchase Agreement and the Notes, and (z) any other term or provision of the Note Purchase Agreement, Notes, Charter Amendments, Certificate of Designation that would require shareholder approval under Rule 4350 of the Marketplace Rules of the Nasdaq Stock Market to be effective and (iii) the filing of a Certificate of Elimination in respect of the Series F Preferred Stock after the filing of the Charter Amendments (the matters described in the foregoing clauses, (i) through (iii), the "Covered Matters") and (b) instruct (and use reasonable efforts to employ any rights it has under the Repos to cause) the Record Holder to vote, in person or by proxy, all of such Stockholder's Subject Shares in favor of each of the Covered Matters (it being understood by the parties hereto that, in accordance with the terms of the Repos, the Stockholders will require at least eight (8) Business Days' notice to the vote on any Covered Matter in order to so instruct the Record Holders of the Shares with respect to any action, document, meeting or vote contemplated by clauses (a) and (b) of this Section 2.1). In the event that any Subject Shares of any Stockholder are not subject to a Repo, subject to the satisfaction (or waiver in writing by such Stockholder) of each of the conditions set forth in Section 2.2, such Stockholder agrees to appear, in person or by proxy, with and vote such Subject Shares as provided above.

Appears in 2 contracts

Samples: Voting Agreement (America Online Latin America Inc), Voting Agreement (Aol Time Warner Inc)

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Voting Obligations. Subject 3.1 THE MANUFACTURERS' VOTING OBLIGATIONS (a) During the Standstill Period for each Manufacturer, such Manufacturer shall take such action as may be required so that all shares of Voting Stock Beneficially Owned by such Manufacturer are voted for or cast in favor of: (i) nominees to the satisfaction Board of Directors of the Company in accordance with the recommendations of a majority of the Board of Directors of the Company, and (or waiver ii) increases in writing the authorized capital stock of the Company and amendments to stock option plans and employee stock purchase plans, in each case approved by the applicable StockholdersCompany's Board of Directors. (b) of each Until the tenth anniversary of the conditions date of this Agreement, (i) at any time that Ford Beneficially Owns at least 2.5% of the Total Current Voting Power of the Company, Ford agrees not to exercise any dissenter's rights, if any, that it may have under applicable law in connection with any merger, consolidation or other reorganization which is approved by the Company's Board of Directors and which is intended to qualify as a "pooling-of-interests" for financial accounting purposes and, solely in connection with any such pooling-of-interests transaction, Ford hereby covenants to enter into a standard affiliate lock-up agreement if requested by the Company (PROVIDED, HOWEVER, that all other persons required to be subject to similar limitations enter into such agreements), regardless of the manner in which Ford may have voted or cast Shares of Voting Stock Beneficially Owned by Ford with respect to such transaction; and (ii) at any time that GM Beneficially Owns at least 2.5% of the Total Current Voting Power of the Company, GM agrees not to exercise any dissenter's rights, if any, that it may have under applicable law in connection with any merger, consolidation or other reorganization which is approved by the Company's Board of Directors and which is intended to qualify as a "pooling-of-interests" for financial accounting purposes and, solely in connection with any such pooling-of-interests transaction, GM hereby covenants to enter into a standard affiliate lock-up agreement if requested by the Company (PROVIDED, HOWEVER, that all other persons required to be subject to similar limitations enter into such agreements), regardless of the manner in which GM may have voted or cast Shares of Voting Stock Beneficially Owned by GM with respect to such transaction. (c) Except as set forth in Section 2.2, and, so long as no default has occurred and is continuing under any of the Repos, each Stockholder shall: paragraphs (a) instruct and (and use reasonable efforts b) above, nothing in this Agreement shall preclude either Manufacturer from voting shares of Voting Stock which it Beneficially Owns in such manner as such Manufacturer determines, in its sole discretion, on any matter presented to employ any rights it has under the Repos to cause) the holders of record Voting Stock for a vote, consent or other approval. (d) So long as a Manufacturer Beneficially Owns at least 2.5% of any applicable Subject Shares on any applicable record date (the "Record Holder") to appearTotal Current Voting Power of the Company, such Manufacturer, as the holder of Shares, shall be present, in person or by proxy, at all meetings of stockholders of the Company so that all the applicable Subject Shares are shares of Voting Stock held by such Manufacturer may be counted for purposes of determining the purpose presence of obtaining a quorum at a meeting of shareholders of the Company (currently contemplated to be the Company's annual meeting of shareholders for the year 2002), and at any adjournment or adjournments thereof, at which (i) a proposal to approve and adopt the Amendment to Restated Certificate of Incorporation of the Company attached hereto as Attachment 1 (the "Charter Amendments"), (ii) a proposal to approve (t) the issuance of the Initial Notes under the Note Purchase Agreement, (u) the issuance of PIK Notes or Applicable Shares as interest on the Notes in accordance with the terms of the Notes, (v) the issuance of any shares of capital stock of the Company pursuant to the conversion of the Notes or the conversion or redemption of the Applicable Shares in accordance their respective terms, (w) the issuance of Class A Common Stock pursuant to the conversion of Class B Common Stock in accordance with its terms (x) the issuance of capital stock of the Company as dividends on the Series F Preferred Stock and the Series B Preferred Stock in accordance with the terms of such securities, (y) the adjustment of the conversion price of the Notes pursuant to the anti-dilution provisions of the Notes, in the case of each of clauses (t) through (y), in accordance with the terms contemplated by the Note Purchase Agreement and the Notes, and (z) any other term or provision of the Note Purchase Agreement, Notes, Charter Amendments, Certificate of Designation that would require shareholder approval under Rule 4350 of the Marketplace Rules of the Nasdaq Stock Market to be effective and (iii) the filing of a Certificate of Elimination in respect of the Series F Preferred Stock after the filing of the Charter Amendments (the matters described in the foregoing clauses, (i) through (iii), the "Covered Matters") and (b) instruct (and use reasonable efforts to employ any rights it has under the Repos to cause) the Record Holder to vote, in person or by proxy, all of such Stockholder's Subject Shares in favor of each of the Covered Matters (it being understood by the parties hereto that, in accordance with the terms of the Repos, the Stockholders will require at least eight (8) Business Days' notice to the vote on any Covered Matter in order to so instruct the Record Holders of the Shares with respect to any action, document, meeting or vote contemplated by clauses (a) and (b) of this Section 2.1). In the event that any Subject Shares of any Stockholder are not subject to a Repo, subject to the satisfaction (or waiver in writing by such Stockholder) of each of the conditions set forth in Section 2.2, such Stockholder agrees to appear, in person or by proxy, with and vote such Subject Shares as provided abovemeetings.

Appears in 2 contracts

Samples: Standstill and Stock Restriction Agreement (Commerce One Inc), Standstill and Stock Restriction Agreement (Commerce One Inc)

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Voting Obligations. Subject to the satisfaction (or waiver in writing by the applicable Stockholderswriting) of each of the conditions set forth in Section 2.2, and, so long as no default has occurred and is continuing under any of the Repos, each Stockholder shall: (a) instruct (and use reasonable efforts to employ appear, in person or by proxy, or cause any rights it has under the Repos to cause) the holders other holder of record of any applicable Subject Shares owned beneficially by such Stockholder on any applicable record date (the "Record Holder") to appear, in person or by proxy, so that all the applicable Subject Shares are counted for the purpose of obtaining a quorum at a meeting of shareholders stockholders of the Company (currently contemplated to be the Company's annual meeting of shareholders stockholders for the year 2002), and at any adjournment or adjournments thereof, at which (i) a proposal to approve and adopt the Amendment to Restated Certificate of Incorporation of the Company attached hereto as Attachment 1 (the "Charter Amendments"), (ii) a proposal to approve (t) the issuance of the Initial Notes under the Note Purchase Agreement, (u) the issuance of PIK Notes or Applicable Shares as interest on the Notes in accordance with the terms of the Notes, (v) the issuance of any shares of capital stock of the Company pursuant to the conversion of the Notes or the conversion or redemption of the Applicable Shares in accordance their respective terms, (w) the issuance of Class A Common Stock pursuant to the conversion of Class B Common Stock in accordance with its terms (x) the issuance of capital stock of the Company as dividends on the Series F Preferred Stock and the Series B Preferred Stock in accordance with the terms of such securities, (y) the adjustment of the conversion price of the Notes pursuant to the anti-dilution provisions of the Notes, in the case of each of clauses (t) through (y), in accordance with the terms contemplated by the Note Purchase Agreement and the Notes, and (z) any other term or provision of the Note Purchase Agreement, Notes, Charter Amendments, Certificate of Designation that would require shareholder approval under Rule 4350 of the Marketplace Rules of the Nasdaq Stock Market to be effective and (iii) the filing of a Certificate of Elimination in respect of the Series F Preferred Stock after the filing of the Charter Amendments and (iv) any proposal which is necessary under any foreign, federal, state or local statute or any rule or regulation of any Governmental Authority or national securities exchange to carry into effect the purpose and intent of the Note Purchase Agreement (the matters described in the foregoing clauses, (i) through (iiiiv), the "Covered Matters") and (b) instruct (and use reasonable efforts to employ any rights it has under the Repos to cause) vote, or cause the Record Holder to vote, in person or by proxy, all of such Stockholder's Subject Shares in favor of each of the Covered Matters (it being understood by Matters. Each Stockholder shall also vote against, and cause the parties hereto thatRecord Holder to vote against, and refrain, and cause the Record Holder to refrain, from executing and delivering written consents in accordance favor of, any proposal which is contrary to or inconsistent with the terms of the Repos, the Stockholders will require at least eight (8) Business Days' notice to the vote on any Covered Matter in order to so instruct the Record Holders of the Shares with respect to any action, document, meeting or vote contemplated by clauses (a) and (b) of this Section 2.1). In the event that any Subject Shares of any Stockholder are not subject to a Repo, subject to the satisfaction (or waiver in writing by such Stockholder) of each of the conditions set forth in Section 2.2, such Stockholder agrees to appear, in person or by proxy, with and vote such Subject Shares as provided aboveMatter.

Appears in 1 contract

Samples: Voting Agreement (Aol Time Warner Inc)

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