Common use of Voting Proxy Clause in Contracts

Voting Proxy. Each Executive Investor hereby appoints the New Capital Investor as his true and lawful proxy and attorney-in fact, with full power of substitution, to vote all of such Executive Investor's Pledged Shares on all matters to be voted on by the Company's shareholders. These proxies and powers granted by each Executive Investor pursuant to this paragraph 4G are coupled with an interest, and are given to secure each Executive Investor's obligations to the New Capital Investor under this Agreement. Such proxies and powers shall be irrevocable with respect to each such Pledged Share (and shall survive the death, disability, incompetency, or bankruptcy of such Executive Investor) until such time as such Pledged Share becomes Vested Class C Common pursuant to the provisions of this Agreement and thereby ceases to be a Pledged Share, at which time such proxy shall be deemed revoked with respect to such share (but not with respect to any shares of such holder that remain Pledged Shares).

Appears in 3 contracts

Samples: Vesting Agreement (Focal Communications Corp), Vesting Agreement (Focal Communications Corp), Vesting Agreement (Focal Communications Corp)

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Voting Proxy. Each Executive Investor hereby appoints the New ------------ Capital Investor as his true and lawful proxy and attorney-in in-fact, with full power of substitution, to vote all of such Executive Investor's Pledged Shares on all matters to be voted on by the Company's shareholders. These proxies and powers granted by each Executive Investor pursuant to this paragraph 4G are coupled with an interest, and are given to secure each Executive Investor's obligations to the New Capital Investor under this Agreement. Such proxies and powers shall be irrevocable with respect to each such Pledged Share (and shall survive the death, disability, incompetency, or bankruptcy of such Executive Investor) until such time as such Pledged Share becomes Vested Class C Common pursuant to the provisions of this Agreement and thereby ceases to be a Pledged Share, at which time such proxy shall be deemed revoked with respect to such share (but not with respect to any shares of such holder that remain Pledged Shares).

Appears in 1 contract

Samples: Stock Purchase Agreement (Focal Communications Corp)

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