WAIVER OF OWNERSHIP LIMIT. Pursuant to Section (C)(4) of Article IV of the Certificate of Incorporation and provided that the representations and warranties in Section 5.06 remain true and accurate, the Company and its Board hereby waive the Ownership Limit applicable to Purchaser so long as Purchaser's Beneficial Ownership of shares of Common Stock shall at no time exceed 42% of the total number of shares of Common Stock (for the purposes of this Section 4.11, Ownership Limit and Beneficial Ownership shall have the meaning, as the case may be, as defined in the Company's Certificate of Incorporation).
Appears in 7 contracts
Samples: Stock Purchase Agreement (Shelbourne Properties I Inc), Stock Purchase Agreement (Ashner Michael L), Stock Purchase Agreement (Ashner Michael L)
