Examples of Founding Parties in a sentence
Subject to the Memorandum and Articles, the number of shareholders necessary to constitute a quorum at any annual or extraordinary general meeting shall be the shareholders representing more than fifty percent (50%) of the Ordinary Shares (calculated on an as-converted basis) issued and outstanding of the Company (including Majority Preferred Shareholders and Majority Founding Parties).
Unless otherwise provided by law or the Articles, shareholders representing more than fifty percent (50%) of the Ordinary Shares (calculated on an as-converted basis) issued and outstanding of the Company (including Majority Preferred Shareholders and Majority Founding Parties), present in person or represented by proxy, shall constitute a quorum at a meeting of Shareholders.
Only Class B Ordinary Shares currently held by the Founding Parties enjoy ten votes for every Class B Ordinary Share on a poll.
If no notice of withdrawal (whether by e-mail, telephone or facsimile (in each case, with a confirmatory notice sent by an internationally recognized overnight courier service) is received by the Founding Parties prior to the expiration of the Withdrawal Period, McGraw Hill shall be deemed to have waived its right of withdrawal.
Notwithstanding the above, and exclusively for the purposes of deciding the Price to be offered by the Operating Company in the Auction, all the other Founding Parties and Additional Partners will be represented by one additional member of the Steering Committee jointly appointed by Xera, Goldenegg and e.Planet.
The Company, Simtek and Founders acknowledge that, subject to Simtek’s approval, the Company and Simtek may jointly seek separate funding uniquely for the Company from potential joint venture strategic or financial partners and that the percentage interest in the Company of the Founding Parties will be diluted pro rata in accordance with terms to be negotiated by the Founding Parties and any potential partners at the time of said financing.