Minimum Ownership Requirement definition

Minimum Ownership Requirement means, with respect to (i) any Original Partner, as of any date, that the ratio (expressed as a percentage) of such Original Partner's Percentage Interest to the aggregate Percentage Interests of all Original Partners is at least eight percent (8%) or (ii) any Partner not an Original Partner, as of any date, that such Partner's Percentage Interest is at least eight percent (8%).

Minimum Ownership Requirement for any Purchaser means that such Purchaser continues to beneficially own at all times shares of Series B Convertible Preferred Stock with an aggregate liquidation preference of at least $10 million.

Minimum Ownership Requirement means a beneficial ownership of at least 3% of the Common Stock;

Examples of Minimum Ownership Requirement in a sentence

• Shares of Common Stock that count toward satisfaction of the Minimum Ownership Requirement shall not include (x) shares of Common Stock subject to outstanding stock options, whether exercisable or unexercisable; (y) unearned performance-based vesting restricted Common Stock, restricted stock unit awards or other incentive awards; and (z) warrants and all other forms of derivative securities.

• Each Executive Officer shall certify as to his or her compliance with the Minimum Ownership Requirement during his or her tenure as an Executive Officer of the Company at least once each year (beginning with the year in which these ownership guidelines become applicable to such Executive Officer) in connection with responding to the Company’s annual Director and Officer Questionnaire.

• The Minimum Ownership Requirement may be waived, at the sole discretion of the disinterested members of the Board of Directors of the Company (the “Board”), if compliance would create severe hardship for an Executive Officer, or would violate Section 16(b) of the Securities Exchange Act of 1934, as amended or would prevent the Executive Officer from complying with a court order, as in the case of a divorce settlement.

• The Minimum Ownership Requirement may be waived, at the sole discretion of the disinterested members of the Board, if compliance would create severe hardship for a Non-Employee Director, or would violate Section 16(b) of the Securities Exchange Act of 1934, as amended or would prevent the Non-Employee Director from complying with a court order, as in the case of a divorce settlement.

• Each Non-Employee Director shall certify as to his or her compliance with the Minimum Ownership Requirement during his or her service on the Board of Non-Employee Directors of the Company at least once each year (beginning with the year in which these ownership guidelines become applicable to such Non-Employee Director) in connection with responding to the Company’s annual Director and Officer Questionnaire.

• Once an Executive Officer has achieved his or her Minimum Ownership Requirement, he or she will not be deemednon-compliant with this Policy if the value of his or her qualifying shares (as determined pursuant to Section 2(c) below) decreases below the Minimum Ownership Requirement solely due to a decrease in the closing price per share of Common Stock on the applicable measurement date and not due to a sale or other disposal of Common Stock by the Executive Officer.

• Once a Non-Employee Director has achieved his or her Minimum Ownership Requirement, he or she will not be deemed non-compliant with this Policy if the value of his qualifying shares (as determined pursuant to Section 2(b) below) decreases below the Minimum Ownership Requirement solely due to a decrease in the closing price per share of Common Stock on the applicable measurement date and not due to a sale or other disposal of Common Stock by the Non-Employee Director.

• Notwithstanding the foregoing provisions of this Section 4.b.(1), there shall be no conversion prior to the Termination Date of the shares of Series A Common Stock constituting the Minimum Ownership Requirement.

• Upon the Termination Date, except to the extent otherwise required by applicable regulations of the FCC, as codified or otherwise adopted in decisions or orders of the FCC from time to time, all shares of Series A Common Stock, including the shares constituting the Minimum Ownership Requirement, shall be converted at the applicable Series A Conversion Ratio into fully paid and non-assessable shares of Series B Common Stock.

• Mr. MacGibbon joined the Board on May 26, 2015 and is required to receive his compensation in respect to his services as a Director in DSUs until his Minimum Ownership Requirement is attained.

More Definitions of Minimum Ownership Requirement

Minimum Ownership Requirement means, with respect FV or CMC, as applicable, (a) at any time prior to the Second Completion, at least 90% of the Class C Shares issued to such Person at the First Completion and (b) at any time following the Second Completion, at least 90% of the Class C Shares issued to such Person at both the First Completion and Second Completion; provided, that for purposes of Section 5.3 only, “Minimum Ownership Requirement” shall be defined as provided in Section 5.3.

Minimum Ownership Requirement means, with respect to (i) any Original Partner, as of any date, that the ratio (expressed as a percentage)

Minimum Ownership Requirement. Event shall mean each and every issue, sale, transfer or other disposition, directly or indirectly, of shares of capital stock of Borrower which, after giving effect thereto, results in either: (a) Xxxx X. Xxxxxxxx, his spouse, lineal descendants, spouses of his lineal descendants, his estate, or any trust established primarily for his benefit and/or charitable purposes, legally or beneficially owning or controlling in the aggregate (i) less than 25% (by number of votes) of the Voting Stock of Borrower or (ii) a percentage (by number of votes) of the Voting Stock of Borrower which is not greater than any other individual shareholder; or (b) the Principal Shareholders legally or beneficially owning or controlling in the aggregate less than 30% (by number of votes) of the Voting Stock of Borrower, in each case excluding the effects of dilution due to the exercise of stock options issued under stock option plans allowed by this Agreement. Money Markets shall mean one or more wholesale funding markets available to and selected by a Lender, including negotiable certificates of deposit, commercial paper, eurodollar deposits, bank notes, federal funds, interest rate swaps or others. Moody’s shall mean Xxxxx’x Investors Service, Inc.

Minimum Ownership Requirement means, with respect FV or CMC, as applicable, (a) at any time prior to the Second Completion, at least 90% of the Common C Shares issued to such Person at the First Completion; and (b) at any time following the Second Completion, at least 90% of the Common C C Shares issued to such Person at both the First Completion and Second Completion; provided, that for the purposes of Article 32.11 only, "Minimum Ownership Requirement" shall be defined as provided in Article 32.11.

Minimum Ownership Requirement has the meaning assigned to such term in the fourth paragraph of this Agreement.