Minimum Ownership Threshold definition

Minimum Ownership Threshold shall have the meaning set forth in Section 4.07(a).

Minimum Ownership Threshold means (A) for purposes of a Multiple Director Nomination Right, the beneficial ownership of at least ten percent (10%) of the then outstanding Common Stock, (B) for purposes of Fundamental Corporate Transaction Approval Right, the beneficial ownership of at least ten percent (10%) of the then outstanding Common Stock, and (C) for purposes of a Single Director Nomination Right, the beneficial ownership of at least five percent (5%) of the then outstanding Common Stock, in each case on a fully diluted basis.

Minimum Ownership Threshold means that Centerbridge and its Affiliates collectively continue to Beneficially Own at least 3,300,000, in aggregate, of Equity Securities comprising either, or a mixture of, (i) Senior Preferred Shares or (ii) Common Shares issued upon conversion of the Senior Preferred Shares, in each case as equitably adjusted for any stock split, reverse stock split, recapitalization or similar event.

Examples of Minimum Ownership Threshold in a sentence

• Until the Minimum Ownership Threshold is no longer met, any action required or permitted to be taken by the stockholders of the Corporation may be effected by the consent in writing of the holders of a majority of the total voting power of the Corporation entitled to vote thereon, voting together as a single class in lieu of a duly called annual or special meeting of stockholders.

• From and after the date that the Minimum Ownership Threshold is no longer met, any action required or permitted to be taken by the stockholders of the Corporation may be effected only at a duly called annual or special meeting of stockholders of the Corporation and may not be effected by any consent in writing by such stockholders.

• From and after the Effective Date for so long as Centerbridge continues to hold at least the Minimum Ownership Threshold, in the event that the Chief Executive Officer or President of the Company, TypTap Insurance Company or Exzeo USA, Inc.

• For the avoidance of doubt, so long as the Minimum Ownership Threshold is satisfied, the Company shall have no right to terminate the Executive without Cause under this Agreement.

• For purposes of this Agreement, a “Resignation Event” means, regardless of actual resignation, if the Investors fail to satisfy the Minimum Ownership Threshold at any time after the date of this Agreement.

More Definitions of Minimum Ownership Threshold

Minimum Ownership Threshold means collective beneficial ownership (as determined under Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) of the lesser of (i) 187,500 shares of Common Stock (subject to proportionate adjustment in the event of splits, combinations or reclassifications) or (ii) a number of Common Shares or shares or rights convertible or exercisable into Common Shares, including the Warrants (whether or not presently convertible or exercisable) that, in the aggregate, are convertible or exercisable into and/or equal at least 4.25% of the then-outstanding Common Stock (on an as-converted and as-exercised basis).

Minimum Ownership Threshold means, at any time, 9.0% of the issued and outstanding shares of Company Common Stock as of such time (as equitably adjusted for any stock split, reverse stock split, recapitalization or similar event with respect to the Company Common Stock).

Minimum Ownership Threshold means aggregate ownership, beneficially and/or of record, of at least 10% of the then outstanding number of Pre-Funded Warrants (computed on the basis that all are converted or exercised pursuant to their terms and without reference to any prohibition against exercise or conversion set forth therein) and the number of shares of Common Stock.

Minimum Ownership Threshold means that the GP Parties hold, in the aggregate, directly or indirectly, more than 10.0% of the then outstanding Voting Securities;

Minimum Ownership Threshold means 10% of the then outstanding Voting Securities.

Minimum Ownership Threshold means, as of any date, collective Beneficial Ownership by H.I.G. Group of shares of Company Common Stock representing at least 30% of the Series A Preferred Stock of the Company originally issued to Purchaser pursuant to this Agreement.

Minimum Ownership Threshold means an aggregate Net Long Position of the lesser of 7.5% of the outstanding shares of Common Stock and 718,657 shares of Common Stock.