Outstanding Voting Power definition
Examples of Outstanding Voting Power in a sentence
In the event that the Apollo Group Beneficially Owns less than 10% of the Outstanding Voting Power of the Company, any Director or the whole Board may be removed, with or without cause, at any time, by the affirmative vote of holders of 50% of the Voting Power of the Company, given at an annual meeting or at a special meeting of Members called for that purpose.
The provisions of the certificate of incorporation of Micro relating to the Micro Common Shares will not be altered without the consent of a majority of the Outstanding Voting Power held by the Family Stockholders.
With respect to any vote pursuant to Section 2.5, and as of any given date, each Approving Family Stockholder shall be entitled to cast a number of votes equal to (i) the Outstanding Voting Power of all Micro Common Shares owned of record by such Approving Family Stockholder, plus (ii) any voting power attributed to such Approving Family Stockholder under Exhibit A hereto.
In the event that the Investor and its Affiliates are the beneficial owners of Company Voting Securities representing less than 5% of the Outstanding Voting Power, the Investor shall not be entitled to designate any person to serve as a director of the Company.
Except as otherwise provided herein, all actions required to be taken hereunder by the Family Stockholders shall be taken by the holders of a majority of the Outstanding Voting Power held by the Family Stockholders.
So long as the Investor is the beneficial owner of Company Voting Securities representing 10% or more of the Outstanding Voting Power, the Investor shall be entitled to designate two persons to serve as directors of the Company.
So long as the Investor and its Affiliates are the beneficial owners of Company Voting Securities representing 5% or more but less than 10% of the Outstanding Voting Power, the Investor shall be entitled to designate one person to serve as a director of the Company.
If the size of the Board is increased to more than 10 directors, the number of Purchaser Directors will be proportionately increased (rounded to the nearest whole number) to reflect the Purchaser's proportionate percentage ownership of the Company's Outstanding Voting Power.
For all matters other than those set forth in Sections 2.4(a) and 2.4(b), the Purchaser and its Affiliates will vote all Purchaser Voting Securities as follows: (1) shares representing up to 28% of the Outstanding Voting Power may be voted in the discretion of the Purchaser and its Affiliates; and (2) shares representing in excess of 28% of the Outstanding Voting Power will be voted in the same proportion that the Public Shareholders of the Company vote their shares.
So long as ODD and its Affiliates are the beneficial owners of Company Voting Securities representing 5% or more of the Outstanding Voting Power, ODD shall be entitled to designate one person (who shall be reasonably acceptable to the Board of Directors of the Company, it being agreed that Barr▇▇▇ ▇.