Qualifying Ownership Period definition

Qualifying Ownership Period means the period commencing on the Closing Date and ending on the date upon which the Investor or its Affiliates cease to Beneficially Own at least 7% of the voting power of the capital stock of the Company.
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Examples of Qualifying Ownership Period in a sentence

  • This Agreement shall be effective as of the date hereof and shall continue in force and effect until the earlier of (i) the termination of the Purchase Agreement or (ii) the expiration of the Qualifying Ownership Period, at which time this Agreement shall be of no further force or effect.

  • If at any time during the Qualifying Ownership Period an Investor Designee ceases to be considered as an “independent” director, and only if such action would cause the Company to fail to have a majority of independent directors, then the Investor shall designate a Qualified Replacement who qualifies as an “independent director” under applicable law, Nasdaq Stock Market listing standards, and the Company’s Articles of Incorporation.

  • This Agreement shall be effective as of the date hereof and shall continue in force and effect until the expiration of the Qualifying Ownership Period, at which time this Agreement shall be of no further force or effect.

  • If at any time during the Qualifying Ownership Period, the Investor Trustee ceases to be considered as an “independent” trustee under applicable law, NYSE rules, or the Corporate Governance Guidelines of the Company the Company shall provide that the decisions or recommendations of the Board of Trustees requiring unanimous approval from the independent trustees shall also require the approval of the Investor Trustee.

  • During the Qualifying Ownership Period, the Company hereby agrees to take, or cause to be taken, all actions necessary to enable the Investor to appoint one of ▇▇.