Required Shares definition

Required Shares means the total number of shares of Class B Stock actually owned by a Member pursuant to this Capital Plan in the Member’s Membership Stock Account and Activity Stock Account and shall not include any shares of Member Excess Stock or Bank Excess Stock.

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Required Shares means 10,000,000 issued and outstanding shares of common stock in Ocean Rig (including all other or additional stock or other securities or property paid or distributed in respect of the Required Shares by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar arrangements) currently in the legal and beneficial ownership of the Borrower to be pledged in favour of the Security Trustee pursuant to this Clause 15.10 in order to rectify the Shortfall; and

Required Shares means that number of shares of common stock of the corporation that represents at least three percent (3%) of the number of outstanding shares of common stock of the corporation as of both (A) the most recent date for which such amount was given in any filing by the corporation with the Securities and Exchange Commission prior to the start of the three year period ending as of the date the Notice of Proxy Access Nomination is received by the corporation and (B) the most recent date for which such amount was given in any filing by the corporation with the Securities and Exchange Commission prior to the date the Notice of Proxy Access Nomination is provided to the Secretary of the corporation in accordance with Section 1.11(b).

Examples of Required Shares in a sentence

Whenever an Eligible Stockholder consists of a group of stockholders of record and/or beneficial owners, any and all requirements and obligations for an Eligible Stockholder set forth in this Section 2.14 must be satisfied by and as to each such stockholder or beneficial owner, except that shares may be aggregated to meet the Required Shares as provided in this Section 2.14(e).
For the avoidance of doubt, in the event that a Nominating Shareholder consists of a group of Eligible Shareholders, any and all requirements and obligations applicable to an Eligible Shareholder or a Nominating Shareholder set forth in this Section 1.10 shall apply to each member of such group; provided, however, that the Required Shares provision shall apply to such group in the aggregate.
Immediately upon receiving sufficient notices that the Holders or their Affiliates own the Required Shares in the aggregate, the Springing Lien Amount shall be increased to the full outstanding principal amount of the Notes, including the Make-Whole Amount, if applicable, and the Company shall take, or cause to be taken, all appropriate actions required pursuant to Section 4.09.
This Agreement shall automatically terminate upon the earliest of (i) such time as the Investor and its Affiliates, collectively, no longer beneficially own the Required Shares, (ii) the third (3rd) anniversary of the closing of the IPO, and (iii) the consummation of a Liquidation (as defined in the Company’s Amended and Restated Certificate of Incorporation, as in effect on the date hereof).
The Company hereby covenants and agrees that, after the date of this Agreement, so long as any Lead Investor (or its Affiliates) continues to own beneficially the Required Shares, the Company will not increase the size of the Board of Directors without the prior written consent of any Lead Investor who owns beneficially the Required Shares, which consent can be withheld in the sole discretion of the applicable Lead Investors.

More Definitions of Required Shares

Required Shares shall have the meaning set forth in paragraph (i) of Section 11.11. (zz)

Required Shares means at least 3% of the Company’s issued and outstanding common stock as of the most recent date for which such amount is given in any filing made by the Company with the SEC prior to the submission of the Nomination Notice.

Required Shares has the meaning given in Clause 15.10;

Required Shares means at least 75% of the shares of the Series C Preferred purchased by the Investor pursuant to the Purchase Agreement, or such number of shares of Common Stock (whether voting or non-voting) issued upon conversion of such number of shares of Series C Preferred (in either case, as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification or similar transaction).

Required Shares means the greater of (x) at least 8,483,489 shares of Common Stock or (y) at least a majority of the aggregate number of shares of Common Stock outstanding as of the date of delivery of a Springing Event Notice.

Required Shares shall have the meaning ascribed to such term in Section 4.1.

Required Shares means that number of shares of common stock of the Corporation that represents at least three percent (3%) of the number of outstanding shares of common stock of the Corporation