Examples of Voting Party in a sentence
For purposes of this Agreement, the term “Shares” shall mean and include any securities of the Company that the holders of which are entitled to vote for members of the Board, including without limitation, the Xxxxxxx Shares, by whatever name called, now owned or subsequently acquired by a Voting Party, however acquired, whether through stock splits, stock dividends, reclassifications, recapitalizations, similar events or otherwise.
Each Voting Party shall use its best efforts to cause its Successor Transferees to comply with the terms of this Agreement with respect to all Shares held by such Successor Transferee, however acquired.
Shares “held” by a Voting Party shall mean any Shares directly or indirectly owned (of record or beneficially) by such Voting Party or as to which such Voting Party has voting power.
Notwithstanding anything to the contrary contained herein, in no event may the Guarantor take any action as Voting Party hereunder, including, but not limited to, with respect to granting consent to any amendment of or waiver under this Agreement or the other Basic Documents, if such action would be materially adverse to any Creditor, unless each Creditor so affected shall have consented to such action.
No Voting Party, nor any Affiliate of any Voting Party, shall have any liability as a result of designating a person for election as a director for any act or omission by such designated person in his or her capacity as a director of the Company, nor shall any Voting Party have any liability as a result of voting for any such designee in accordance with the provisions of this Agreement.