Voting Shares Vote definition

Voting Shares Vote means a vote taken by the Board pursuant to Section 4.12.2 that is based on the voting shares of each Party described in Section 1.1.23 and set forth in Exhibit C to this Agreement. A Voting Shares vote cannot take place on a matter unless the matter first receives an affirmative or tie Percentage Vote in the manner required by Section

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Voting Shares Vote as defined in Section 1.1.22). To approve an action by a Voting Shares Vote, the corresponding voting shares (as defined in Section 1.1.23 and Exhibit C) of all Directors voting in the affirmative shall exceed 50% of the voting share of all Directors on the entire Board, or such other higher voting shares percentage expressly required by this Agreement or the Operating Rules

Examples of Voting Shares Vote in a sentence

No action may be taken solely by a Voting Shares Vote without first having taken an Equal Vote.
If the underlying Equal Vote was a tie, the Voting Shares Vote replaces that tie vote.
If the Voting Shares Vote succeeds, the legal effect is to nullify the Equal Vote with respect to which the Voting Shares Vote was taken.
Notwithstanding the foregoing, in the event of a tie in a percentage vote, the Board can break the tie and act upon an affirmative voting shares vote as described in section 4.10.2 (Voting Shares Vote).
If a Voting Shares Vote for reconsideration fails, the legal effect is to affirm the Equal Vote with respect to which the Voting Shares Vote was taken.
This Agreement may be terminated with respect to a Party for material non-compliance with provisions of this Agreement or Authority documents upon a two-thirds vote of the Board in which the minimum Equal Vote or Voting Shares Vote, as applicable in Section 4.11 (Board Voting) of this Agreement, shall be no less than two-thirds vote excluding the vote and voting shares of the Party subject to possible termination.
Notwithstanding the foregoing, in the event of a tie in the Percentage Vote, an action may be approved on an affirmative Voting Shares Vote.
Approval of a proposed action by a Voting Shares Vote to reconsider an Equal Vote action shall require the affirmative vote of Directors representing a two-thirds supermajority (66.7%) of the “Voting Shares” cast.
All votes taken pursuant to this subsection 3.9.2 shall be referred to as a “Voting Shares Vote.” If a Voting Shares Vote yields a “no” vote, the legal effect is to affirm the Equal Vote with respect to which the Voting Shares Vote was taken.
When a voting shares vote is held, action by the Board requires both an affirmative Percentage Vote and an affirmative Voting Shares Vote.

More Definitions of Voting Shares Vote

Voting Shares Vote as defined in Section 1.1.21). To approve an action by a Voting Shares Vote, the corresponding voting shares (as defined in Section 1.1.22 and Exhibit C) of all Directors voting in the affirmative shall exceed 50% of the voting share of all Directors on the entire Board, or such other higher voting shares percentage expressly required by this Agreement or the Operating Rules and Regulations. In the event that any one Director has a voting share that equals or exceeds that which is necessary to disapprove the matter being voted on by the Board, at least one other Director shall be required to vote in the negative in order to disapprove such matter. When a voting shares vote is held, action by the Board requires both an affirmative Percentage Vote and an affirmative Voting Shares Vote. Notwithstanding the foregoing, in the event of a tie in the Percentage Vote, an action may be approved on an affirmative Voting Shares Vote. When a supermajority vote is required by this Agreement or the Operating Rules and Regulations, the supermajority vote is subject to the Voting Share Vote provisions of this Section 4.11.2, and the specified supermajority of all Voting Shares is required for approval of the action, if the provision of this Section 4.11.2 are triggered.

Voting Shares Vote as defined iin Section 1.1.21). To approve an action by a Voting Shares Votevote of the voting shares, In such event,the corresponding voting shares (as described defined in Section 1.1.22 and Exhibit C) of all Directors voting in the affirmative shall exceed 50% of the voting share of all Direcctors on the entire Board, or such other higher voting shares percentage expressly required by this Agreement or the Operating Rules and Regulations, of the voting shares of all Directors on the entire Board. All votes taken pursuant to this Section 4.110.2 shall be referred to as a voting shares vote. In the event that any one Director has a voting share that equals or exceeds that which is necessary to disapprove the matter being voted on by the Board, at least one other Director shall be required to vote in the negative in order to disapprove such matter. When a voting shares vote is held, action by the Board requires both an affirmative Ppercentage Vvote and an affirmative voting shares vote. Notwithstanding the foregoing, in the event of a tie in the pPercentage Vvote, an action may be approved proceed solely on an affirmative Vvoting Sshares Vvote. When a supermajority vote is required by this Agreement or the Operating Rules and Regulations, the supermajority vote isit is subject to the Vvoting Sshare Vvote provisions of this Section 4.11.2, and the specified supermajority of all Vvoting Sshares is required for approval of the action, if the provision of this Section 4.11.2 are triggered.

Voting Shares Vote means a vote taken by the Board pursuant to Section 4.9.2 that is based on the voting shares of each Party described in Section 4.9.3 and set forth in Exhibit D to this Agreement. A voting shares vote cannot take place on a matter unless the matter first receives an affirmative percentage vote in the manner required by Section 4.9.1 and two or more Directors immediately thereafter request such vote. Town of Los Altos Hills Town of Los Gatos City of Monte Sereno City of ▇▇▇▇▇▇ ▇▇▇▇ City of ▇▇▇▇▇▇▇▇ ▇▇▇▇ This Exhibit C is effective as of March 31, 2016. Campbell 208,827,224 Cupertino 243,359,722 Gilroy 296,992,863 Los Altos 142,219,276 Los Altos Hills 42,576,999 Los Gatos 196,007,285 Monte Sereno 7,939,338 ▇▇▇▇▇▇ ▇▇▇▇ 232,520,509 Mountain View 664,209,464 Santa ▇▇▇▇▇ County (Unincorporated) 397,902,304 Saratoga 131,604,010 Sunnyvale 1,407,826,241 *Data provided by PG&E This Exhibit D is effective as of March 31, 2016. Section 4.9.2 ▇▇▇▇▇▇▇▇ 208,827,224 5.3% Cupertino 243,359,722 6.1% Gilroy 296,992,863 7.5% Los Altos 142,219,276 3.6% Los Altos Hills 42,576,999 1.1% Los Gatos 196,007,285 4.9% Monte Sereno 7,939,338 0.2% ▇▇▇▇▇▇ ▇▇▇▇ 232,520,509 5.9% Mountain View 664,209,464 16.7% Santa ▇▇▇▇▇ County (Unincorporated) 397,902,304 10.0% Saratoga 131,604,010 3.3% Sunnyvale 1,407,826,241 35.4% *Data provided by PG&E