Calculation of Majority Clause Samples
The 'Calculation of Majority' clause defines how a majority is determined for decision-making purposes within an agreement or organization. Typically, this clause specifies whether a majority is based on the number of individuals, shares, or votes present, and may outline if it refers to a simple majority or a specific percentage threshold. By clearly establishing the method for calculating a majority, this clause ensures transparency and prevents disputes over the validity of decisions made by a group.
Calculation of Majority. For purposes of determining whether the Holders of a majority of the Registrable Securities have taken action pursuant thereto, any Warrants then outstanding shall be deemed to have been converted into Underlying Common Stock which shares shall be treated as outstanding for purposes hereof.
Calculation of Majority. For purposes of determining whether the Holders of a majority of the Registrable Securities have taken action pursuant thereto, any Preferred Shares then outstanding shall be deemed to have been converted into Underlying Common Shares, which shares shall be treated as outstanding for purposes hereof.
Calculation of Majority. For purposes of determining whether the Holders of a majority of the Registrable Securities have taken action pursuant thereto, any Promissory Notes then outstanding shall be deemed to have been converted into Conversion Shares, which shares shall be treated as outstanding for purposes hereof.