CONTROL OF MANAGER. 5.1 Unless expressly permitted by a majority of the Independent Directors, during the term of the Management Agreement, the Coustas Entities will at all times, directly or indirectly, collectively (a) own at least 80% of the outstanding capital stock of the Manager and (b) hold at least 80% of the voting power of the outstanding capital stock of the Manager, considered for this purpose as a single class.
Appears in 6 contracts
Samples: Management Agreement (Danaos Corp), Restrictive Covenant Agreement (Danaos Corp), Restrictive Covenant Agreement (Danaos Corp)
