Excepted Holder Limit. The term "Excepted Holder Limit" shall mean, provided that the affected Excepted Holder agrees to comply with the requirements established by the Trustees pursuant to Section 2.7 of this Article V, the percentage limit established by the Trustees pursuant to Section 2.7 of this Article V.
Excepted Holder Limit. The term “Excepted Holder Limit” shall mean, provided that the affected Excepted Holder agrees to comply with the requirements established by the Board of Directors pursuant to subparagraph (b)(7) of this Article NINTH and subject to adjustment pursuant to subparagraph (b)(8) of this Article NINTH, the percentage limit established by the Board of Directors pursuant to subparagraph (b)(7) of this Article NINTH.
Excepted Holder Limit. In accordance with the amended and restated certificate of incorporation of Parent (the “Parent Charter”), the board of directors of Parent has (i) exempted the Company from the Aggregate Stock Ownership Limit and the Common Stock Ownership Limit, (ii) deemed the Company an Excepted Holder, and (iii) established an Excepted Holder Limit (as defined in the Parent Charter) for the Company of 18% in each case in accordance with and subject to the terms and conditions of, the resolutions adopted by the Board of Directors of Parent, the relevant excerpt of which has been previously provided to the Company by Parent. Capitalized terms used but not defined in this Section 5.15 shall have the meaning ascribed to such terms in the Parent Charter.
Excepted Holder Limit. The term “Excepted Holder Limit” shall mean for each Excepted Holder, the percentage limit established by the Board of Directors for such Excepted Holder pursuant to Section 6.2.7, which limit may be expressed, in the discretion of the Board of Directors, as one or more percentages and/or numbers of shares of Capital Stock, and may apply with respect to one or more classes of Capital Stock or to all classes of Capital Stock in the aggregate, provided that the affected Excepted Holder agrees to comply with the requirements
Excepted Holder Limit. The Warburg Entities own 40,941,117 shares of the Company’s Class A common stock, and hold currently exerciseable warrants to acquire an additional 6,361,383 shares of the Company’s Class A common stock. The Company hereby establishes 47,302,501 shares of Class A common stock as the “Excepted Holder Limit” for the Warburg Entities (as that term is defined in the Company’s Charter), and the Warburg Entities agree (on behalf of themselves and their Affiliates) not to acquire any additional securities of the Company (whether directly or indirectly) unless such acquisition (or the ownership of Capital Stock resulting from such acquisition) is in compliance with the FCC neutrality requirements applicable to the Company. The Company agrees that, except to the extent that it would be consistent with the FCC neutrality requirements applicable to the Company or otherwise approved by the FCC, it will not enter into any transaction that would have the effect of increasing the Warburg Entities’ collective percentage equity interest in the Company. The Company agrees that it will not change the Excepted Holder Limit for the Warburg Entities, as set forth in this Section 2, without the prior written consent of the Warburg Entities, except to the extent that an upward adjustment is necessary to effect a stock split or stock dividend in respect of the Company’s outstanding shares of Class A common stock.
Excepted Holder Limit. The term “Excepted Holder Limit” shall mean (i) with respect to any Excepted Holder who is an Excepted Holder by virtue of clause (i) of the definition of Excepted Holder above, a percentage equal to the percentage of the outstanding shares of Common Stock Beneficially Owned and/or Constructively Owned, as applicable, by such Excepted Holder as of the Initial Date, which percentage will be subject to adjustment pursuant to Section 4.2(h), and (ii) with respect to any other Excepted Holder, provided that the affected Excepted Holder agrees to comply with the requirements established by the Board of Directors pursuant to Section 4.2(g), the percentage limit established for such Excepted Holder by the Board of Directors pursuant to Section 4.2(g), which percentage will be subject to adjustment pursuant to Section 4.2(h).
Excepted Holder Limit. Each Investor on its own behalf and on behalf of its successors and assigns represents that it neither Beneficially Owns (as such term is defined in the Charter) nor Constructively Owns (as such term is defined in the Charter) shares of capital stock of NFI that would result in NFI (i) being "closely held" within the meaning of Section 856(h) of the Code (without regard to whether the ownership interest is held during the last half of a taxable year), or (ii) otherwise failing to qualify as a Section 856 Trust (including, but not limited to, Beneficial Ownership or Constructive Ownership that would result in NFI owning (actually or Constructively (as such term is defined in the Charter)) an interest in a tenant that is described in Section 856(d)(2)(B) of the Code if the income derived by NFI from such tenant would cause NFI to fail to satisfy any of the gross income requirements of Section 856(c) of the Code). Each Investor does not own, actually or Constructively, an interest in a tenant of NFI (or a tenant in any entity owned or controlled by NFI) that would cause NFI, actually or Constructively, to own actually or Constructively more than a 9.9% interest (as set forth in Section 856(d)(2)(B) of the Code) in such tenant. Each Investor hereby agrees that any violation or attempted violation of such representation or the covenants in Section 6.12(c) will result in such shares being automatically transferred to a trust in accordance with Sections 11.2.1(b) and 11.3 of the Charter. NFI acknowledges that in making the representations set forth in this Section 4.11 each Investor has acted in reliance upon the representation of NFI set forth in Section 3.10(i) and the undertaking of NFI set forth in Section 6.12(c)(ii).
Excepted Holder Limit. Provided that the affected Excepted Holder agrees to comply with the requirements established by the Board of Directors pursuant to Section 7.1.7 and subject to adjustment pursuant to Section 7.1.8, the percentage limit established by the Board of Directors pursuant to Section 7.1.7.
Excepted Holder Limit. If at the time any OP Unit Recipient exercises its Conversion Right the REIT elects to deliver Conversion Shares, and the delivery of such Conversion Shares would violate the Ownership Limit (as defined in the REIT's charter), then the REIT hereby covenants and agrees that it will (i) create an Excepted Holder Limit (as defined in the REIT's charter) for such OP Unit Recipient; or (ii) pay cash in lieu of Conversion Shares for such OP Units (the cash amount to be determined as provided in the Partnership Agreement).
Excepted Holder Limit. The Company, acting through its board of directors, has approved an exemption from the Aggregate Stock Ownership Limit and the Common Stock Ownership Limit set forth in the Charter for the Investors. Effective as of the date hereof, the Investors shall be treated as an Excepted Holder, and shall be subject in the aggregate to an Excepted Holder Limit of percent.
