Common use of Exceptions for Certain Reorganizations Clause in Contracts

Exceptions for Certain Reorganizations. Section 3.1(b) shall not apply to any transaction described therein if the holders of the voting securities of the Company outstanding immediately prior to the transaction own immediately after the transaction in approximately the same proportions 70% or more of the combined voting power of the voting securities of the entity purchasing the assets or surviving the merger or consolidation or, in the case of a reorganization, 70% or more of the combined voting power of the voting securities of the Company. No increase in the percentage of outstanding shares or other voting securities beneficially owned by Alfrxx X. Xxxx xxxulting from any redemption of shares or other voting securities by the Company shall result in a Change of Control pursuant to Section 3.1.