Common use of Majority Holders Clause in Contracts

Majority Holders. Majority Holders means, unless otherwise specifically provided in this Agreement, the holder or holders at the relevant time (excluding the Company and its Subsidiaries) of, initially, (a) in the case of the Note (or in the case of any subdivision or partial assignment of any Note), more than 50% in outstanding principal amount of the outstanding Note and the outstanding resulting Notes for as long as any Note or resulting Notes are outstanding, and (b) after payment in full of the principal of and interest on the Note, in the case of the Warrant and Warrant Stock, more than 50% of the sum of the number of shares of Warrant Stock then issuable upon exercise of the outstanding Warrant plus the number of then issued and outstanding shares of Warrant Stock. Maximum Rate. See Section 3.6(b).

Majority Holders. Majority Holders means, unless otherwise specifically provided in this Agreement, the holder or holders at the relevant time (excluding the Company and its Subsidiaries) of, initially, (a) in the case of the Note (or in the case of any subdivision or partial assignment of any Note), more than 50% in outstanding principal amount of the outstanding Note and the outstanding resulting Notes for as long as any Note or resulting Notes are outstanding, and (b) after payment in full of the principal of and interest on the Note, in the case of the Warrant and Warrant Stock, more than 50% of the sum of the number of shares of Warrant Stock then issuable upon exercise of the outstanding Warrant plus the number of then issued and outstanding shares of Warrant Stock. Maximum RateMAXIMUM RATE. See Section 3.6(b).