Required Interest. REQUIRED INTEREST" shall mean the stockholders of the Company, including FSEP IV, who, at any given time, own of record and beneficially more than 50% of the then issued and outstanding Shares; provided, that FSEP IV shall no longer be included within the "Required Interest" once FSEP IV's percentage ownership in the Company (calculated on the fully diluted basis) drops below 20%.
Appears in 2 contracts
Sources: Stockholder's Agreement (Century Maintenance Supply Inc), Stockholders' Agreement (Century Maintenance Supply Inc)