Restricted Class Voting Sample Clauses

Restricted Class Voting. In addition to any class or series voting rights provided to the holders of Series B1 Preferred Stock herein or required by law, on any matter presented to the shareholders of the Corporation for their action or consideration at any meeting of shareholders of the Corporation (or by written consent of shareholders in lieu of meeting), each holder of outstanding shares of Series B1 Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of Common Stock into which the shares of Series B1 Preferred Stock held by such holder are convertible as of the record date for determining shareholders entitled to vote on such matter, subject in all cases to the Maximum Percentage (i.e., in no event shall any Holder have the right to vote more voting shares in connection with the terms of this Section 6.1 than as equals its individual Maximum Percentage (when aggregated with all other voting shares beneficially owned by such Holder as of such applicable record date)), and shall be entitled, notwithstanding any provision hereof, to notice of any shareholders’ meeting in accordance with the bylaws of the Corporation. Fractional votes shall not, however, be permitted and any fractional voting rights available on an as-converted to Common Stock basis (after aggregating all fractional shares into which shares of Series B1 Preferred Stock held by each holder could be converted) shall be rounded to the nearest whole share (with one-half being rounded upward). Except as provided by law or by the other provisions of the Articles of Incorporation or this Designation, holders of Series B1 Preferred Stock shall vote together with the holders of Common Stock as a single class. In the event any Holder’s voting rights under this Section 6.1 are limited by the Maximum Percentage, the total number of voting shares eligible to be voted on the applicable matter shall similarly be decreased. For the sake of clarity, the purpose of this Section 6.1 is to limit the maximum voting rights of the Series B1 Preferred Stock shares held by any individual Holder, to the lesser of (a) 9.99% of the Corporation’s Common Stock then outstanding; and (b) such number of voting shares of the Corporation, if any, that, when added together with the other voting securities of the Corporation beneficially owned (as calculated pursuant to Rule 13d-3 of the Exchange Act) by such Holder, totals 9.99% of the Corporation’s then outstanding Common Stock.