Common use of Securityholder Approval Clause in Contracts

Securityholder Approval. This Agreement and the Merger ----------------------- shall have been duly approved and adopted by the requisite vote of the holders of Company Capital Stock, and any agreements or arrangements that may result in the payment of any amount that would not be deductible by reason of Section 280G of the Code shall have been approved by such number of shareholders of Company as is required by the terms of Section 280G(b)(5)(B) and shall be obtained in a manner which satisfies all applicable requirements of such Code Section 280G(b)(5)(B) and the proposed Treasury Regulations thereunder, including (without limitation) Q-7 of Section 1.280G-1 of such proposed regulations. The Parent Stockholder Approval shall have been duly obtained.

Appears in 1 contract

Sources: Agreement and Plan of Reorganization (Digital Island Inc)

Securityholder Approval. This Agreement and the Merger shall ----------------------- shall have been duly approved and adopted by the requisite vote of the holders of Company Capital Stock, and any agreements or arrangements that may result in the payment of any amount that would not be deductible by reason of Section 280G of the Code shall have been approved by such number of shareholders of Company as is required by the terms of Section 280G(b)(5)(B) and shall be obtained in a manner which satisfies all applicable requirements of such Code Section 280G(b)(5)(B) and the proposed Treasury Regulations thereunder, including (without limitation) Q-7 of Section 1.280G-1 of such proposed regulations. The Parent Stockholder Approval shall have been duly obtained.

Appears in 1 contract

Sources: Agreement and Plan of Reorganization (Sandpiper Networks Inc)

Securityholder Approval. This Agreement and the Merger shall ----------------------- shall have been duly approved and adopted by the requisite vote of the holders of Company Capital Stock, and any agreements or arrangements that may result in the payment of any amount that would not be deductible by reason of Section 280G of the Code shall have been approved by such number of shareholders of Company as is required by the terms of Section 280G(b)(5)(B) and shall be obtained in a manner which satisfies all applicable requirements of such Code Section 280G(b)(5)(B) and the proposed Treasury Regulations thereunder, including (without limitation) Q-7 of Section 1.280G-1 of such proposed regulations. The Parent Stockholder Approval shall have been duly obtained.

Appears in 1 contract

Sources: Agreement and Plan of Reorganization (Digital Island Inc)