Separate Class Voting Sample Clauses
The Separate Class Voting clause establishes that certain decisions or actions require the approval of specific groups or classes of stakeholders, rather than a general vote by all parties. In practice, this means that holders of a particular class of shares or interests must vote separately and approve a proposal before it can proceed, such as in cases of amendments affecting their rights or major corporate changes. This clause ensures that the interests of minority or distinct groups are protected by giving them a direct say in matters that uniquely impact them, thereby preventing their rights from being overridden by majority interests.
Separate Class Voting. The holders of the outstanding Shares shall be entitled, voting as a separate class, to vote with respect ONLY to any change in the preferences, rights or limitations of the Series G Preferred Stock (with the affirmative vote of the holders of a majority of the Shares then outstanding being required for the adoption or approval of any such matter).
Separate Class Voting. In addition to the general voting rights set forth in Section 6.1 above, the Holders of the outstanding Shares shall be entitled, voting as a separate class, to vote with respect to the following matters (with the affirmative vote of the Holders of a majority of the Shares then outstanding being required for the adoption or approval of any such matter):
(a) Any change in the preferences, rights or limitations of the Series F Preferred Stock; and
(b) The creation of any series or class of capital stock of the Corporation which is to be accorded parity with or seniority to the Series F Preferred Stock upon liquidation, dissolution or winding up of the Corporation, or which is entitled to any mandatory payment of dividends; and
(c) The Holders of the outstanding Shares shall have the right to designate and elect a majority of the entire Board of Directors of the Corporation and each Subsidiary, with the remaining members of such Boards of Directors to be elected by the affirmative vote or consent of holders of a plurality of the outstanding shares of Common Stock of the Corporation. In furtherance of the foregoing, it is intended that, unless otherwise approved in writing by the Holders of a majority of the Shares:
(i) the entire Board of Directors of the Corporation and each Subsidiary shall consist of not more than seven (7) members; (ii) four (4) members of such Boards of Directors shall be selected by the vote or consent of the Holders of a majority of the outstanding Shares; (iii) the other three (3) members of such Boards of Directors shall be elected by the affirmative vote or consent of holders of a majority of the outstanding shares of Common Stock of the Corporation; and (iv) in the event of increase or reduction in the total number of directors of the Corporation or any Subsidiary, or in the event of any vacancy on the Board of Directors of the Corporation or any Subsidiary arising by reason of death, incapacity or resignation of any director, such increase or reduction of the entire Board(s) of Directors or the filling of such vacancy, as the case may be, shall be consummated in such a manner so as to comply with the requirements of this Section 6.2(c).
Separate Class Voting. In addition to the general voting rights set forth in Section 6.1 above, the Holders of the outstanding Shares shall be entitled, voting as a separate class, to vote with respect to the following matters (with the affirmative vote of the Holders of a majority of the Shares then outstanding being required for the adoption or approval of any such matter):