Common use of Shareholder Proposals Clause in Contracts

Shareholder Proposals. In connection with the transactions contemplated hereby, the Company will call a meeting of its shareholders, to be held as promptly as practicable after the date of this Agreement to vote on (i) amendments to Company’s articles of incorporation necessary to consummate the transactions contemplated by this Agreement (the “Articles of Amendment”), including, without limitation, an amendment to authorize additional shares of Common Stock and to eliminate the par value of the Common Stock (the “Articles Amendment Proposal”), (ii) the issuance of Common Shares to the Investors and the Treasury as contemplated by this Agreement and as required by Rule 5635 of the NASDAQ Listing Rules (the “Share Issuance Proposal”) and (iii) the approval of a reverse stock split of the Common Shares, if such approval is required by the NASDAQ Listing Rules or as the Company otherwise deems necessary (the “Stock Split Proposal”, together with the Articles Amendment Proposal, the Share Issuance Proposal and the Granite Merger Proposal, the “Shareholder Proposals”).

Shareholder Proposals. In connection with the transactions contemplated hereby, the Company will call a meeting of its shareholders, to be held as promptly as practicable after the date of this Agreement to vote on (i) amendments to Company’s articles of incorporation necessary to consummate the transactions contemplated by this Agreement (the “Articles of Amendment”), including, without limitation, an amendment to authorize additional shares of Common Stock and to eliminate the par value of the Common Preferred Stock (the “Articles Amendment Proposal”), (ii) the issuance of Common Shares to the Investors and the Treasury and in connection with the Granite Merger, as contemplated by this Agreement, the Investment Agreements and the Merger Agreement and as required by Rule 5635 of the NASDAQ Listing Rules (the “Share Issuance Proposal”) ), and (iii) the approval of a reverse stock split of the Common Shares, if such approval is required by the NASDAQ Listing Rules or as the Company otherwise deems necessary (the “Stock Split Proposal”, together with the Articles Amendment Proposal, Proposal and the Share Issuance Proposal and the Granite Merger Proposal, the “Shareholder Proposals”).