Cumulative Voting definition
Cumulative Voting means the voting mechanism for election of Directors under which the number of votes exercisable in respect of one share shall be the same as the number of Directors to be elected, and the total number of votes per share may be consolidated for election of one candidate or may be split for election of two or more candidates. A candidate to whom the ballots cast represent a prevailing number of votes shall be deemed elected.
Cumulative Voting means, in all elections of directors, each shareholder shall have the right to vote the number of shares owned by him for as many persons as there are directors to be elected or to cumulate such shares and give one candidate as many votes as the number of directors, multiplied by the number of his shares, shall equal or to distribute them on the same principle among as many candidates as he thinks fit. In deciding all other questions at meetings of shareholders, each shareholder shall be entitled to one vote on each share of stock held by him, except that this shall not be construed as limiting the voting rights of holders of preferred stock under the terms and provisions of articles of association or amendments thereto;
Cumulative Voting means, that each Sshareholder shall to have a number of votes equal to the number of shares owned, whereby he shall vote for one candidate for the membership of the Board of Directors or distributed distribute his votes among the selected candidates, provided the number of votes granted to the candidates selected by him may not exceed, by any means, the number of votes shares in his possession.
Examples of Cumulative Voting in a sentence
In applying the Cumulative Voting Formula, a fraction less than one in the number of votes shall be rounded down.
The Company will authorize the issuance of 25,000 shares of Series A Cumulative Voting Preferred Stock, $0.01 par value per share (the "Series A Preferred Stock").
The Holder, upon not less than 61 days’ prior notice to the Corporation, may increase the percentage of Cumulative Voting Power that defines the Beneficial Ownership Limitation to 19.99%.
The “Beneficial Ownership Limitation” shall be 9.99% of the Cumulative Voting Power outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon the conversion specified in the Notice of Conversion.
All dividends required to be paid on Armour 9% Cumulative Voting Preferred Stock have been paid through December 31, 1996.
More Definitions of Cumulative Voting
Cumulative Voting means that each Shareholder shall have a number of votes that is equal to the number of Shares he/she/it holds in the Company, to be applied towards voting for only one nominee to the membership of the Board or distributed among selected nominees; provided, however, that in all cases the number of votes given to the selected nominees should not exceed the number of held votes;
Cumulative Voting. : shall mean that each
Cumulative Voting. , as used herein, shall mean a system of voting for directors under which an Owner, who is entitled to cast one vote for each director’s position up for election, is permitted to cast all such votes for a single director, or to distribute all the possible votes among fewer than all the positions open for election; cumulative voting is not permitted under these Bylaws.
Cumulative Voting means the voting mechanism for an election of Directors as described in Article 67.
Cumulative Voting means a method of voting for electing Board members that gives each shareholder a voting capacity equivalent to the number of shares that he/she owns, and by which the shareholder is entitled to either exercise all of his/her votes in favor of one nominee or to divide his/her votes in favor of several nominees without any duplication of such votes.
Cumulative Voting means each voting member may cast as many votes as there are positions open.
Cumulative Voting means that when directors or supervisors are elected by the shareholders’ meeting, each share shall enjoy number of votes equivalent to the number of directors or supervisors to be elected, and shareholders may vote jointly when voting. To avoid doubt, the detailed arrangement of the Board of Directors and Board of Supervisors of the Company shall be controlled by Sections 10.1 and 11.1 of this Agreement.