Delegated Shares definition
Delegated Shares means all Voting Securities then owned by such party and entitled to vote in the election of directors or such lesser number of Voting Securities as is equal to (x) the fraction consisting of all of such party's Voting Securities then entitled to vote in the election of directors divided by the sum of the Voting Securities entitled to vote that are then held by Purchaser Shareholders and those held by ▇▇▇▇▇▇, multiplied by (y) a number of shares equal to the arithmetic difference between forty-eight percent (48.0%) of all Voting Securities then outstanding and entitled to vote in the election of directors minus the sum of the Voting Securities then held by DCG and the Voting Securities then held by ▇▇▇▇▇▇. Consistent with the foregoing, each Purchaser Shareholder and ▇▇▇▇▇▇ may vote any of such party's Voting Securities that do not constitute Delegated Shares for any nominee for director, whether or not a Specified Nominee, in such party's discretion.
Examples of Delegated Shares in a sentence
For the avoidance of doubt, except for the agreement in this Clause 3.4, this Agreement shall not restrict the Company from further disposing of all or part of the Delegated Shares.
If any of the Delegated Shares is disposed by the Company, the actual voting power delegated to Mr. Fu under Clause 1.1 in this Agreement shall decrease accordingly.
Consistent with the foregoing, each Purchaser Shareholder and ▇▇▇▇▇▇ may vote any of such party's Voting Securities that do not constitute Delegated Shares for any nominee for director, whether or not a Specified Nominee, in such party's discretion.