Majority Date definition

Majority Date means the first date on which Intel ceases to beneficially own shares of Common Stock representing at least a majority of the votes entitled to be cast by the holders of the outstanding shares of Class A Common Stock and Class B Common Stock, voting together as a single class.

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Majority Date means the later of the date on which (i) the number of Company Shares (as defined in the Stockholders’ Agreement) owned in the aggregate by the Managers and/or any affiliate of either Manager (but not, for the avoidance of doubt, the Company Shares owned by any person or entity that is an affiliate of both Managers) is reduced to less than 50% (equitably adjusted for any stock splits, recapitalizations or similar transactions) of the number of Company Shares owned in the aggregate by the Managers and/or any affiliate of either Manager (but not, for the avoidance of doubt, the Company Shares owned by any person or entity that is an affiliate of both Managers) immediately following the first Initial Public Offering (as defined in the Stockholders’ Agreement) and (ii) the Financing Documents permit the payment of the amounts set forth in Section 4(b).

Majority Date means the later of the date on which (i) the number of Company Shares (as defined in the Stockholders’ Agreement) owned in the aggregate by the Managers and/or any affiliate of either Manager (but not, for the avoidance of doubt, the Company Shares owned by any person or entity that is an affiliate of both Managers) is reduced to less than 50% (equitably adjusted for any stock splits, recapitalizations or similar transactions) of the number of Company Shares owned in the aggregate by the Managers and/or any affiliate of either Manager (but not, for the avoidance of doubt, the

Examples of Majority Date in a sentence

• If both Managers agree to not require payment by the Company under this Section 4(b) with respect to a Majority Date or Sale, then this Agreement shall continue until the expiration of the Initial Term, at which point the Company shall be required to make the payment described in the foregoing sentence.

• New Debt and the foregoing $2,000,000 and $5,000,000 amounts shall not include any indebtedness incurred by WHMC prior to the Super Majority Date, any refinancing or such then existing indebtedness up to the principal amount outstanding on the date of such refinancing and any indebtedness specifically approved by the Board of Directors as New Debt.

• Upon payment of the Casualty Amount in respect of any Item of Equipment, Airframe or Engine suffering Casualty on such Casualty Settlement Date together with all Interest then due and owing, the remaining scheduled Required Prepayments and Interest under this Loan Agreement shall be reduced such that the remaining Required Prepayments, when aggregated with all other Required Prepayments, shall fully amortize the outstanding Loan Balance by the Majority Date.

More Definitions of Majority Date

Majority Date. The last day of a guaranteed term.

Majority Date means the first date on which FAT Brands ceases to beneficially own shares of Common Stock representing at least a majority of the votes entitled to be cast by holders of outstanding shares of Class A Common Stock and holders of outstanding shares of Class B Common Stock, voting together as a single class.