Majority Ownership definition

Majority Ownership of an entity means ownership interests representing more than fifty percent (50%) of the total fair market value or of the total voting power of all ownership interests in the entity; “Group” has the meaning provided in Code Section 409A and its interpretive regulations with respect to changes in ownership, effective control, and ownership of assets; and an individual who owns a vested option to purchase either stock or another ownership interest is deemed to own that stock or other ownership interest.

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Majority Ownership or “Majority Owner” means a Person, group of Persons, a Business Entity or group of Business Entities who are Owners of, or otherwise control fifty-one percent (51%) or more of the equity interest, voting rights, and profits interest in a Cannabis Business on a fully diluted basis;

Majority Ownership means 51% or as close as possible to but not less than 51%, ownership and voting rights in the Underlying Asset.

Examples of Majority Ownership in a sentence

• This Agreement shall terminate immediately upon the occurrence of the first of the following events: a) payment of the entire Award Payable; b) voluntary resignation of the Manager; c) termination of Manager's employment with the Company, the Employer or Coca-Cola Bottling Company of the Southwest, for any reason other than death, disability or retirement (as defined in Paragraphs 5 and 6 above); or Change of Majority Ownership of the Company or Manager's employer.

• In the event the Number of Board Members is increased to more than eleven (11) members, (x) the total Number of Board Members shall remain an odd number and (y) for so long as the CVH Parties satisfy the CVH Majority Ownership Requirements, the CVH Parties shall be entitled to designate the majority of the members of the Board in accordance with the procedures set forth in this Section 2.2(a).

• In addition, until the Majority Ownership Requirement is no longer met, special meetings of stockholders of the Corporation may be called by the Secretary of the Corporation at the request of the holders of a majority of the total voting power of the outstanding shares of capital stock of the Corporation entitled to vote generally in the election of Directors, voting together as a single class.

• This Agreement shall terminate immediately upon the occurrence of the first of the following events: a) payment of the entire Award Payable; b) voluntary resignation of the Manager; c) termination of Manager's employment with the Company or a bottling subsidiary of the Company, for any reason other than death, disability or retirement (as defined in Paragraphs 5 and 6 above); or Change of Majority Ownership of the Company or Manager's employer.

• The Corporation will not be subject to the provisions of Section 203 of the General Corporation Law until the Majority Ownership Requirement is no longer met.

• For the avoidance of doubt, for as long as the CVH Parties satisfy the CVH Majority Ownership Requirement, CVH will be deemed to have the highest Shareholder Director Number for purposes of this Section 2.2.

• In the event that (i) the Fintech Parties own a quantity of Company Shares larger than the quantity of Company Shares held by the CVH Parties and (ii) the CVH Majority Ownership Requirement is no longer satisfied, Fintech Advisory shall be entitled to nominate the Chairman of the Board and CVH shall be entitled to nominate the Vice-Chairman of the Board to the extent it owns the corresponding Minimum Shareholders Amount.

• For so long as the CVH Majority Ownership Requirement is satisfied, the CVH Parties shall appoint three (3) representatives, and the Fintech Parties, or the Veto Third Party Shareholder, as applicable, shall appoint two (2) representatives, and thereafter, the Shareholder with the highest Agreement Ownership Percentage shall appoint three (3) representatives and the Shareholder with the second highest Agreement Ownership Percentage shall appoint two (2) representatives.

• Until the Majority Ownership Requirement is no longer met, any action required or permitted to be taken by the stockholders of the Corporation may be effected by the consent in writing of the holders of a majority of the total voting power of the Corporation entitled to vote thereon, voting together as a single class in lieu of a duly called annual or special meeting of stockholders.

• The Transfer Restriction shall be of no further force and effect as of the Majority Ownership Date.

More Definitions of Majority Ownership

Majority Ownership of a Dealer or other Person shall mean beneficial ownership or control, directly or indirectly, of either (a) a majority of the outstanding equity securities of such Dealer or other Person entitled to vote generally in the election of directors, trustees or members of any other governing body of such Dealer or other Person or (b) equity securities of such Dealer or other Person representing a majority of all outstanding votes entitled to be cast in the election of directors, trustees or members of any other governing body of such Dealer or other Person.

Majority Ownership means voting control of more than 50 percent of all ownership interests in a Project.

Majority Ownership means having “beneficial ownership” (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934) of more than 50% of the total outstanding voting power of all classes of an entity’s Capital Stock entitled to vote generally in the election of directors.

Majority Ownership or Majority Owner” means a person or group of persons who are owners of, or control more than 51% of the equity interest, voting rights, and profits interest in a Cannabis Business on a fully diluted basis.