Original Amount definition
Examples of Original Amount in a sentence
This Agreement shall terminate, (i) with respect to the rights and obligations of AE Industrial, on the date upon which AE Industrial Beneficially Owns shares of Common Stock representing less than 5% of its Original Amount and, (ii) with respect to the rights and obligations of the Founder Stockholders, on the date upon which the Founder Stockholders Beneficially Own shares of Common Stock representing less than 60% of their Original Amount.
The Company hereby covenants that the Nominees designated to serve on a Board committee shall have the right to remain on such committee until the next election of Directors, regardless of the percentage of the Original Amount of AE Industrial Beneficially Owned by AE Industrial following such designation.
Unless AE Industrial notifies the Company otherwise prior to the time the Board takes action to change the composition of a Board committee, and to the extent AE Industrial has the requisite percentage of the Original Amount of AE Industrial to designate a Board committee member at the time the Board takes action to change the composition of any such Board committee, any Nominee currently designated by AE Industrial to serve on a committee shall be presumed to be re-designated for such committee.
In order to notify the Company its obligations pursuant to this Section 3 have ended (x) AE Industrial will promptly provide reporting to the Company after AE Industrial ceases to Beneficially Own shares of Common Stock representing at least 5% of its Original Amount and (y) the Founding Stockholders will promptly provide reporting to the Company after the Founding Stockholders cease to Beneficially Own shares of Common Stock representing at least 60% of their Original Amount.
From and after the Effective Date hereof until such time as AE Industrial and its Affiliates cease to Beneficially Own shares of Common Stock representing at least 5% of the Original Amount, the Company hereby covenants that the Board shall not form or designate any committee of the Board unless AE Industrial has consented to such formation or designation.