Substantial Block definition

Substantial Block means a number of shares of the Voting Stock which has 15% or more of the aggregate voting power of all outstanding shares of Voting Stock.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Substantial Block means a number of shares of the Common Stock equal to or in excess of 15% of the number of shares of the Common Stock then outstanding.

Substantial Block means a number of shares of Voting Stock having in the aggregate 20 percent or more of the general voting power.

Examples of Substantial Block in a sentence

• For purposes of this Agreement, the following terms have the meanings indicated: (a) "Acquiring Person" shall mean any Person who or which, together with all Affiliates and Associates of such Person, shall be the Beneficial Owner of a Substantial Block of either Class of Common Stock, but shall not include the Company, any Subsidiary of the Company, any employee benefit plan of the Company or any Subsidiary of the Company, or any entity holding Common Stock for or pursuant to the terms of any such plan.

• Prior to the Distribution Date, the Company and the Rights Agent shall, if the Company so directs, supplement or amend any provision of this Agreement, including, without limitation, the modification of the definition of Substantial Block, without the approval of any holders of certificates representing shares of Common Stock.

More Definitions of Substantial Block

Substantial Block means a number of shares of Common Stock of the Company which equals or exceeds 15% of the number of shares of Common Stock of the Company then outstanding.

Substantial Block means voting securities of the Company that equal to or in excess of ten (10) percent of the total voting securities of the Company then outstanding on an as-converted basis.

Substantial Block means a number of shares of the Common Stock of the Company that equals or exceeds 15 percent of the number of shares of the Common Stock of the Company then outstanding.

Substantial Block means a number of shares of the ------------------- Voting Stock equal to or in excess of 15% of the number of shares of the Voting Stock then outstanding. (xix) "Voting Stock" means Shares the holders of which are entitled -------------- to vote for the election of directors of the Company, but excluding Shares entitled to vote only upon the occurrence of a contingency unless that contingency shall have occurred.

Substantial Block means a number of shares of Voting Stock having in the aggregate fifteen percent (15%) or more of the general voting power.

Substantial Block means a number of Ordinary Shares equal to or in excess of 20% of the number of Ordinary Shares then outstanding.

Substantial Block means voting securities of the Company that equal to or in excess of 15% of the total voting securities of the Company then outstanding on an as-converted basis; provided that if the Company shall repurchase and cancel its issued and outstanding Ordinary Shares, then the percentage of the voting securities constituting a Substantial Block (the “Substantial Block Percentage”) shall be adjusted upward based the following formula: the new Substantial Block Percentage shall equal to a fraction the numerator of which is the number of the Ordinary Shares constituting the Substantial Block Percentage immediately prior to the repurchase and cancellation of Ordinary Shares by the Company, and the denominator of which is the total number of the Ordinary Shares of the Company issued and outstanding immediately after the repurchase and cancellation of Ordinary Shares by the Company.