Super Voting Rights definition
Super Voting Rights in respect of each such Share (“Super Voting Shares”) (in the event a holder of Super Voting Shares transfers any of the Super Voting Shares to any person or entity which is not an existing holder of Super Voting Shares and is not an Affiliate of such holder, or any holder of the Super Voting Shares elects to give up the Super Voting Rights by giving a written notice to the Company, such Shares shall no longer be entitled to any Super Voting Rights any more and shall only have one (1) vote in respect of each Ordinary Share), and (ii) the holder of each Preferred Share shall be entitled to such number of votes as equals the whole number of Ordinary Shares into which such holder’s collective Preferred Shares are convertible immediately after the close of business on the record date of the determination of the Company’s shareholders entitled to vote or, if no such record date is established, at the date such vote is taken or any written consent of the Company’s shareholders is first solicited. Subject to provisions to the contrary elsewhere in this Memorandum and the Articles, or as required by the Act, the holders of Preferred Shares shall vote together with the holders of Ordinary Shares, and not as a separate class or series, on all matters put before the Shareholders.
Super Voting Rights shall have the meaning set forth in Section 8.1 to this Agreement.
Examples of Super Voting Rights in a sentence
If such conversion occurs, all references in this Agreement to Class A Common Stock shall be deemed to refer to the Common Stock with Super Voting Rights.
The Parties acknowledge and agree that upon the Conversion the Super Voting Rights and the Dividend Rights will be extinguished.
The Company and 10X Fund agree that value of the consideration delivered by the Company to 10X Fund in or pursuant to this Agreement is equal to the value received by the Company from the Conversion and the extinguishment of the Super Voting Rights and Dividend Rights occurring thereby.