Voting Requirement definition
Examples of Voting Requirement in a sentence
For so long as the Australian Voting Requirement is applicable, the WAT Trustee hereby covenants and agrees to (i) call a meeting of WAT unitholders to obtain the approval for the WAT Trustee to exercise voting rights in respect of the election of Directors and (ii) attend, in person or by proxy, any shareholders meeting at which the shareholders of the Company are to vote for the election of Directors and to vote or cause to be voted all of their shares of Common Stock at each such meeting.
The Lenders will waive their right to receive distributions in respect of their unsecured deficiency claims under the US Plan if the Voting Requirement is satisfied in the US without regard to the votes of the Lenders, and under the Canadian Plan if the Voting Requirement is satisfied in Canada, without regard to the votes of the Lenders.
In any election of directors to the Board of Directors, each Founder shall vote or cause to be voted in such election its Founder Voting Shares (i) with respect to any Individual Founder who has been duly nominated for election to the Board of Directors, “for” the election of such Individual Founder to the Board of Directors and (ii) with respect to any other person who has been duly nominated for election to the Board of Directors, in accordance with the Applicable Voting Requirement.
With respect to any proposal to remove one or more directors from the Board of Directors, each Founder shall vote or cause to be voted on such proposal its Founder Voting Shares (i) with respect to any Individual Founder who is proposed to be removed from the Board of Directors, “against” the removal of such Individual Founder from the Board of Directors and (ii) with respect to any other person who is proposed to be removed from the Board of Directors, in accordance with the Applicable Voting Requirement.
In the event that any of the events or transactions identified in clauses (a) or (b) are subsequently withdrawn, terminated or cease to exist, the Voting Standstill Period shall be reinstated and the terms of this Agreement, including the Proportional Voting Requirement, will again be applicable to Great Hill.
The Company acknowledges the Board’s approval of the acquisition by the Fairholme Accounts of Beneficial Ownership of Additional Shares up to the 1/3 Threshold, which together with all shares of Common Stock up to the 1/3 Threshold Beneficially Owned by the Fairholme Accounts shall not be subject to the Proportional Voting Requirement, which approval has not been rescinded and is hereby ratified and confirmed.
In the event that any of the events or transactions identified in clauses (a) or (b) are subsequently withdrawn, terminated or cease to exist, the Voting Standstill Period shall be reinstated and the terms of this Agreement, including the Proportional Voting Requirement, will again be applicable to the Fairholme Accounts.