Certain Voting Rights of Shareholders Clause Samples

The 'Certain Voting Rights of Shareholders' clause defines specific rights granted to shareholders to vote on particular matters concerning the company. Typically, this clause outlines which decisions require shareholder approval, such as mergers, amendments to the articles of incorporation, or the issuance of new shares. By clearly delineating these voting rights, the clause ensures that shareholders have a direct say in significant corporate actions, thereby protecting their interests and promoting transparency in corporate governance.
Certain Voting Rights of Shareholders. (a) Subject to the provisions of any class or series of Common Shares then outstanding and the mandatory provisions of any applicable laws or regulations and subject to the other provisions of this Declaration (including Section 14.2), the following actions may be taken by the Shareholders, without concurrence by the Board of Trustees, upon a vote by the holders of more than fifty percent (50%) of the outstanding Common Shares of the Company entitled to vote on the matters: (i) modify this Declaration in accordance with Article VI hereof; (ii) remove the Advisor and appoint a new Advisor; (iii) sell all or substantially all of the Company’s assets other than in the ordinary course of the Company’s business; or (iv) elect Trustees at an annual meeting. (b) Without the approval of Shareholders entitled to cast a majority of all the votes entitled to be cast on the matter, or such other approval as may be required under the mandatory provisions of any applicable laws or regulations, or other provisions of this Declaration, the Company shall not permit: (i) the Advisor or the Board of Trustees to modify this Declaration except for amendments which do not adversely affect the rights of Shareholders; (ii) the Advisor or the Board of Trustees to appoint a new Advisor (other than a sub-adviser pursuant to the terms of an Advisory Agreement and applicable law); (iii) the Advisor or the Board of Trustees to sell all or substantially all of the Company’s assets other than in the ordinary course of the Company’s business or as otherwise permitted by law; or (iv) the Advisor, except as permitted under the Advisory Agreement, to voluntarily withdraw as the Advisor unless such withdrawal would not affect the tax status of the Company and would not materially adversely affect the Shareholders. (c) Shareholders entitled to cast at least a majority of all Common Shares of the Company entitled to vote may, without the necessity for concurrence by the Advisor, vote to dissolve the Company.
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Related to Certain Voting Rights of Shareholders

  • Rights of Shareholders The Shares shall be personal property giving only the rights in this Declaration specifically set forth. The ownership of the Trust Property of every description and the right to conduct any business herein before described are vested exclusively in the Trustees, and the Shareholders shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for any partition or division of any property, profits, rights or interests of the Trust nor can they be called upon to share or assume any losses of the Trust or, subject to the right of the Trustees to charge certain expenses directly to Shareholders, as provided in the last sentence of Section 3.8, suffer an assessment of any kind by virtue of their ownership of Shares. The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (except as specified in this Section 6.3, in Section 11.4 or as specified by the Trustees when creating the Shares, as in preferred shares).

  • Rights of Stockholders No holder of this Warrant shall be entitled, as a Warrant holder, to vote or receive dividends or be deemed the holder of the Shares or any other securities of the Company which may at any time be issuable on the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the holder of this Warrant, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value, consolidation, merger, conveyance, or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or otherwise until the Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein.