Cumulative Voting Sample Clauses
The Cumulative Voting clause establishes a method for shareholders to allocate their votes in the election of directors, allowing them to concentrate multiple votes on a single candidate rather than distributing them evenly. In practice, each shareholder multiplies the number of shares they own by the number of directors to be elected, and can cast all resulting votes for one candidate or divide them among several candidates as they choose. This mechanism is particularly beneficial for minority shareholders, as it increases their ability to influence the election outcome and secure board representation, thereby promoting fairer and more proportional governance.
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Cumulative Voting. The right to cumulate votes in the election of Directors shall not exist with respect to shares of stock of this corporation.
Cumulative Voting. At each election for Directors, every Member entitled to vote at such election shall have the right to vote, in person or by proxy, the number of Units owned by him or her for as many persons as there are Directors to be elected and for whose election he or she has a right to vote, or to cumulate his or her votes by giving one candidate as many votes as the number of such Directors multiplied by the number of his or her Units, or by distributing such votes on the same principle among any number of candidates.
Cumulative Voting. The shareholders of the Corporation shall not be entitled to cumulate their votes in the election of directors.
Cumulative Voting. Company's Articles of Incorporation shall be amended to provide that as long as AAHA owns *** of the Shares and PVPL owns *** of the Shares, AAHA will be entitled to appoint six (6) members of the Board of Directors and PVPL will be entitled to appoint *** *** member of the Board of Directors, all as described in Section 10 of the Shareholders Agreement.
Cumulative Voting. The right of Members to cumulative voting is expressly prohibited.
Cumulative Voting. Cumulative voting shall not apply to election of directors.
Cumulative Voting. Except as otherwise required by applicable law, there shall be no cumulative voting on any matter brought to a vote of stockholders of the Corporation.
Cumulative Voting. In the event that any stockholder of the Company exercises its right to cumulate its votes in connection with any election of directors, the Voting Parties shall coordinate their voting to ensure that the maximum number of directors is elected to the Board of Directors. In determining the maximum number of directors which may be ensured election, the parties hereto shall assume that all outstanding Shares are voted and shall assume that any Shares held by persons who are not parties to this Agreement will vote their Shares for candidates other than the directors. If less than all of the directors can be assured election, then the priority given to the Independent Directors shall be determined by a majority-in-interest of the Voting Parties.
Cumulative Voting. As promptly as practicable following the Closing Date, the Company shall amend its Articles of Incorporation, Code of Regulations or Bylaws, as the case may be, to eliminate cumulative voting in the election of directors.
Cumulative Voting. Cumulative voting shall not be permitted in the election of directors.