Defaulting Party. For such time as the Event of Default is continuing: (a) the Defaulting Party shall not be entitled to exercise any vote in connection with its Shares or give or withhold any consent or other approval contemplated by this agreement; (b) any Director appointed by the Defaulting Party shall not be entitled to exercise any vote at a meeting of the Board and, for the avoidance of doubt, any of the matters or transactions subject to clause 5 may be undertaken without the need to obtain the approval of any such Director.
Appears in 6 contracts
Sources: Shareholders' Agreement, Shareholders' Agreement, Shareholder Agreement