Common use of Determination of Percentage Ownership Clause in Contracts

Determination of Percentage Ownership. For purposes of this Agreement, the percentage of Voting Shares Beneficially Owned by any Person shall be, and be deemed to be, the product determined by the formula: 100 X A - B where A = the aggregate number of votes for the election of all directors generally attaching to the Voting Shares Beneficially Owned by such Person; and B = the aggregate number of votes for the election of all directors generally attaching to all outstanding Voting Shares. For purposes of this Agreement, in determining the percentage of the outstanding Voting Shares with respect to which a Person is or is deemed to be the Beneficial Owner, all unissued Voting Shares as to which such Person is deemed the Beneficial Owner shall be deemed outstanding.