Shareholder Approval Date Sample Clauses
The Shareholder Approval Date clause defines the specific date on which the shareholders of a company formally approve a particular action, transaction, or agreement. In practice, this date is typically established during a shareholder meeting or through a written resolution, and it marks the point at which shareholder consent is officially granted for matters such as mergers, acquisitions, or amendments to corporate documents. The core function of this clause is to provide a clear and unambiguous reference point for when shareholder approval is obtained, ensuring legal certainty and facilitating the proper execution of subsequent steps in the transaction or corporate process.
Shareholder Approval Date. This Warrant may not be exercised until the Company has obtained the approval of the shareholders of the Company to the exercise of this Warrant in accordance with Listing Rule 5635(b) and 5635(d) of The Nasdaq Stock Market, Inc (such approval, “Warrant Shareholder Approval”, and the date of such approval, the “Warrant Shareholder Approval Date”), to the extent that at such time, such approval is required under such Listing Rules for such exercise.
Shareholder Approval Date. The Company shall provide each shareholder entitled to vote at a special meeting of shareholders of the Company (the “Shareholder Meeting”), which shall be promptly called and held not later than 150 days after the date of Issue of this Warrant (the “Shareholder Meeting Deadline”), a proxy statement. The proxy statement shall solicit each of the Company’s shareholder’s affirmative vote at the Shareholder Meeting for approval of a resolution providing for an increase in the Company’s authorized Common Stock to a number that is no less than 130% of the number sufficient to permit the exercise of this and the other Warrants of this class as well as the conversion or exercise, as applicable, of all other outstanding derivative securities issued by the Company (such affirmative approval being referred to herein as the “Shareholder Approval”, and the date such Shareholder Approval is obtained, the “Shareholder Approval Date”), and the Company shall use its reasonable best efforts to solicit its shareholders’ approval of such resolution and to cause the Board of Directors of the Company to recommend to the shareholders that they approve such resolution. The Company shall be obligated to seek to obtain the Shareholder Approval by the Shareholder Meeting Deadline. If, despite the Company’s reasonable best efforts the Shareholder Approval is not obtained on or prior to the Shareholder Meeting Deadline, the Company shall cause an additional Shareholder Meeting to be held on or prior to 240 days after the date of issue of this Warrant. If, despite the Company’s reasonable best efforts the Shareholder Approval is not obtained after such subsequent shareholder meetings, the Company shall cause an additional Shareholder Meeting to be held semi-annually thereafter until such Shareholder Approval is obtained.