Common use of Shareholder Resolution Clause in Contracts

Shareholder Resolution. The Shareholders shall procure that no act or event shall occur which is analogous to or has a substantially similar effect to any of the Reserved Matters without the prior approval of the Board in accordance with Clause 4.1. In the event that any of the Reserved Matters is considered at any general meeting of the Company, the other Shareholders hereby undertake that for so long as the Shareholding Requirement is satisfied, they will not approve any resolution for such Reserved Matters without the prior written approval of the Preference Shareholders holding in aggregate not less than 85% of the total Preference Shares.