Common use of Total Authorized Clause in Contracts

Total Authorized. 1.1 The total number of shares of all classes of stock that the Corporation has authority to issue is [___________] shares, consisting of three (3) classes: [___________] shares of Class A Common Stock, $0.0001 par value per share (“Class A Common Stock”), [___________] shares of Class B Common Stock, $0.0001 par value per share (“Class B Common Stock”, and together with the Class A Common Stock, the “Common Stock”) and [___________] shares of Preferred Stock, $0.0001 par value per share (“Preferred Stock”). 1.2 The number of authorized shares of Class A Common Stock or Class B Common Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of capital stock representing a majority of the voting power of all the then-outstanding shares of capital stock of the Corporation entitled to vote thereon, irrespective of the provisions of Section 242(b)(2) of the General Corporation Law, and no vote of the holders of the Class A Common Stock or Class B Common Stock voting separately as a class shall be required therefor.

Total Authorized. 1.1 The total number of shares of all classes of stock that the Corporation has authority to issue is [___________915,000,000] shares, consisting of three (3) classes: [___________750,000,000] shares of Class A Common Stock, $0.0001 0.00001 par value per share (“Class A Common Stock”), [___________150,000,000] shares of Class B Common Stock, $0.0001 0.00001 par value per share (“Class B Common Stock”, ” and together with the Class A Common Stock, the “Common Stock”) and [___________15,000,000] shares of Preferred Stock, $0.0001 0.00001 par value per share (“Preferred Stock”). 1.2 The number of authorized shares of Class A Common Stock or Class B Common Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of capital stock representing a majority of the voting power of all the then-outstanding shares of capital stock of the Corporation entitled to vote thereon, irrespective of the provisions of Section 242(b)(2) of the General Corporation Law, and no vote of the holders of the Class A Common Stock or Class B Common Stock voting separately as a class shall be required therefor.