Voting Restrictions. In accordance with the terms of existing obligations of the Company and Thermo, Thermo shall not exercise any right to vote the Shares in the election of directors of the Company as long as Thermo and its affiliates own 70% or more of the voting common stock of the Company.
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Sources: Common Stock Purchase and Option Agreement (Globalstar, Inc.)
Voting Restrictions. In accordance with the terms of existing obligations of the Company and Thermo, Thermo shall not exercise any right to vote the Shares or the Additional Shares in the election of directors of the Company as long as Thermo and its affiliates own 70% or more of the voting common stock Common Stock of the Company.
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Voting Restrictions. In accordance with the terms of existing obligations of the Company and Thermo, Thermo shall not exercise any right to vote the Shares in the election of directors of the Company as long as that would cause Thermo and its affiliates to own 70% or more of the voting common stock of the Company.
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