Approval Holders

Approval Holders. The Holders of at least sixty percent (60%) of the Conversion Shares (or shares of Series D Preferred Stock and Series E Preferred Stock convertible into Conversion Shares) at the time of the proposed action or consent, voting together as a single class; provided, however, that, (i) so long as Summit owns at least 50% of the Series D Preferred Stock (or Conversion Shares issued upon conversion of such Series D Preferred Stock) held by Summit as of the date hereof, any action requiring the... consent of the Approval Holders shall also require the consent of a majority of Series D Preferred Stock (or Conversion Shares issued upon conversion of such Series D Preferred Stock) held by Summit at the time of the proposed action or consent, voting together as a single class, (ii) so long as Summit owns at least 50% of the Series E Preferred Stock (or Conversion Shares issued upon conversion of such Series E Preferred Stock) held by Summit as of the date hereof, any action requiring the consent of the Approval Holders shall also require the consent of a majority of Series E Preferred Stock (or Conversion Shares issued upon conversion of such Series E Preferred Stock) held by Summit at the time of the proposed action or consent, voting together as a single class, and (iii) so long as Bain owns at least 50% of the Conversion Shares (or shares of Series D Preferred Stock convertible into Conversion Shares) held by Bain as of the date hereof, any action requiring the consent of the Approval Holders shall also require the consent of a majority of the Conversion Shares (or shares of Series D Preferred Stock convertible into Conversion Shares) held by Bain at the time of the proposed action or consent, voting together as a single class View More