Excess Shares

Excess Shares. Means, with respect to any Stockholder at any time, the shares of Preferred Stock constituting the difference obtained by subtracting (i) the Voting Shares held by such Stockholder from (ii) the total Preferred Shares held by such Stockholder. The number of Excess Shares held by each Stockholder (other than TerraNova Capital) as of the date hereof, assuming that the Preferred Shares were issued on the same day the Stockholder entered into the Purchase Agreement, is set forth on Schedule 1... appended hereto. View More

Excess Shares. Shall mean, in the event that the Investor obtains or otherwise holds Voting Securities in excess of 16% of the then-outstanding shares of Common Stock (subject to adjustment for stock splits, reclassifications, combinations and similar adjustments), that number of shares of Voting Securities calculated as (x) the number of shares of Voting Securities held by the Investor minus (y) the number of shares of Voting Securities equal to 16% of the then-outstanding shares of Common Stock;

Excess Shares. Shall mean that portion of the Shares which equals or exceeds 4.90% of the shares of Common Stock then outstanding. For example, if the Shares constitute 7.5% of the shares of Common Stock outstanding, then the Excess Shares at that time shall constitute 2.60% (i.e., 7.5% minus 4.90%) of the shares of Common Stock outstanding.

Excess Shares. Shall have the meaning ascribed to such term in Section 5 of this Article EIGHTH.