Additional Board Adjustments Clause Samples

Additional Board Adjustments. (1) At such time as the ECP Investors (together with their Permitted Transferees) fail to hold Sunnova Securities representing more than thirty percent (30%) of the Series A Common Stock of the Company (calculated on a fully-diluted as-converted basis), then the ECP Investors shall be entitled to designate two (2) ECP Directors (with Energy Capital Partners III, LP and Energy Capital Partners III-D, LP losing their rights to designate a director) and the Non-ECP Lead Investor Group, on behalf of the Non-ECP Investors, shall be entitled to designate five (5) Non-ECP Directors. [***] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. (2) At such time as the Non-ECP Investors (together with their Permitted Transferees) fail to hold Sunnova Securities representing more than thirty percent (30%) of the Series A Common Stock of the Company (calculated on a fully-diluted as-converted basis), then the Non-ECP Lead Investor Group, on behalf of the Non-ECP Investors, shall be entitled to designate two (2) Non-ECP Directors and the ECP Investors shall be entitled to designate five (5) ECP Directors (with Energy Capital Partners III-D being entitled to designate such additional director).