Appointment of Board Member. At the respective Closing following which Kardan Technologies Ltd. ("Kardan") shall hold, directly or indirectly, at least 9% of the Parent's issued and outstanding share capital, the Parent shall cause the appointment of one person designated by Kardan as a member of the board of directors of Parent, to hold office until the next general meeting of the Parent's shareholders.
Appointment of Board Member. The person designated by Kardan shall have been appointed as a member of the board of directors of Parent.
Appointment of Board Member. At all such times from the Closing until such time as the Debenture remains outstanding in whole or in part, the Company shall have the right to appoint a member to the Board of Directors to (the "Purchaser's Designee"). If within 30 days of the Company's election to appoint it's Purchaser's Designee to the Board of Directors of the Company, such appointment of the Purchaser's Designee has not occurred other than by reason of legal prohibitions or restrictions, the number of Warrant Shares purchasable pursuant to the Warrant shall be increased by 10,000 per month (including such initial 30 day period) such appointment has not occurred. The Company must provide and keep in effect officers' and directors' liability insurance for the Purchaser's Designee which liability insurance shall be satisfactory to Purchaser, and such Purchaser's Designee shall be entitled to receive reasonable and customary director's fees and such other compensation as is ordinarily given to the Company's directors as well as the reimbursement of all out of pocket expenses.
Appointment of Board Member. Within 60 days following the Closing Date, the Buyer shall cause a nominee of the Seller that is reasonably acceptable to the Buyer to be appointed to the Buyer's board of directors. Upon the expiration of the term of office of the Seller's nominee or upon such individual's resignation or removal, the Buyer shall use commercially reasonable efforts to nominate such individual or any other nominee of the Seller that is reasonably acceptable to the Buyer, at the Seller's discretion, for election to the Buyer's board of directors; provided, however, that the Buyer's obligation contained in this sentence shall terminate as of the date that the number of shares of Buyer Common Stock owned by Seller represent less than 5% of the issued and outstanding shares of Buyer Common Stock.
Appointment of Board Member. Larrx Xxxxxxx xxxll be appointed to the Board of Directors of Acquiror to be effective following the Closing to serve for not less than one year, subject to applicable law.
Appointment of Board Member. For so long as (i) TecCapital, any Affiliate of TecCapital, or any other permitted transferees and assigns of TecCapital shall continue to own, in the aggregate, not less than 66.6% of the aggregate number of Purchased Shares purchased by it pursuant to this Agreement, and (ii) a majority of the equity interests of TecCapital are not held by a direct competitor of the Company, TecCapital shall be entitled to designate one (1) member of the Company's Board of Directors (the "TecCapital Director"). The Company agrees to take such actions as are necessary, and the undersigned shareholders of the Company agree to exercise the voting rights of any equity securities issued by the Company and held by them, so as to elect the TecCapital Director (and any successor designated from time to time by TecCapital) to the Board of Directors of the Company.
Appointment of Board Member. Purchaser shall have taken the necessary actions so that, effective immediately following the consummation of the Merger, Purchaser's Board of Directors shall have appointed one individual named by Seller, who shall be Xxxxxxx X. Xxxxxx unless he is unable to serve, to Purchaser's Board of Directors to serve until the next annual meeting of shareholders of Purchaser. Further, Xx. Xxxxxx shall be elected as co-chairman of the Board of Directors of Purchaser, effective immediately following the consummation of the Merger.
Appointment of Board Member. After the Second Closing Date, Target shall appoint a member to Stella Blu’s Board of Directors. Such appointment shall be approved by Stella Blu. Target agrees not to appoint, elect or nominate an additional member to the Stella Blu’s Board of Directors for at least 12 months after the Closing
Appointment of Board Member. If (a) (i) there occurs any Event of Default (as defined in the Debenture) or (ii) the Debenture is not paid in full within six (6) months of the date hereof, and (b) at the time of such Event of Default or six-month anniversary, there is neither (i) a member of the Board of Directors who has been appointed by or at the request of Purchaser or (ii) a vacancy on the Board of Directors which may be filled by appointment, in which case Purchaser shall have the right to appoint a new member to fill such vacancy, then the Company shall use its best efforts to require one member of the Board of Directors to resign, thereby permitting Purchaser to appoint a new member to the Board of Directors to fill the position of such resigning member (the "Purchaser's Designee").. If within 30 days of the occurrence of such Event of Default or the failure to repay the Debenture in full as set forth above, such appointment of the Purchaser's Designee has not occurred other than by reason of legal prohibitions or restrictions, the number of Warrant Shares purchasable pursuant to the Warrant in the event that no Qualifying Transaction has occurred shall be increased by 1% (from the stated 5%) for each month (including such initial 30 day period) such appointment has not occurred. The Company must provide and keep in effect officers' and directors' liability insurance for the Purchaser's Designee which liability insurance shall be satisfactory to Purchaser, and such Purchaser's Designee shall be entitled to receive reasonable and customary director's fees and such other compensation as is ordinarily given to the Company's directors as well as the reimbursement of all out of pocket expenses.
Appointment of Board Member. Upon the request of Callaway Golf, at any time during the term of this Agreement, Saint Andrews shall cause one indixxxxxx designated by Callaway Golf to be appointed to the Board of Directors of Saint Andrews. Saint Andrews' oblxxxxxxx set fortx xx xxe preceding sentence shall not be a one-time obligation but shall be a continuing obligation for the term of this Agreement.
