APPOINTMENT OF NOMINEE DIRECTOR. On the happening of any of the events of default, in addition to the rights specified elsewhere in this Deed the Trustees shall have the following further rights; the Trustees may appoint and remove from time to time directors on the Board of Directors of the Company during the currency of these presents (such Director(s) are hereinafter referred to as the “Nominee Director(s)”). Provided that such appointment has been approved by the president of India as per the relevant Clause of the Articles of Association of the Company. The Company shall procure an undertaking from such persons as may be specified by the Trustees to the effect that they shall support where necessary the appointment of nominee director(s) at meetings of the Board and of the shareholders. Such nominee director(s) shall exercise such powers and duties as may be approved by the Trustees and have such rights as are usually exercised by or available to a director of the Company. Such nominee director(s) shall not be required to hold qualification shares, nor be liable to retire by rotation and shall be entitled to receive such remuneration, fees, commission and monies as may be approved by the Bondholder(s)/the Beneficial Owner(s). Such Nominee Director(s) shall have the right to receive notices of and attend all general meetings and Board Meetings or any Committee(s) of the Company of which they are members. The Company shall take steps to amend its Articles of Association, if necessary. Any expenses that may be incurred by the Trustees or such nominee director(s) in connection with their appointment or directorship shall be paid or reimbursed by the Company to the Trustees or as the case may be, to such nominee director(s).
APPOINTMENT OF NOMINEE DIRECTOR. (a) Subject to clause 7.3, the Subscriber is entitled to nominate a director to the Board of the Issuer, and the Issuer will appoint that nominee as a Director, subject to the following conditions being satisfied:
APPOINTMENT OF NOMINEE DIRECTOR. The Bank shall at all times during the currency of the Facilities be entitled to appoint one Nominee on the Board of Directors of the Borrower if in its opinion the same is required to ensure that the interest of the Bank are adequately protected. Such Nominee will be entitled to all rights and interest, remunerations and fees payable to other directors of the Borrower. The Nominee Director shall not be liable to retire by rotation or hold qualification shares. The Borrower shall accept such Nomination and will ensure that the necessary formalities required to be completed are duly effected as per the applicable procedures of law as stated in the Companies Act or any other applicable law as may be amended from time to time.
APPOINTMENT OF NOMINEE DIRECTOR. The Debenture Holder(s) and the Trustee shall have the right to appoint a nominee director as per the SEBI (Debenture Trustee) Regulations, 1993 on the Board of the Company (“Nominee Director’) in the event of:
APPOINTMENT OF NOMINEE DIRECTOR. In the event of default, ICICI Bank shall have the right to appoint and remove from time to time, Director(s) on the Board of Directors of the Company (such directors are hereinafter referred to as “the Nominee Director(s)”).
APPOINTMENT OF NOMINEE DIRECTOR. On behalf of the Debenture Holders, only in the event of default, Debenture Trustee shall have a right to appoint a Debenture Director on the Board of Directors of the Company (hereinafter referred to as 'the Debenture Director'). The right to appoint the Debenture Director shall be exercised by the Debenture trustees as per the statutory guidelines as may be applicable for the purpose in consultation with the participating Debenture Holders. In case of default in payment of interest/principal on the due date(s) each of the Institutional Debenture Holders shall have a right to appoint a Nominee Director on the Board of Directors of the Company. The Nominee Director appointed pursuant to above Clauses shall not be liable to retire by rotation nor shall be required to hold any qualification shares. The Company shall take steps to amend its Articles of Association, if necessary.
APPOINTMENT OF NOMINEE DIRECTOR. In the event the borrower is in default under the terms of this Loan Agreement, the Borrower agrees that the Lender shall be entitled to appoint and withdraw from time to time one Director on the Board of Directors of the Borrower at any time during the currency of this Agreement.
APPOINTMENT OF NOMINEE DIRECTOR. The Bank shall at all times until the Final Settlement Date be entitled to appoint nominee directors on the Board of Directors of the Borrower. Such nominee(s) will be entitled to all rights and interest, remunerations and fees payable to other directors of the Borrower. The nominee directors shall not be liable to retire by rotation or hold qualification shares. The Borrower shall accept such nomination and appointment and will ensure that the necessary formalities required to be completed are duly effected as per the applicable procedures of law as stated in the Companies Act, 1956/ the Companies Act, 2013 or any other applicable law as may be amended from time to time.
APPOINTMENT OF NOMINEE DIRECTOR. I will perform the services as Nominee Director for a period of 1 year commencing [*date to be inserted]. Should I be unable to perform the services for any reason whatsoever, I shall be entitled appoint a replacement Nominee Director without any liability to the Company.
APPOINTMENT OF NOMINEE DIRECTOR. The Company undertakes and warrants that: • all acts required to be done by me in my capacity as Nominee Director shall comply with all laws affecting or binding on the Company; • all statements and documents that the Company requests me to sign are true and accurate; • the Company shall not use or quote my name in any document or transaction without my prior written consent; and • the Company shall keep proper accounts and will file all tax returns and all papers and documents which are required by law to be filed with any authority and all fees and taxes that are required by law to be paid by the Company shall be paid.
