Appointment Rights Sample Clauses

Appointment Rights. If requested by the DIP Lender, the Borrowers shall cause one Person designated by the DIP Lender to be designated or appointed as one of the Borrowers’ designees to the board of directors of each homeowner’s or property owner’s association, provided that any Person so designated by the DIP Lender meets the necessary eligibility criteria for membership on any such board. After the occurrence and during the continuance of an Event of Default, the DIP Lender shall be entitled, in the place and stead of the Borrowers, to exercise all the Borrowers’ developer’s rights with respect to the Project, any such association, any municipal utility district, TIRZ or other similar association or entity, including the right to appoint and to remove directors from the board of directors of any such association. After the occurrence and during the continuance of an Event of Default, if so requested by the DIP Lender any or all of resignations that have been delivered pursuant to Section 4.1(a)(vii) shall become effective. Without the prior written consent of the DIP Lender, the Borrowers will not take any action to amend or modify any agreement with any municipal utility district, any TIRZ or any property owners’ or home owner’s association or other similar entity or take any other action that would restrict, or result in a restriction upon the ability of the DIP Lender (or any purchaser acquiring the Project from the DIP Lender in a foreclosure sale) to exercise those rights after the occurrence and during the continuance of an Event of Default or following a foreclosure by the DIP Lender.

Appointment Rights. (a) Ambipar shall be entitled to nominate a number of designees to the Board of Directors by written notice served upon the Company, as set forth below: (i) for so long as the aggregate voting power of Class B Common Shares held by Ambipar continues to be at least fifty percent (50%) of the total voting power of all shares, then Ambipar shall be entitled to nominate at least the majority of the Directors; provided that at least one (1) out of such Directors shall qualify as an Independent Director pursuant to Rule 10A-3 under the Exchange Act and shall also be appointed as a member of the Audit Committee; provided, further, that if more than one Director nominated by Ambipar shall be appointed as a member of the Audit Committee, such member shall also qualify as an Independent Director pursuant to Rule 10A-3 under the Exchange Act should the applicable rules and regulations so require; and (ii) for so long as the aggregate voting power of Class B Common Shares held by Ambipar continues to be at least twenty-five percent (25%), but less than fifty percent (50%), of the total voting power of all shares, then Ambipar shall be entitled to nominate at least one-third of the Directors to the Board of Directors. (b) For so long as the Sponsor is subject to the transfer restrictions with respect to its Class A Common Shares pursuant to the terms of the Investor Rights Agreement, the Sponsor shall be entitled to nominate one Director by written notice served upon the Company; provided that such Sponsor Director shall qualify as an Independent Director. The Sponsor Director shall also be appointed as a member of the Audit Committee, provided that the Sponsor Director shall be considered an Independent Director pursuant to Rule 10A-3 under the Exchange Act. (c) For so long as Opportunity shall hold at least fifty percent (50%) of the Class A Common Share voting power held by Opportunity immediately after Closing (as defined in the Business Combination Agreement), Opportunity shall be entitled to nominate one Director by written notice served upon the Company.

Appointment Rights. The RedFish-Shares conveyed to DataD under this Agreement grant to DataD the sole, exclusive, and unilateral right to appoint at DataD’s discretion, no less than two directors to serve on the board of directors for RedFish (“DataD’s RedFish-Directors”).

Appointment Rights. For so long as the Subscriber owns 10% or more of the issued and outstanding Shares, the Subscriber shall have the right to appoint one director to the Board, provided that such appointee must meet the Required Board Criteria.

Appointment Rights. Subject to Section 6.02(b), if, but only if, the Beneficial Owner of the Class A Interest has appointed all of the directors that such Beneficial Owner is entitled to appoint, such Beneficial Owner shall have the right to instruct the Class A Designated Directors to cause the immediate appointment of one half of the directors, or equivalent positions, of each subsidiary of the Trust other than subsidiaries of Azurix Europe. In any subsidiary (the "Subject Subsidiary") of the Trust where the Beneficial Owner of the Class A Interest has failed to cause the appointment of all the directors (or equivalent positions) that such Beneficial Owner has the right to appoint, the right of the directors of the Subject Subsidiary who represent such Beneficial Owner to appoint directors in any lower-tier subsidiary shall be suspended until the Beneficial Owner of the Class A Interest causes the appointment of all of the directors of the Subject Subsidiary that such Beneficial Owner is entitled to appoint.

Appointment Rights. Holders representing a majority of the total Existing Principal Amount advanced under the Initial Financing Debentures and Subsequent Financing Debentures shall have the right to nominate two (2) individuals to serve on the Board of Directors of the Company and/or two (2) individuals to serve as observers to the Board of Directors of the Company. The Company shall use its best efforts to cause the individuals named in the preceding sentence to serve in the capacities indicated within two (2) weeks of such individuals being named.

Appointment Rights. Subject to Section 5.1(d), the right of any Investor to appoint and remove any Investor Director and the CEO (as applicable) under Article 1 shall not be assigned to any other Person.

Appointment Rights. For so long as the Purchaser owns 4.4% or more of the Company’s issued and outstanding Voting Shares, the Purchaser shall have the right to appoint one (1) manager to the Board, provided that such appointee must be a resident of the United States and must comply with the reasonable requirements applicable to managers of the Company set forth in the Operating Agreement. For so long as the Purchaser owns 4.4% or more of the Company’s issued and outstanding Voting Shares, the Purchaser shall have the right to appoint one (1) non-voting observer to the Board, provided that such appointee must comply with any reasonable requirements set by the Company for Board observers (including any policies with respect to limiting such observers’ access to Board proceedings and materials).

Appointment Rights. Each Member purchasing at least 15,000 and no more than 39,999 Units from the Company in the Company’s initial offering registered with the Securities and Exchange Commission shall be entitled to appoint one (1) Director to the Company’s Board of Directors; and each Member purchasing 40,000 or more Units from the Company in the Company’s initial offering registered with the Securities and Exchange Commission shall be entitled to appoint two (2) Directors to the Company’s Board of Directors.