Board Observation Rights. For so long as CIT/VC or any member of the CIT/VC Group is a holder of Shares, CIT/VC shall have the right to appoint a designee as an observer to the Board of Directors. For so long as Benefit Capital Management Corporation is a holder of Shares, Benefit Capital Management Corporation shall have the right to appoint a designee as an observer to the Board of Directors. For so long as New York Life Insurance Company is a holder of Shares, New York Life Insurance Company shall have the right to appoint a designee as an observer to the Board of Directors. For so long as they hold observation rights under this Section 5.4, each of CIT/VC, Benefit Capital Management and New York Life Insurance Company shall be given notice of all such meetings at the same time and in the same manner as Directors of the Company are informed.
Appears in 4 contracts
Samples: Stock Purchase Agreement (Diversa Corp), Stockholders' Agreement (Diversa Corp), Stock Purchase Agreement (Diversa Corp)
