Board of Directors of the Purchaser. The Purchaser shall take all such action as may be necessary to cause up to four (4) individuals nominated by the Seller and reasonably satisfactory to the Purchaser, to be appointed to the Board of Directors of the Purchaser as of the Closing (which, following such appointments shall consist of nine (9) directors), to serve until the next annual election of directors of the Purchaser.
Board of Directors of the Purchaser. (a) The current directors of the Purchaser will, subject to compliance with applicable corporate laws and the Purchaser’s Charter Documents, adopt resolutions appointing Xxxxxx De La Xxxxx and such other persons as the Target may advise to the board of directors of the Purchaser and accepting the resignation of Xxxxxx Xxxxx from the board of directors of the Purchaser, which appointments and resignations will be effective on Closing or, if applicable, ten days after the filing of a Schedule 14f-1 in accordance with the Transaction.
Board of Directors of the Purchaser. In connection with the Closing, the current director of the Purchaser will adopt resolutions increasing the size of the Purchaser’s board of directors to three (3) persons, and will appoint two nominees of the Target to the Purchaser’s board of directors, with such increase in number of directors and director appointments to be effective as of the Closing.
Board of Directors of the Purchaser. On or prior to the Closing Date, the current directors of the Purchaser will adopt resolutions appointing two (2) nominees of the Target and one (1) nominee of the Purchaser to the board of directors of the Purchaser and accepting the resignation of Xxxxx from the board of directors of the Purchaser, which appointments and resignation will be effective on the later of the Closing Date or ten days after the filing of a Schedule 14f-1 in connection with the Transaction.
Board of Directors of the Purchaser. The Board of Directors of the Purchaser (the “Board”) currently consists of three (3) members. Purchaser will cause its Board of Directors to be expanded to five (5) seats. Due to the expansion, there will be two (2) vacancies on the Board. Xx. Xxxxx Xxxxxxxx shall fill one vacancy, and Xx. Xxxxxxxx’x approved nominee (as defined herein) shall fill the other vacancy, and each shall serve on the Board of Directors for the 2005 term. Xx. Xxxxx Xxxxxxxx’s nominee must be approved by each member of the Board, provided approval may be withheld in each member’s sole discretion.
Board of Directors of the Purchaser. The Purchaser shall cause Xxxxxx Xxxxx to be elected to its Board of Directors effective as of the Closing, to serve until his successor shall be duly elected and qualified or until his earlier resignation, removal (which shall not be caused by Purchaser or its Affiliates, other than for “cause”, for a period of one year following the Closing) or death.
Board of Directors of the Purchaser. The Purchaser will have taken all corporate steps necessary such that, immediately after Closing, the board of directors of the Purchaser will be composed of six directors, three of whom will be nominated by the Vendor and acceptable to the Purchaser, acting reasonably.
Board of Directors of the Purchaser
