Common use of Borrower’s Board of Directors Clause in Contracts

Borrower’s Board of Directors. In accordance with the terms of the prior Loan Documents, Borrower and its Board of Directors have taken the following actions: a. Increased the number of members to the Borrower's Board of Directors to nine. b. Appointed five members selected by Lender and/or a company affiliated with the Lender, to the Borrower's Board of Directors. For so long as any amounts remain due hereunder or under any other Loan Documents, including the Notes, Borrower and its Board of Directors shall support in any election of directors by the shareholders of Borrower, those members appointed to the Board of Directors that were selected by Lender and/or its affiliates. Further, Lender and/or its affiliates shall have the right to select a replacement director for any member of the Borrower’s Board of Directors that was selected by either Lender or its affiliates who resigns or otherwise fails to serve as a director.

Borrower’s Board of Directors. In accordance with the terms of the prior Loan DocumentsCommitment, Borrower and its Board of Directors have taken the following actions: a. Increased the number of members to the Borrower's Board of Directors to nine. b. Appointed five members selected by Lender and/or Fronteer Capital, Inc. ("Fronteer"), a company affiliated with the Lender, to the Borrower's Board of Directors. For so long as any amounts remain due hereunder or under any other Loan Documents, including the Notes, Borrower and its Board of Directors shall support in any election of directors by the shareholders of Borrower, those members appointed to the Board of Directors that were selected by Lender and/or its affiliatesor Fronteer. Further, Lender and/or its affiliates Fronteer shall have the right to select a replacement director for any member of the Borrower’s 's Board of Directors that was selected by either Lender or its affiliates of Fronteer who resigns or otherwise fails to serve as a director.