Common use of Director Designee Clause in Contracts

Director Designee. (a) So long as Special Situations Fund III, L.P. (“SSF”) and/or one or more of its Affiliates collectively are the beneficial owners of at least 25% of the Shares originally purchased by SSF and its Affiliates hereunder (as appropriately adjusted for any stock split, combinations, recapitalization or similar event), SSF shall have the right to designate one person for election to the board of directors of the Company (the “SSF Designee”). The Company shall use its commercially reasonable efforts to cause the SSF Designee to be elected to the Company’s board of directors. SSF shall have the right to remove or replace any SSF Designee by giving notice to such SSF Designee and the Company. The Company shall use its commercially reasonable efforts to effect the removal or replacement of any such SSF Designee.

Appears in 1 contract

Samples: Purchase Agreement (Unify Corp)

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Director Designee. (a) So long as Special Situations Fund III, L.P. (“SSF”) and/or one or more of its Affiliates collectively are the beneficial owners of at least 25% of the Shares originally purchased by SSF and its Affiliates hereunder (as appropriately adjusted for any stock split, combinations, recapitalization or similar event)own Notes, SSF shall have the right to designate one person for election to the board of directors of the Company (the “SSF Designee”). The Company shall use its commercially reasonable efforts to cause the SSF Designee to be elected to the Company’s board of directors. SSF shall have the right to remove or replace any SSF Designee by giving notice to such SSF Designee and the Company. The Company shall use its commercially reasonable efforts to effect the removal or replacement of any such SSF Designee.

Appears in 1 contract

Samples: Purchase Agreement (Visual Networks Inc)

Director Designee. (a) So long as Special Situations Fund III, L.P. ("SSF") and/or one or more of its Affiliates collectively are the beneficial owners of at least 2510% of the Shares originally purchased by SSF and its Affiliates hereunder outstanding Common Stock (as appropriately adjusted for any stock split, combinations, recapitalization or similar eventdetermined in accordance with Rule 13d-3 under the 1934 Act), SSF shall have the right to designate one person for election to the board of directors of the Company (the "SSF Designee"). The Company shall use its commercially reasonable efforts to cause the SSF Designee to be elected to the Company’s 's board of directors. SSF shall have the right to remove or replace any SSF Designee by giving notice to such SSF Designee and the Company. The Company shall use its commercially reasonable efforts to effect the removal or replacement of any such SSF Designee.

Appears in 1 contract

Samples: Purchase Agreement (WPCS International Inc)

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Director Designee. (a) So Commencing on the Closing, so long as Special Situations Fund III, L.P. ("SSF") and/or one or more of its Affiliates collectively are the beneficial owners of at least 2514% of the Shares originally purchased by SSF and its Affiliates hereunder outstanding Common Stock (as appropriately adjusted for any stock split, combinations, recapitalization or similar eventdetermined in accordance with Rule 13d-3 under the 1934 Act), SSF shall have the right to designate one person for election to the board of directors of the Company (the "SSF Designee"). The Company shall use its commercially reasonable efforts to cause the SSF Designee to be elected to the Company’s 's board of directors. SSF shall have the right to remove or replace any SSF Designee by giving notice to such SSF Designee and the Company. The Company shall use its commercially reasonable efforts to effect the removal or replacement of any such SSF Designee.

Appears in 1 contract

Samples: Purchase Agreement (Goamerica Inc)

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