Election of Subsidiary Directors. The Corporation will cause the board of directors of BRP to consist at all times of the same members as the Board at such time. The Board shall determine the composition of the board of directors of any other subsidiary of the Corporation, provided that if at any time an Investor Group becomes entitled to nominate or designate members of the board of any other subsidiary of the Corporation (or if such Investor Group’s nominee is de facto appointed to such board of directors), then all other Investor Groups that then have a right under Section 2.1 to designate members of the Board will be provided rights to designate members of the board of such subsidiary and the board of such subsidiary will be comprised as agreed by all Investor Groups then entitled to designate members of the Board (but if all Investor Groups fail to so agree the Corporation will, at the request of any Investor Group, cause the board of such other subsidiaries to consist of the same members as the Board at such time). The Corporation will cause its subsidiaries to comply with these requirements.
Election of Subsidiary Directors. At each annual meeting of the stockholders or members of the Company’s subsidiaries, or at each special meeting of the stockholders or members of the Company’s subsidiaries involving the election of directors or managers of the Company’s subsidiaries’ boards of directors/managers (the “Subsidiary Boards”), and at any other time at which stockholders or members of the Company’s subsidiaries shall have the right to or shall vote for or render consent in writing regarding the election of the members of the Subsidiary Boards, then, and in each such event, the Company covenants and agrees, so long as the Series D Investors collectively own at least 2,000,000 shares (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or similar recapitalization with respect to the Common Stock or the Series D Preferred Stock) of (i) the Series D Preferred Stock, (ii) the Common Stock issued upon conversion of the Series D Preferred Stock or (iii) any combination of the Series D Preferred Stock and the Common Stock, to vote all shares or other equity interests of the Company’s subsidiaries presently owned or hereafter acquired by it or its subsidiaries (whether owned of record or over which it or its Affiliates (as defined in the Purchase Agreement) exercise voting control) in favor of the following actions:
Election of Subsidiary Directors. The Corporation and the Shareholders hereby agree to cause the board of directors of each Subsidiary, including, without limitation, Dollar Express, to consist of five individuals and to cause to be nominated and elected to serve as members of the board of directors of any Subsidiary two individuals which shall be selected for nomination by the Investors holding a majority of the outstanding shares of Series A Preferred Stock, and three individuals which shall be selected for nomination by the holders of a majority of the outstanding shares of Common Stock. The Corporation and the Shareholders agree that no director of a Subsidiary selected for nomination by the Investors may be removed unless such removal is approved by the holders of a majority of the outstanding shares of Series A Preferred Stock and that no director of a Subsidiary selected for nomination by the holders of Common Stock may be removed unless such removal is approved by the holders of a majority of the outstanding shares of Common Stock. The Corporation and the Shareholders agree that any vacancy on the board of directors of any Subsidiary, whether occurring through resignation, removal or otherwise, shall be filled with an individual selected by the same group of Shareholders who selected the individual whose resignation, removal or other action or omission resulted in such vacancy, and that the Corporation and the Shareholders shall cause such individual to be nominated and elected to serve on the board of directors of the applicable Subsidiary as soon as practicable.
Election of Subsidiary Directors. Busco shall be entitled to designate 40% of the Board of each subsidiary of the Company (other than Transportation which is dealt with in Section 2.07) for so long as Busco is entitled to designate two or more directors of the Company.
