Common use of Failure to Designate a Board Member Clause in Contracts

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 104 contracts

Samples: Investors’ Rights Agreement (PureTech Health PLC), Stockholders Agreement (Miso Robotics, Inc.), Investors’ Rights Agreement (PureTech Health PLC)

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Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible and willing to serve as provided hereinherein and otherwise, such Board seat shall remain vacant.

Appears in 24 contracts

Samples: Voting Agreement (Pacaso Inc.), Voting Agreement (PureTech Health PLC), Voting Agreement (BioPlus Acquisition Corp.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible willing to serve unless such individual has been removed as provided herein, and otherwise such Board seat shall remain vacant until otherwise filled as provided above.

Appears in 15 contracts

Samples: Stockholders Agreement (Rad Technologies Inc.), Investors’ Rights Agreement (PureTech Health PLC), Stockholders’ Agreement (Sunlight Financial Holdings Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 15 contracts

Samples: Voting Agreement (Constellation Alpha Capital Corp.), Divestiture Agreement (Ophthotech Corp.), Voting Agreement (Excellere Capital Group LLC)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected re-elected if still eligible to serve as provided herein.

Appears in 5 contracts

Samples: Subscription Agreement (Naqi Logix Inc.), Voting Agreement (Naqi Logix Inc.), Voting Agreement (Naqi Logix Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified abovein Section 4.1(b), the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 3 contracts

Samples: Stockholders Agreement (Centrexion Therapeutics Corp), Stockholders Agreement (Centrexion Therapeutics Corp), Stockholders Agreement (Centrexion Therapeutics Corp)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right a Stockholder to designate a director as specified above, the director previously designated by them it and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 3 contracts

Samples: Voting Agreement, Voting Agreement (Riedman Corp), Voting Agreement (Phoenix Footwear Group Inc)

Failure to Designate a Board Member. In the absence of any designation from of a Nominee as specified in Section 3.2 above, the Persons or groups Nominee previously designated by the Party with the right to designate a director as specified above, the director previously designated by them such Nominee and then serving shall be reelected re-nominated if still eligible to serve as provided hereina director.

Appears in 3 contracts

Samples: Shareholders Agreement (Green Plains Renewable Energy, Inc.), Shareholders' Agreement (NTR PLC), Merger Agreement (Green Plains Renewable Energy, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible and willing to serve as provided hereinherein (so long as the Persons or groups satisfy the applicable shareholding thresholds above) and otherwise, such Board seat shall remain vacant.

Appears in 3 contracts

Samples: Voting Agreement (Mode Mobile, Inc.), Voting Agreement (Mode Mobile, Inc.), Voting Agreement (Mode Mobile, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified aboveInvestor, the director previously designated by them Investor and then then-serving shall be reelected if still eligible to serve as provided herein.

Appears in 2 contracts

Samples: Voting Agreement (NCR Corp), Voting Agreement (Document Capture Technologies, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate of a director as specified aboveby the Investors or the Key Holders, the director previously designated by them the Investors or the Key Holders, as the case may be, and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Fuse Medical, Inc.), Voting Agreement (Fuse Medical, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director Director as specified above, the director Director previously designated by them and then serving shall be reelected if still eligible and willing to serve unless such individual has been removed as provided herein, and otherwise such Board seat shall remain vacant until otherwise filled as provided above.

Appears in 2 contracts

Samples: Series B Preferred Stock Purchase Agreement (Energy Exploration Technologies, Inc.), Voting Agreement (Energy Exploration Technologies, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons person or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 2 contracts

Samples: Voting and Board Observer Agreement (SlideBelts Inc.), Voting and Board Observer Agreement

Failure to Designate a Board Member. In the absence of any designation from the Persons persons or groups with the right to designate a director of Holdings as specified above, the director previously designated by them and then serving in service shall be reelected if still eligible renominated and elected to serve as provided hereinon the Board.

Appears in 2 contracts

Samples: Investor Rights Agreement (UANT Ventures, L.P.), Investor Rights Agreement (USMD Holdings, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons persons or groups with the right to designate a director as specified aboveabove (a “Designating Party”), the director previously designated by them such Designating Party and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 2 contracts

Samples: Stockholders Agreement (Resonant Inc), Exchange Agreement (Resonant Inc)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided pro-vided herein.

Appears in 2 contracts

Samples: Voting Agreement (DAVIDsTEA Inc.), Voting Agreement (DAVIDsTEA Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified aboveFounder, the director previously designated by them the Founder and then serving on the Board shall be reelected if still eligible and willing to serve as provided hereinherein and otherwise, such Board seat shall remain vacant.

Appears in 2 contracts

Samples: Stockholders’ Agreement (Rentberry Inc.), Stockholders’ Agreement (Rentberry Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director for election to the Board as specified above, the director previously designated by them and then serving shall be reelected nominated for reelection to the Board if still eligible and willing to serve as provided hereinherein and otherwise, such Board seat shall remain vacant.

Appears in 2 contracts

Samples: Stockholders’ Agreement (F45 Training Holdings Inc.), Stockholders' Agreement (F45 Training Holdings Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected redesignated if still eligible and willing to serve as provided hereinherein and otherwise, such Board seat shall remain vacant.

Appears in 2 contracts

Samples: Voting Agreement (Lowell Farms Inc.), Voting Agreement

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director Manager as specified above, the director Manager previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 2 contracts

Samples: Operating Agreement (Rhythm Holding Company, LLC), Operating Agreement (Rhythm Holding Company, LLC)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified abovein Section 1.2, the director previously designated by them and then serving shall be reelected if still eligible willing to serve unless such individual has been removed as provided herein, and otherwise such Board seat shall remain vacant until otherwise filled as provided above.

Appears in 2 contracts

Samples: Voting Agreement (Facible BioDiagnostics, Inc.), Voting Agreement (Facible BioDiagnostics, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director Director as specified above, the director Director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 2 contracts

Samples: Voting Agreement (Paylocity Holding Corp), Voting Agreement (Paylocity Holding Corp)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still willing and eligible to serve serve; otherwise such Board seat shall remain vacant until otherwise filled as provided hereinabove.

Appears in 2 contracts

Samples: Voting Agreement (Caribou Biosciences, Inc.), Voting Agreement (Caribou Biosciences, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein. If the incumbent director is unable or unwilling to continue to serve, the seat shall remain vacant until the Persons or groups entitled to do so designate a new director and such person is elected to the Board in the manner prescribed herein and in the Company’s Certificate.

Appears in 2 contracts

Samples: Voting Agreement (Basil Street Cafe, Inc.), Voting Agreement (Basil Street Cafe, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible and willing to serve as provided hereinherein and otherwise, or such Board seat shall remain vacant.

Appears in 2 contracts

Samples: Voting Agreement (Gryphon Online Safety, Inc.), Voting Agreement (Gryphon Online Safety, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified in Subsection 5.11(a) above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 2 contracts

Samples: Common Stock Purchase Agreement (Celsius Holdings, Inc.), Investors' Rights Agreement (Celsius Holdings, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein. The Stockholders agree to execute any written consents required to perform the obligations of this Agreement, and the Company agrees at the request of any party entitled to designate directors to call a special meeting of stockholders for the purpose of electing directors.

Appears in 1 contract

Samples: Stockholders' Agreement (Motorsport Gaming Us LLC)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right then entitled to designate a director as specified abovein Section 4.2, the director previously designated by them such Persons or groups and then serving shall be reelected the designee thereof if still such director shall be then eligible to serve as provided hereinin accordance with Section 4.2.

Appears in 1 contract

Samples: Stockholders' Agreement (Tropicana Las Vegas Hotel & Casino, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons Person(s) or groups with the right to designate a director as specified abovein Section 1.2, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Voting Agreement (Proto Labs Inc)

Failure to Designate a Board Member. In the absence of any designation from by the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving on the Board shall be reelected if still eligible and willing to serve as provided hereinherein and, otherwise, such Board seat shall remain vacant.

Appears in 1 contract

Samples: Voting Agreement and Proxy (Cuentas Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified abovePurchasers, the director directors previously designated by them Purchasers and then then-serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Voting Agreement (Sredl Gordan)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided pro­vided herein.

Appears in 1 contract

Samples: Voting Agreement

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups persons with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Voting Agreement

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected nominated for reelection if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Voting Agreement (Enumeral Biomedical Holdings, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons Nantascot or groups with the right to designate a director as specified aboveValuesetters, the director director(s) previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Stockholders Agreement (Kingscrowd LLC)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.herein.‌

Appears in 1 contract

Samples: Voting Agreement

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein. For purposes of this Agreement, "Person" shall mean an individual, firm, corporation, partnership, association, limited liability company, trust or any other entity.

Appears in 1 contract

Samples: Voting Agreement (FWHC Holdings, LLC)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall will be reelected if still eligible and willing to serve as provided hereinherein and otherwise, such Board seat will remain vacant.

Appears in 1 contract

Samples: Investor Rights Agreement (Generex Biotechnology Corp)

Failure to Designate a Board Member. In the absence of any designation from MPU or the Persons or groups Key Holder. with the right to designate a director directors as specified in Section 5(b) above, the director previously designated by them and then serving shall be reelected if still eligible and willing to serve as provided herein, and otherwise such seat shall remain vacant.

Appears in 1 contract

Samples: Shareholders Agreement (Mega Matrix Corp.)

Failure to Designate a Board Member. In the absence of any designation from the Person or group of Persons or groups with the right then entitled to designate a director as specified abovein Section 2.1, the director previously designated by them nominating and then serving governance committee of the Board, or such other committee of the Board as is fulfilling such function, shall be reelected if still eligible nominate a candidate to serve as provided hereinserve.

Appears in 1 contract

Samples: Voting Agreement (Veritone, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with Stockholders who have the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected re-elected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Voting Agreement (Virtuix Holdings Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible and willing to serve unless such individual has been removed as provided herein, and otherwise such Board seat shall remain vacant until otherwise filled as provided above.

Appears in 1 contract

Samples: Voting Agreement (Winc, Inc.)

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Failure to Designate a Board Member. In the absence of any designation from the Persons persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided pro-vided herein.

Appears in 1 contract

Samples: Voting Agreement (Lumera Corp)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups Party with the right to designate a director as specified above, the director previously designated by them such Party and then serving shall be reelected if still eligible and willing to serve as provided hereinherein and otherwise, such Board seat shall remain vacant.

Appears in 1 contract

Samples: Shareholder Agreement (Biotime Inc)

Failure to Designate a Board Member. In the absence of any designation from the Persons persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving whose term has expired shall be reelected re-elected if such person is then still eligible eligible, able and willing to serve as provided herein.

Appears in 1 contract

Samples: Voting Agreement (SEAVI Advent Equity v (A))

Failure to Designate a Board Member. In the absence of any designation from of Director Designees by the Persons or groups with the right to designate a director as specified abovePUB New Shareholders, the director Director Designees previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Shareholders Agreement (People's Utah Bancorp)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, each Holder shall vote their shares in favor of reelecting the director or directors previously designated by them and then serving shall be reelected serving, if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Voting Agreement (Applied BioSciences Corp.)

Failure to Designate a Board Member. In the absence of any designation from the Persons persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided pro­vided herein.

Appears in 1 contract

Samples: Voting Agreement

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director director(s) previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Stockholders' Agreement (Homeland Security Capital CORP)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein. Notwithstanding anything to the contrary contained in this Section 1.3, if the persons designated pursuant to Section 1.2(a)-(c) above cannot unanimously agree to designate, or nominate for election or reelection, a person pursuant to Section 1.2(d) above, a vacancy shall remain until such time as such persons can agree on such designee.

Appears in 1 contract

Samples: Voting Agreement (Kaspien Holdings Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified abovedirector, the director previously designated by them and then serving shall be reelected re-elected if still eligible and willing to serve as provided hereinherein and otherwise, such Board seat shall remain vacant until otherwise filled in accordance with the Articles.

Appears in 1 contract

Samples: Shareholder Agreement

Failure to Designate a Board Member. In the absence of any designation from the Persons Person(s) or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Stockholders’ Agreement (Histogenics Corp)

Failure to Designate a Board Member. In the absence of any designation from the Persons individual(s), business entity or groups entities, or group (“Person”) with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Stockholders’ Agreement (Innovega Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified abovein this Section 3, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Stockholders Agreement (Orogen Energy, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified abovein this Section 2, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Stockholders Agreement (Orogen Energy, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons persons or groups with the right to designate a director as specified abovein the Articles or otherwise herein, the director previously designated by them such persons or group and then serving shall be reelected if still eligible to serve as provided herein(except in the case of a CEO Director who is no longer the Company’s Chief Executive Officer).

Appears in 1 contract

Samples: Voting Agreement (Hylete)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director Investor as specified above, the director previously designated by them the Investor and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Voting Agreement (Citius Pharmaceuticals, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible and willing to serve as provided hereinherein and otherwise such Board seat shall remain vacant.

Appears in 1 contract

Samples: Voting Agreement (PureTech Health PLC)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified abovePurchasers, the Purchaser Designee director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein.

Appears in 1 contract

Samples: Voting Agreement (Bitzumi, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein. For purposes of this Agreement, “Person” shall mean an individual, firm, corporation, partnership, association, limited liability company, trust or any other entity.

Appears in 1 contract

Samples: Voting Agreement (H-Cyte, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the a Person or group of Persons or groups with the right to designate a director as specified abovein Section 2.2 (each, a “Designating Stockholder”), the director previously designated by them and individual then serving in such director position shall be reelected if still eligible willing to serve unless such individual has been removed as provided herein, and otherwise such Board seat shall remain vacant until filled as provided in this Article 2.

Appears in 1 contract

Samples: Stockholders Agreement (WeWork Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible and willing to serve as provided herein.herein and otherwise, such Board seat shall remain vacant.‌

Appears in 1 contract

Samples: Voting Agreement

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified aboveapplicable Stockholder(s), the director previously designated by them and then serving shall be reelected if still eligible and willing to serve as provided hereinherein and otherwise, such Board seat shall remain vacant.

Appears in 1 contract

Samples: Stockholders Agreement (Oramed Pharmaceuticals Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director New Holders as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided pro­vided herein.

Appears in 1 contract

Samples: Share Exchange Agreement (Asian Trends Media Holdings, Inc)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible and willing to serve as provided herein. Until such designee is chosen, the remaining members of the Board of Directors shall continue to operate as a fully functioning Board of Directors.

Appears in 1 contract

Samples: Investor Rights Agreement (Hc2 Holdings, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons Designating Company Equityholders that is acceptable to Parent (which approval shall not be unreasonably conditioned, withheld or groups with the right to designate a director as specified abovedelayed), the director previously designated by them and then serving shall be reelected if still eligible willing to serve unless such individual has been removed as provided herein, and otherwise such Board seat shall remain vacant until otherwise filled as provided above.

Appears in 1 contract

Samples: Voting Agreement (Crexendo, Inc.)

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups Person with the right to designate a director as specified abovein Section 1.2, the director previously designated by them such Person and then serving shall be reelected if still eligible and willing to serve as provided herein. Otherwise, such Board seat shall remain vacant.

Appears in 1 contract

Samples: Stockholder Agreement

Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still eligible and willing to serve as provided herein. Until such designee is chosen, the remaining members of the Board shall continue to operate as a fully functioning Board.

Appears in 1 contract

Samples: Stockholders Agreement (Blueprint Medicines Corp)

Failure to Designate a Board Member. In the absence of any designation from the Persons persons or groups with the right to designate a director as specified abovein Section 1.2, the director previously designated by them and then serving shall be reelected if still eligible and willing to serve as provided herein. Until such designee is chosen, the remaining members of the Board shall continue to operate as a fully functioning Board.

Appears in 1 contract

Samples: Stockholders Agreement (Poniard Pharmaceuticals, Inc.)

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