Independent Board of Directors. The Company covenants and agrees that no later than (i) 180 days following the Closing Date and (ii) 30 days following the Effective Date, the Board of Directors of the Company shall be comprised of a majority of “independent directors” as such term is defined in NASDAQ Marketplace Rule 4200(a)(15).
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Samples: Securities Purchase Agreement (Asian Financial Inc), Securities Purchase Agreement (Asian Financial Inc), Securities Purchase Agreement (Asian Financial Inc)
Independent Board of Directors. The Company covenants and agrees that no later than (i) 180 120 days following the Closing Date and (ii) 30 days following the Effective Date, the Board of Directors of the Company shall be comprised of a minimum of five members, a majority of which shall be “independent directors” as such term is defined in NASDAQ Marketplace Rule 4200(a)(15).
Appears in 2 contracts
Samples: Securities Purchase Agreement (Irish Mag, Inc.), Securities Purchase Agreement (Intra Asia Entertainment Corp)
Independent Board of Directors. The Company covenants and agrees that no later than (i) 180 90 calendar days following from the Closing Date and (ii) 30 days following the Effective Date, the Board of Directors of the Company shall be comprised of a minimum of five members, a majority of which shall be “independent directors” as such term is defined in NASDAQ Marketplace Rule 4200(a)(15)) or in American Stock Exchange Company Guide Section 803.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Sino Clean Energy Inc), Securities Purchase Agreement (Sino Clean Energy Inc)
Independent Board of Directors. The Company covenants and agrees that no later than (i) 180 150 days following the Closing Date and (ii) 30 days following the Effective Date, the Board of Directors of the Company shall be comprised of a minimum of five members, a majority of which shall be “independent directors” as such term is defined in NASDAQ Marketplace Rule 4200(a)(15).
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Independent Board of Directors. The Company covenants and agrees that no later than (i) 180 120 days following the Closing Date and (ii) 30 days following the Effective Datedate of this Agreement, the Board of Directors of the Company shall be comprised of a minimum of five members, a majority of which shall be “independent directors” as such term is defined in NASDAQ Marketplace Rule 4200(a)(15).
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