Notification Regarding Directors Sample Clauses
The Notification Regarding Directors clause requires a company to formally inform relevant parties about changes to its board of directors. This typically involves notifying shareholders, regulatory authorities, or contractual partners when a director is appointed, resigns, or is removed. For example, if a director steps down, the company must promptly send written notice to all stakeholders as specified in the agreement. The core function of this clause is to ensure transparency and keep all interested parties updated on the company's governance, thereby reducing the risk of miscommunication or unauthorized actions.
Notification Regarding Directors. The Investor Stockholders shall notify the Company in writing of each proposed Appointed Director a reasonable time in advance of any action taken for the purpose of electing or appointing such Appointed Director, to fill a vacancy and of the mailing of any proxy statement, information statement or registration statement in which any Board nominee or Board member of the Company would be named (which in the event of any proxy statement relating to an annual meeting of stockholders of the Company shall be no later than 30 days prior to the first anniversary of the mailing of the proxy statement related to the previous year’s annual meeting of stockholders), together with all information concerning such nominee reasonably requested by the Company, so that the Company may determine whether such nominee complies with the above qualifications and so that the Company can comply with applicable disclosure rules; provided that in the absence of such notice, the Investor Stockholders shall be deemed to have designated or nominated the same Investor Directors as set forth in the most recent notice delivered to the Company pursuant to this Section 2.1(f).