of March Racing, Ltd Sample Clauses

of March Racing, Ltd. The Company will form a company to be named March Racing, Ltd., or some other name as similar to March Racing, Ltd. as possible ("March Racing"). The parties agree to share equally the costs of formation of March Racing. Upon the formation of March Racing, the Company and March Group will each own 50% of the voting securities of March Racing. The Company and March Group will each appoint two (2) individuals to serve on the Board of Directors of March Racing. March Group will appoint Xxxxx Xxxx as the Chairman of the Board of Directors of March Group if Xx. Xxxx shall consent to the appointment to such position.
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