Of Strand Sample Clauses

Of Strand. As of the First Closing, the individuals serving as the directors of Venaxis under Section 2.5(a) shall be elected to serve as the directors of Strand and each Strand Subsidiary. From and after the First Closing, and until the Second Closing is consummated, if any replacement director is required for Strand or any Strand Subsidiary, the Venaxis Board of Directors shall nominate a successor. Such nominee(s) shall then be elected by the then shareholders of Strand, including Venaxis, by a plurality vote. To the extent necessary to effectuate the foregoing, Venaxis shall enter into one or more voting agreements with the Remaining Shareholders. Without limiting the foregoing, as of and after the First Closing, Strand and each of the Strand Subsidiaries shall be a direct or indirect Subsidiary of Venaxis, and operated as part of the consolidated company under the ultimate authority of the Board of Directors of Venaxis, as constituted under Section 2.5(a) above.
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Related to Of Strand

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