PS Director. Any holder of Preferred Shares will have the right to nominate a candidate for the position of PS Director, each of them a “Nominee”. The Parent will provide to the holders of the Preferred Shares a list of such Nominees who indicate a willingness to serve as PS Director, each of them a “Candidate”. The Candidate receiving the votes representing a plurality of the outstanding Preferred Shares will become the PS Director upon election. The PS Director will serve until replaced by a plurality vote of the outstanding Preferred Shares at a meeting where a quorum (which is a majority of Preferred Shares) is present.
Appears in 2 contracts
Samples: Convertible Preferred Stock Purchase Agreement (TWO RIVERS WATER & FARMING Co), Convertible Preferred Stock Purchase Agreement (TWO RIVERS WATER Co)
PS Director. Any holder of Preferred Shares will have the right to nominate a candidate for the position of PS Director, each of them candidate a “Nominee”. The Parent will provide to the holders of the Preferred Shares a list of such Nominees who indicate a willingness to serve as PS Director, each of them a “Candidate”. The Candidate receiving the votes representing a plurality of the outstanding Preferred Shares will become the PS Director upon election. The PS Director will serve until replaced by a plurality vote of the outstanding Preferred Shares at a meeting where a quorum (which is a majority of Preferred Shares) is present.
Appears in 2 contracts
Samples: Conversion Agreement (TWO RIVERS WATER & FARMING Co), Conversion Agreement (TWO RIVERS WATER & FARMING Co)
PS Director. Any holder of Preferred Shares will have the right to nominate a candidate for the position of PS Director, each of them a “Nominee”. The Parent will provide to the holders of the Preferred Shares a list of such Nominees who indicate a willingness to serve as PS Director, each of them a “Candidate”. The Candidate receiving the votes representing a plurality of the outstanding Preferred Shares will become the PS Director upon election. The PS Director will serve until replaced by a plurality vote of the outstanding Preferred Shares at a meeting where a quorum (which is a majority of Preferred Shares) is present.. SECTION 3 Representations and Warranties of the Company The Company represents and warrants to the Buyer that as of Closing: 3.1
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