Common use of Removal and Substitution of Directors Clause in Contracts

Removal and Substitution of Directors. No party hereto shall vote for ------------------------------------- the removal of a director nominated and elected pursuant to Section 2.1 of this ----------- Agreement, and no such vote shall be effective, unless the Camden Purchasers, voting among themselves shall vote for the removal of such director. The Company hereby agrees to take such actions as are necessary, and the Stockholders agree to vote his, her or its shares of Common Stock and Series A Preferred Stock of the Company (and any other shares of the capital stock of the Company over which he, she or it exercises voting control) and take such other actions as are necessary, for the removal of any director nominated and elected pursuant to Section 2.1 upon the request of the Camden Purchasers and for the election to ----------- the Board of a substitute designated by such holders in accordance with the provisions of Sections 2.1. ------------

Appears in 1 contract

Samples: Stockholders Agreement (Camden Partners Strategic Ii LLC)

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Removal and Substitution of Directors. No party hereto shall vote for ------------------------------------- the removal of a director nominated and elected pursuant to Section 2.1 of this ----------- Agreement, and no such vote shall be effective, unless the Camden Purchasersholders of a majority of the outstanding Series A Preferred Stock, voting among themselves shall vote for the removal of such directorspecify. The Company hereby agrees to take such actions as are necessary, and the Stockholders agree to vote his, her or its shares of Common Stock and Series A Preferred Stock of the Company (and any other shares of the capital stock of the Company over which he, she or it exercises voting control) and take such other actions as are necessary, for the removal of any director nominated and elected pursuant to Section 2.1 upon the request of the Camden Purchasers holders of a majority of the outstanding shares of Series A Preferred Stock and for the election to ----------- the Board of a substitute designated by such holders in accordance with the provisions of Sections 2.1. ------------.

Appears in 1 contract

Samples: Stockholders Agreement (Camden Partners Strategic Ii LLC)

Removal and Substitution of Directors. No party hereto shall vote for ------------------------------------- the removal of a director nominated and elected pursuant to Section 2.1 of this ----------- Agreement, and no such vote shall be effective, unless the Camden Purchasersholders of a majority of the outstanding Series A Preferred Stock, voting among themselves shall vote for the removal of such directorspecify. The Company hereby agrees to take such actions as are necessary, and the Stockholders agree to vote his, her or its shares of Common Stock and Series A Preferred Stock of the Company (and any other shares of the capital stock of the Company over which he, she or it exercises voting control) and take such other actions as are necessary, for the removal of any director nominated and elected pursuant to Section 2.1 upon the request of the Camden Purchasers holders of a majority of the outstanding shares of Series A Preferred Stock and for the election to ----------- the Board of a substitute designated by such holders in accordance with the provisions of Sections 2.1. ------------.

Appears in 1 contract

Samples: Stockholders Agreement (Blue Rhino Corp)

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Removal and Substitution of Directors. No party hereto shall vote for ------------------------------------- the removal of a director nominated and elected pursuant to Section 2.1 of this ----------- Agreement, and no such vote shall be effective, unless the Camden Purchasers, voting among themselves shall vote for the removal of such director. The Company hereby agrees to take such actions as are necessary, and the Stockholders agree to vote his, her or its shares of Common Stock and Series A Preferred Stock of the Company (and any other shares of the capital stock of the Company over which he, she or it exercises voting control) and take such other actions as are necessary, for the removal of any director nominated and elected pursuant to Section 2.1 upon the request of the Camden Purchasers and for the election to ----------- the Board of a substitute designated by such holders in accordance with the provisions of Sections 2.1. ------------.

Appears in 1 contract

Samples: Shareholder Agreements (English Language Learning & Instruction System Inc)

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