Common use of Removal of Directors and Vacancies Clause in Contracts

Removal of Directors and Vacancies. Directors may be removed at any time with or without cause, provided that no Stockholder shall vote for the removal of a director nominated and elected pursuant to this Agreement, and no such vote shall be effective, unless the parties who nominated such director, voting among themselves in accordance with Section 1.3, shall so specify. If such parties do so specify the removal of a director, the Stockholders agree to vote all shares of capital stock of the Company owned by them, or as to which they have voting power, for the removal of such director. If a vacancy occurs on the Board of Directors, the remaining directors shall immediately elect the nominee of the group that nominated the departing director. If the remaining directors fail for any reason to elect such nominee, the Company or the Stockholders shall cause a Stockholders' meeting to be held at the earliest practicable date, at which meeting the Stockholders shall vote, pursuant to this Agreement, all shares of capital stock of the Company owned by them, or as to which they have voting power, for such nominee.

Appears in 1 contract

Samples: Voting Agreement (Surfnet Media Group Inc)

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Removal of Directors and Vacancies. Directors may be removed at any time with or without cause, provided that no Stockholder shall vote for the removal of a director Director nominated and elected pursuant to this Agreement, and no such vote shall be effective, unless the parties party who nominated such director, voting among themselves in accordance with Section 1.3, Director shall so specifyvote for such removal. If such parties do so specify the removal of a directorDirector, the Stockholders agree to vote all shares of capital stock of the Company Common Stock owned by them, or as to which they have voting power, for the removal of such directorDirector. If a vacancy occurs on the Board of Directors, the remaining directors Directors shall immediately elect the nominee of the group party that nominated the departing directorDirector. If the remaining directors Directors fail for any reason to elect such nominee, the Company or the Stockholders shall cause a Stockholders' meeting Stockholders'meeting to be held at the earliest practicable date, at which meeting the Stockholders shall vote, pursuant to this Agreement, all shares of capital stock of the Company Common Stock owned by them, or as to which they have voting power, for such nominee.

Appears in 1 contract

Samples: Stock Purchase Agreement (Film & Music Entertainment, Inc.)

Removal of Directors and Vacancies. Directors may be removed at any time with or without cause, provided provided, that no Stockholder party hereto shall vote for the removal of a director nominated and elected pursuant to this Agreement, and no such vote shall be effective, unless the parties who nominated such director, voting among themselves in accordance with Section 1.34.1 above, shall so specify. If such parties do so specify the removal of a director, the Stockholders other parties agree to vote all shares of capital stock of the Company Shares owned by them, or as to which they have voting power, for the removal of such director. If a vacancy occurs on the Board of Directors, the remaining directors shall immediately elect the nominee of the group that nominated the departing director. If the remaining directors fail for any reason to elect such nominee, the Company or the Stockholders other parties shall cause a Stockholders' shareholders’ meeting to be held at the earliest practicable date, at which meeting the Stockholders other parties shall vote, pursuant to this Agreement, all shares of capital stock of the Company Shares owned by the them, or as to which they have voting power, for such nominee.

Appears in 1 contract

Samples: Investors’ Rights Agreement (Northstar Neuroscience, Inc.)

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Removal of Directors and Vacancies. Directors may be removed at any time with or without cause, provided that no Stockholder Shareholder shall vote for the removal of a director nominated and elected pursuant to this Agreement, and no such vote shall be effective, unless the parties who nominated such director, voting among themselves in accordance with Section 1.31.4, shall so specify. If such parties do so specify the removal of a director, the Stockholders Shareholders agree to vote all shares of capital stock of the Company owned by them, or as to which they have voting power, for the removal of such director. If a vacancy occurs on the Board of Directors, the remaining directors shall immediately elect the nominee of the group that nominated the departing director. If the remaining directors fail for any reason to elect such nominee, the Company or the Stockholders Shareholders shall cause a Stockholdersshareholders' meeting to be held at the earliest practicable date, at which meeting the Stockholders Shareholders shall vote, pursuant to this Agreement, all shares of capital stock of the Company owned by them, or as to which they have voting power, for such nominee.

Appears in 1 contract

Samples: Voting Agreement (Amazon Com Inc)

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