Common use of Removal of Directors by Stockholders Clause in Contracts

Removal of Directors by Stockholders. The entire Board of Directors or any individual Director may be removed from office with or without cause by a majority vote of the holders of the outstanding shares then entitled to vote at an election of directors. In case the Board of Directors or any one or more Directors be so removed, new Directors may be elected at the same time for the unexpired portion of the full term of the Director or Directors so removed.

Appears in 2 contracts

Samples: Agreement of Merger and Plan of Reorganization (Numbeer, Inc.), Agreement and Plan of Merger (Ram Energy Resources Inc)

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Removal of Directors by Stockholders. The entire Board of Directors or any Any individual ------------------------------------ Director may be removed from office with or without assigning any cause by a majority the affirmative vote of the holders of a majority of the outstanding shares then entitled to vote at an election of directorselect such Director. In case the Board of Directors or any one or more Directors be are so removed, new Directors may be elected at the same time for the unexpired portion of the full term of the Director or Directors so removedtime.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Genvec Inc), Stock Purchase Agreement (Genvec Inc)

Removal of Directors by Stockholders. The entire Board of Directors or any Any individual Director ------------------------------------ may be removed from office with or without assigning any cause by a majority the affirmative vote of the holders of a majority of the outstanding shares then entitled to vote at an election of directorselect such Director. In case the Board of Directors or any one or more Directors be are so removed, new Directors may be elected at the same time for the unexpired portion of the full term of the Director or Directors so removedtime.

Appears in 1 contract

Samples: Stock Purchase Agreement (Genvec Inc)

Removal of Directors by Stockholders. The entire Board of Directors or any individual Director may be removed from office with or without cause by a majority vote of the holders of the outstanding shares then entitled to vote at an election of directorsDirectors. Notwithstanding the foregoing, if the Board of Directors is classified, stockholders may effect such removal only for cause. In case the Board of Directors or any one or more Directors be so removed, new Directors may be elected at the same time for the unexpired portion of the full term of the Director or Directors so removed.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Adit EdTech Acquisition Corp.)

Removal of Directors by Stockholders. The entire Board of Directors or any individual Director may be removed from office with or without cause by a majority the vote of the holders stockholders representing not less than two-thirds of the voting power of the issued and outstanding shares then stock entitled to vote at an election of directorsvote. Notwithstanding the foregoing, if the Corporation’s board is classified, stockholders may effect such removal only for cause. In case the Board of Directors or any one or more Directors be so removed, new Directors may be elected at the same time for the unexpired portion of the full term of the Director or Directors so removed.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Goal Acquisitions Corp.)

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Removal of Directors by Stockholders. The entire Board of Directors or any individual Director director, in each case other than the Series A Directors may be removed from office with or without cause by a majority vote of the holders of the outstanding shares then entitled to vote at an election of directors. In case the Board of Directors or any one or more Directors directors be so removedremoved (other than the Series A Directors), new Directors directors may be elected at the same time for the unexpired portion of the full term of the Director director or Directors directors so removed.

Appears in 1 contract

Samples: Securities Purchase Agreement (JetPay Corp)

Removal of Directors by Stockholders. The entire Board of Directors or any individual Director director may be removed from office with or without cause by a majority vote of the holders of the outstanding shares of Common Stock and Series B Preferred Stock, voting together as a single class, then entitled to vote at an election of directors. In case the Board of Directors or any one or more Directors directors be so removed, new Directors directors may be elected by such stockholders at the same time for the unexpired portion of the full term of the Director director or Directors directors so removed.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Parametric Sound Corp)

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