Common use of Right to Appoint Observer Clause in Contracts

Right to Appoint Observer. Until the consummation of a Business Combination, upon notice from MJ to the Company, MJ shall have the right to send a representative (who need not be the same individual from meeting to meeting) to observe each meeting of the Board of Directors of the Company; provided that such representative shall sign a Regulation FD compliant confidentiality agreement which is reasonably acceptable to MJ and its counsel in connection with such representative's attendance at meetings of the Board of Directors; and provided further that upon written notice to MJ, the Company may exclude the representative from meetings where, in the written opinion of counsel for the Company, the representative's presence would destroy the attorney-client privilege. The Company agrees to give MJ written notice of each such meeting and to provide MJ with an agenda and minutes of the meeting no later than it gives such notice and provides such items to the other directors and to reimburse the representative of MJ for its reasonable out-of-pocket expenses incurred in connection with its attendance at the meeting, including but not limited to, food, lodging and transportation.

Right to Appoint Observer. Until the consummation of a Business Combination, upon notice from MJ to the Company, MJ shall have the right to send a representative (who need not be the same individual from meeting to meeting) to observe each meeting of the Board of Directors of the Company; provided that such representative shall sign a Regulation FD compliant confidentiality agreement which is reasonably acceptable to MJ and its counsel in connection with such representative's ’s attendance at meetings of the Board of Directors; and provided further that upon written notice to MJ, the Company may exclude the representative from meetings where, in the written opinion of counsel for the Company, the representative's ’s presence would destroy the attorney-client privilege. The Company agrees to give MJ written notice of each such meeting and to provide MJ with an agenda and minutes of the meeting no later than it gives such notice and provides such items to the other directors and to reimburse the representative of MJ for its reasonable out-of-pocket expenses incurred in connection with its attendance at the meeting, including but not limited to, food, lodging and transportation.