Common use of Right to Appoint Observer Clause in Contracts

Right to Appoint Observer. Until the consummation of a Business Combination, upon notice from Morgan Joseph & Co. to the Company, Morgan Joseph & Co. shall have the xxxxx xx xxxd a representative (who xxxx xxx xx 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 Morgan Joseph & Co. and its counsel in connection with such representaxxxx'x xxxxxxance at meetings of the Board of Directors; and provided further that upon written notice to Morgan Joseph & Co., the Company may exclude the representative from mxxxxxxx xxxxx, in the written opinion of counsel for the Company, the representative's presence would destroy the attorney-client privilege. The Company agrees to give Morgan Joseph & Co. written notice of each such meeting and to provide Xxxxxx Xxxxxh & Co. with an agenda and minutes of the meeting no later xxxx xx xxxxs such notice and provides such items to the other directors and to reimburse the representative of Morgan Joseph & Co. for its reasonable out-of-pocket expenses incurred xx xxxxxxxxxn 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 Morgan Joseph & Co. to the Company, Morgan Joseph & Co. shall have the thx xxxxx xx xxxd xxnd a representative (who whx xxxx xxx xx 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 Morgan Joseph & Co. and its counsel in connection with such representaxxxx'x xxxxxxance representxxxxx'x xxxxxdance at meetings of the Board of Directors; and provided further that upon written notice to Morgan Joseph & Co., the Company may exclude the representative from mxxxxxxx xxxxxxxxxxxxx xxxxe, in the written opinion of counsel for the Company, the representative's presence would destroy the attorney-client privilege. The Company agrees to give Morgan Joseph & Co. written notice of each such meeting and to provide providx Xxxxxx Xxxxxh Xxxxph & Co. with an agenda and minutes of the meeting no later latex xxxx xx xxxxs xxxes such notice and provides such items to the other directors and to reimburse the representative of Morgan Joseph & Co. for its reasonable out-of-pocket expenses incurred incurrex xx xxxxxxxxxn xxxxxxxxon with its attendance at the meeting, including but not limited to, food, lodging and transportation.