Common use of Right to Fill Certain Vacancies in Company's Board Clause in Contracts

Right to Fill Certain Vacancies in Company's Board. In the event that a vacancy is created on the Company’s Board of Directors at any time by the death, disability, retirement, resignation or removal (with or without cause) of a director subject to designation by BRS or if otherwise there shall exist or occur any vacancy on the Company’s Board of Directors in a directorship subject to designation by BRS, such vacancy shall not be filled by the remaining members of the Company’s Board of Directors, but each Investor and Permitted Transferee shall promptly consent in writing or vote or cause to be voted all shares of Common Stock entitled to vote thereon or any other voting capital stock of the Company now or hereafter owned or controlled by it to elect that individual designated to fill such vacancy and serve as a director, as shall be designated by BRS pursuant to Section 3.1.

Appears in 3 contracts

Samples: Securities Holders Agreement (DTLR Holding, Inc.), Securities Holders Agreement (DTLR Holding, Inc.), Securities Holders Agreement (DTLR Holding, Inc.)

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Right to Fill Certain Vacancies in Company's Board. In the -------------------------------------------------- event that a vacancy is created on the Company’s Board of Directors at any time by the death, disability, retirement, resignation or removal (with or without cause) of a director subject to designation Director designated by BRS a Strategic Partner, or if otherwise there shall exist or occur any vacancy on the Company’s Board of Directors in a directorship subject to designation by BRSa Strategic Partner, such vacancy shall not be filled by the remaining members of the Company’s Board of Directors, Directors but each Investor and Permitted Transferee shall holding shares of Common Stock hereby agrees promptly to consent in writing or vote or cause to be voted all shares of Common Stock entitled to vote thereon or any other voting capital stock of the Company now or hereafter owned or controlled by them or it to elect that individual designated to fill such vacancy and serve as a directorDirector, as shall be designated by BRS the Strategic Partner then entitled to designate such Director pursuant to Section 3.13.2.

Appears in 1 contract

Samples: Securities Holders Agreement (Internet Capital Group Inc)

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