Selection of Nominees. (a) The Requisite Former Senior Noteholders shall have the right to designate six (6) nominees and DVI shall have the right to designate one (1) nominee for election to the Board of Directors of the Corporation provided the nominee of DVI shall be reasonably satisfactory to the Requisite Former Senior Noteholders. The rights of the Requisite Former Senior Noteholders under this SECTION 2.2 (and the obligations of the other Stockholders pursuant to SECTION 2.1) shall terminate at the earlier of (i) the effective date of the Corporation's Initial Post-Effective Public Offering or (ii) such time as the number of Shares owned by the Former Senior Noteholders is less than forty percent (40%) of the then issued and outstanding shares of Common Stock (excluding Excluded Securities) or (iii) a
Appears in 4 contracts
Samples: Voting Agreement (Peninsular Life Insurance Co /Fl/), Voting Agreement (Aegon Usa Investment Management Inc/Ia), Voting Agreement (American Bankers Insurance Co of Florida)
Selection of Nominees. (a) The Requisite Former Senior Noteholders shall have the right to designate six (6) nominees and DVI shall have the right to designate one (1) nominee for election to the Board of Directors of the Corporation provided the nominee of DVI shall be reasonably satisfactory to the Requisite Former Senior Noteholders. The rights of the Requisite Former Senior Noteholders under this SECTION Section 2.2 (and the obligations of the other Stockholders pursuant to SECTION Section 2.1) shall terminate at the earlier of (i) the effective date of the Corporation's Initial Post-Effective Public Offering or (ii) such time as the number of Shares owned by the Former Senior Noteholders is less than forty percent (40%) of the then issued and outstanding shares of Common Stock (excluding Excluded Securities) or (iii) a
Appears in 2 contracts
Samples: Voting Agreement (Hancock John Financial Services Inc), Voting Agreement (Liberty Life Insurance Co)
