Common use of SUSPENSION OF RIGHT TO DESIGNATE DIRECTORS Clause in Contracts

SUSPENSION OF RIGHT TO DESIGNATE DIRECTORS. Notwithstanding anything to the contrary contained in this Agreement, the right of the PCP Entities or Trace to designate directors of the Company shall be suspended at such time as either: (a) such Restricted Stockholder's Beneficial Ownership in the Company (with respect to the PCP Entities, their Adjusted Beneficial Ownership) is reduced below 10%; or (b) in the case of the PCP Entities, if either (i) they are in default of Section 5.2(b) other than as a result of the death, incapacity, or capture and detention of Mr. Penske, or (ii) one or both of the PCP Entities has requested that the Company repurchase all or a portion of its Restricted Securities pursuant to the terms of the Securities Purchase Agreement.

SUSPENSION OF RIGHT TO DESIGNATE DIRECTORS. Notwithstanding anything to the contrary contained in this Agreement, the right of the PCP Entities or Trace to designate directors of the Company shall be suspended at such time as either: (a) A. such Restricted Stockholder's Beneficial Ownership in the Company (with respect to the PCP Entities, their Adjusted Beneficial Ownership) is reduced below 10%; or (b) or B. in the case of the PCP Entities, if either (i) they are in default of Section 5.2(b) other than as a result of the death, incapacity, or capture and detention of Mr. Penske, or (ii) one or both of the PCP Entities has requested that the Company repurchase all or a portion of its Restricted Securities pursuant to the terms of the Securities Purchase Agreement.