Termination of Rights and Obligations. The right of any Stockholder to nominate or designate a member or members of the Board pursuant to this Article II, and all related obligations of the Company and each other Stockholder with respect thereto contained in this Article II, shall terminate on the later of such date as such Stockholder (i) ceases to beneficially own in the aggregate at least 5% of the shares of Company Common Stock then issued and outstanding and (ii) ceases to beneficially own at least 75% of the Company Common Stock set forth opposite such Stockholder's name on Appendix I (appropriately adjusted for stock splits, dividends or combinations of shares of Company Common Stock after the IPO); provided that the provisions of Section 4.5 shall survive the termination of this Agreement.
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Samples: Stockholders Agreement (Crown Media Holdings Inc), Stockholders Agreement (Crown Media Holdings Inc), Stockholders Agreement (Henson Jim Co Inc)
Termination of Rights and Obligations. The right of any each Stockholder to nominate or designate a member or members of the Board pursuant to this Article II, and all related obligations of the Company and each other Stockholder with respect thereto contained in this Article II, shall terminate on the later of such date as such Stockholder (i) ceases to beneficially own in the aggregate at least 5% of the shares of Company Common Stock then issued and outstanding and (ii) ceases to beneficially own at least 75% of the Company Common Stock set forth opposite such Stockholder's name on Appendix I (appropriately adjusted for stock splits, dividends or combinations of shares of Company Common Stock after the IPO); provided that the provisions of Section 4.5 shall survive the termination of this Agreement.
Appears in 2 contracts
Samples: Stockholders Agreement (Visn Management Corp), Stockholders Agreement (Crown Media Holdings Inc)
Termination of Rights and Obligations. The right of any each Stockholder to nominate or designate a member or members of the Board pursuant to this Article II, and all related obligations of the Company and each other Stockholder with respect thereto contained in this Article II, shall terminate on the later of such date as such Stockholder (i) ceases to beneficially own in the aggregate at least 5% of the shares of Company Common Stock then issued and outstanding and (ii) ceases to beneficially own at least 75% of the Company Common Stock set forth opposite such Stockholder's name on Appendix I (appropriately adjusted for stock splits, dividends or combinations of shares of Company Common Stock after the IPO); provided PROVIDED that the provisions of Section 4.5 shall survive the termination of this Agreement.
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