Appointment of New Directors. Simultaneously, with the Closing of the transactions contemplated by this Agreement, the existing director(s) of Wireless and Merger Sub shall resign, and shall appoint five persons designated by the Company or the Company Stockholders prior to the Closing Date, to serve as the sole directors of Wireless and the Surviving Corporation of the Merger from and after the Closing Date.
Appointment of New Directors. The Company agrees that the Board of Directors of the Company (the “Board”) will, effective as soon as practicable after the date of this Agreement, following, and subject to, the satisfactory completion of customary background checks and the Company’s standard directors and officers questionnaire, appoint both Xxxxx Xxxxx and Xxxxxxxx Xxxxx (each, a “New Director” and, collectively, the “New Directors”) as a Company director. Simultaneously with the appointment of the New Directors to the Board, the size of the Board will be increased to twelve (12) directors. The Board, based on preliminary information provided by Investor and the New Directors, believes that each New Director (i) qualifies as an “independent director” under the applicable rules of the Nasdaq Global Select Market and the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”), (ii) satisfies the guidelines and policies with respect to service on the Board applicable to all non-management directors (including the requirements set forth in Section 1(i)(iii) hereof) and (iii) has no prior relationship with Investor, its principals (including serving as a nominee on a board of directors with any of Investor’s principals) or any of its Affiliates (as hereinafter defined).
Appointment of New Directors. At closing the directors of Oxford will resign and Oxford will appoint new directors to fulfil the terms of the resigning directors.
Appointment of New Directors. At the Closing, (i) DED’s designees shall be duly appointed to the Board of Directors of MAMM and (ii) subject to the effectiveness of a Schedule 14F-1 filed with the SC on the Closing Date, Xx. Xxxxxxxxxxxx shall resign as a member of the Board of Directors of MAMM.
Appointment of New Directors. (1) The Board shall immediately take action to add, at a minimum, two (2) new directors, one of whom shall be an independent director. The term "independent director" means a person who is not an officer or employee of the Bank, and who is not:
Appointment of New Directors. 1. The Company confirms that the Board has already appointed one new independent director to the Board effective as of June 26, 2015, that the new director is an audit committee financial expert within the meaning of the federal securities laws, and that the new director has been appointed as the Chair of the Audit Committee (the former chair remains on the Audit Committee, while a former member has stepped down from the Audit Committee but remains on other committees of the
Appointment of New Directors. 19.18.1 The Borrower shall not carry out and shall not allow, without the Facility Administrator’s prior written consent, any actions that may lead to the election and (or) appointment of new directors and/or secretaries of the Obligors, who are legal persons registered and operating under the laws of the Republic of Cyprus and whose shares are pledged under a Pledge, except when the following documents are provided to the Facility Administrator at the same time as the new directors and (or) secretaries of the said Xxxxxxxx are appointed:
Appointment of New Directors. The parties hereto shall procure that Ms. Ping PING, with Mr. Xxxx XX as her alternate, and Mr. Xxx XXXXX, with Mr. Gongquan WANG as his alternate, shall be appointed as additional directors of the Company and Mr. Xxxx XX and Mr. Gongquan WANG shall be appointed as Board observers, effective immediately as of the Closing. 7.9
Appointment of New Directors. (1) The Board shall immediately take action to add, at a minimum, two (2) new independent directors with prior banking experience. The term "
