Common use of Appointment of Director Clause in Contracts

Appointment of Director. The Issuer hereby covenants and agrees from the date hereof until June 30, 2003, it shall exert its best efforts (including, without limitation, the solicitation of proxies), to cause the election of the designee of the Subscriber to the Issuer's Board of Directors. Any vote taken to fill any vacancy created by the resignation, death or removal of such designee or the expiration of the term of such designee, shall also be subject to the provisions of this Section 5.2. Additionally, at the written request of the Subscriber, Issuer shall exert its best efforts (including the solicitation of proxies) to cause the removal of such designee at the next stockholders meeting for which the Issuer's proxy statement is filed after the Issuer's receipt of such notice.

Appears in 5 contracts

Samples: Loan Agreement (Centerpoint Corp), Loan Agreement (Bion Environmental Technologies Inc), Subscription Agreement (Moto Guzzi Corp /De/)

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