Board Observers. (a) Prior to the IPO, the FS Entities, collectively, shall be entitled to have two observers in addition to the FS Director (the "FS Observers") at all regular and special meetings of the Board for so long as the FS Entities, collectively, beneficially own Common Stock representing at least 7.5% of the outstanding Common Stock.
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Samples: Securityholders' Agreement (White W Brett), Securityholders' Agreement (Wirta Raymond E), Securityholders' Agreement (Blum Capital Partners Lp)
Board Observers. (a) Prior to the IPO, the FS Entities, collectively, shall be entitled to have two observers in addition to the FS Director (the "FS -- Observers") at all regular and special meetings of the Board for so long as the --------- FS Entities, collectively, beneficially own Common Stock representing at least 7.5% of the outstanding Common Stock.
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