Common use of Director Issues Clause in Contracts

Director Issues. As soon as reasonably practicable following the notice specified in Section 4(a) and the sale and purchase of the Shares as set forth in Section 4(a), the New Shareholder(s) shall remove any existing members of the Boards of Directors, in accordance with the provisions of the by-laws of the Professional Corporations and any relevant laws, and fill the vacancies on the Boards of Directors by electing the New Shareholder(s) as the only director(s) of each of the Professional Corporations to the extent permitted by applicable law.

Appears in 2 contracts

Sources: Credit Succession Agreement (Prospect Medical Holdings Inc), Credit Succession Agreement (Prospect Medical Holdings Inc)