Founder Voting Obligation. (a) Commencing immediately upon the Effective Date, (i) the Controlling Principals shall have the right to nominate four members of the Board or, if greater, such number of members of the Board (rounded up to the next whole number) equal to 33 1/3% of the then-authorized number of members of the Board (each such nominee, a "Founder Director"), (ii) pursuant to the Standstill Agreement, the Liberty Parties will have the right to nominate four members of the Board or, if greater, such number of members of the Board (rounded up to the next whole number) equal to 33 1/3% of the then- authorized number of members of the Board (each such nominee, a "Liberty Director"), and (iii) the Board shall nominate the remaining members of the Board.
Appears in 2 contracts
Samples: Registration Rights Agreement (Unitedglobalcom Inc), Registration Rights Agreement (Liberty Media Corp /De/)
Founder Voting Obligation. (a) Commencing immediately upon the Effective Date, (i) the Controlling Principals shall have the right to nominate four members of the Board or, if greater, such number of members of the Board (rounded up to the next whole number) equal to 33 33-1/3% of the then-authorized number of members of the Board (each such nominee, a "Founder Director"), (ii) pursuant to the Standstill Agreement, the Liberty Parties will have the right to nominate four members of the Board or, if greater, such number of members of the Board (rounded up to the next whole number) equal to 33 33-1/3% of the then- then-authorized number of members of the Board (each such nominee, a "Liberty Director"), and (iii) the Board shall nominate the remaining members of the Board.
Appears in 2 contracts
Samples: Registration Rights Agreement (Liberty Media Corp /De/), Registration Rights Agreement (New Unitedglobalcom Inc)
Founder Voting Obligation. (a) Commencing immediately upon the Effective Date, (i) the Controlling Principals shall have the right to nominate four members of the Board or, if greater, such number of members of the Board (rounded up to the next whole number) equal to 33 33-1/3% of the then-authorized number of members of the Board (each such nominee, a "Founder DirectorFOUNDER DIRECTOR"), (ii) pursuant to the Standstill Agreement, the Liberty Parties will have the right to nominate four members of the Board or, if greater, such number of members of the Board (rounded up to the next whole number) equal to 33 33-1/3% of the then- then-authorized number of members of the Board (each such nominee, a "Liberty DirectorLIBERTY DIRECTOR"), and (iii) the Board shall nominate the remaining members of the Board.
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