Common use of Initial Designations Clause in Contracts

Initial Designations. The parties make the following designations pursuant to this Section 3: (a) Two of the Pagon Designees are Pagon and ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇. (b) The Columbia Designee is ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, III. (c) The Whitney Designee is ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇. (d) The ▇▇▇▇▇▇▇▇ Designee is ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇. (e) The Independent Directors specified in Section 3.1(e) are ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, III, ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, each of whom is currently a director of the Company. Immediately following the execution of this Agreement, the Board of Directors shall take such action as shall be required to create vacancies on the Board of Directors and to elect persons to the Board of Directors as specified in this Section 3.5. The parties will make their designations to the Committees at a later date.