Common use of Investor Designees Clause in Contracts

Investor Designees. (a) For so long as WP Owns at least two thirds of (i) the aggregate number of Shares acquired by it on the Initial Closing Date, or (ii) in the event the Exchange occurs, the aggregate number of shares of Common Stock Owned by WP immediately after giving effect to the Exchange (the "Exchange Date Shares"), then, subject to applicable law and the rules and regulations of the SEC and NASDAQ Stock Market, the Company will nominate and use its reasonable best efforts to cause to be elected and cause to remain as directors on the Board two individuals designated by WP (each, an "Investor Designee" and collectively, the "Investor Designees"). (b) In the event Section 5.4(a) is no longer applicable and for so long as WP Owns at least 50% of (i) the aggregate number of Shares acquired by it on the Initial Closing Date, or (ii) in the event the Exchange occurs, the Exchange Date Shares, then, subject to applicable law and the rules and regulations of the SEC and NASDAQ Stock Market, the Company will nominate and use its reasonable best efforts to cause to be elected and cause to remain as a director on the Board, one Investor Designee. (c) Subject to applicable law and the rules and regulations of the SEC and NASDAQ Stock Market, for so long as at least one Investor Designee continues to serve as a director on the Board, the Company will use its reasonable best efforts to cause one of the Investor Designees to be a member of each principle committee of the Board.

Investor Designees. (a) For so long as WP Owns at least two thirds of (i) the aggregate number of Shares acquired by it on the Initial Closing Date, or (ii) in the event the Exchange occurs, the aggregate number of shares of Common Stock Owned by WP immediately after giving effect to the Exchange (the "“Exchange Date Shares"”), then, subject to applicable law and the rules and regulations of the SEC and NASDAQ Stock Market, the Company will nominate and use its reasonable best efforts to cause to be elected and cause to remain as a directors on the Board two individuals designated by WP (each, an "“Investor Designee" ” and collectively, the "“Investor Designees"”). (b) In the event Section 5.4(a) is no longer applicable and for so long as WP Owns at least 50% of (i) the aggregate number of Shares acquired by it on the Initial Closing Date, or (ii) in the event the Exchange occurs, the Exchange Date Shares, then, subject to applicable law and the rules and regulations of the SEC and NASDAQ Stock Market, the Company will nominate and use its reasonable best efforts to cause to be elected and cause to remain as a director on the Board, one Investor Designee. (c) Subject to applicable law and the rules and regulations of the SEC and NASDAQ Stock Market, for so long as at least one Investor Designee continues to serve as a director on the Board, the Company will use its reasonable best efforts to cause one of the Investor Designees to be a member of each principle committee of the Board.