Irrevocable Commitment. Each AT&T Party hereby irrevocable commits and agrees that for a period of at least two years from the Closing Date (a) neither it nor its affiliates will acquire, in the aggregate, beneficial ownership of 25% or more of the Company Common Stock on a fully diluted basis and (b) it shall not cause or permit the designees of any AT&T Party or its affiliates to constitute a majority of the Board of Directors of the Company.
Appears in 2 contracts
Sources: Stockholders Agreement (Lin Television Corp), Stockholders Agreement (At&t Corp)