Special Observer Clause Samples

Special Observer. JPMorgan Chase Bank, N.A. shall have the right to have one observer at each meeting of the Board (the “Special Observer”) who shall be entitled to attend meetings in a non-voting, observer capacity; provided, that (i) such right shall be non-assignable, except that it shall continue as to any successor to JPMorgan Chase Bank, N.A. by merger or operation of law, and (ii) such right shall terminate in the event that JPMorgan Chase Bank, N.A. (or any of its Control Affiliates) ceases to own any Units. The Company shall provide to the Special Observer concurrently with the Board and in the same manner, notice of any and all meetings of the Board and copies of all materials provided to the Board, provided, however, that the Board shall have the right to exclude the Special Observer from portions of meetings of the Board or not provide the Special Observer with certain information if such members of the Board believe in good faith that such exclusion or omission is in the best interest of the Company.