Designating Holder definition
Examples of Designating Holder in a sentence
The Company and the Board shall, subject to and consistent with the Board’s fiduciary duties, the DOT’s and FAA’s U.S. citizenship requirements and other Applicable Law, take such actions as necessary to cause each Board Designee so designated by any such Designating Holder to be nominated for election to the Board at each annual meeting of the Company’s stockholders or any special meeting in lieu thereof.
Notwithstanding anything to the contrary in this Agreement, each of the Designating Holders shall from time to time hereafter consult in good faith with the Chief Executive Officer with respect to the designation for election to the Board of each Director designated by such Designating Holder or the Nominating Committee pursuant to Section 2.1(a)(i), Section 2.1(a)(ii), Section 2.1(a)(iv), Section 2.1(a)(v) and Section 2.1(a)(vi).
In addition, (i) the Chairman or (ii) any two (2) Directors (so long as such two (2) Directors are not designated for election by the same Designating Holder) may call a special meeting of the Board at any time.
In the event that any Designated Director seat becomes vacant for any reason prior to the annual shareholders’ meeting, such vacancy shall be filled until the next shareholder meeting by the Designating Holder.
Notwithstanding the foregoing, if any Designating Holder loses its right to designate a Director, such Designating Holder shall cause its Designated Director to tender his or her resignation to the Board, or will cause such Designated Director to be removed.
A Designated Director may only be removed, with or without cause, by the Designating Holder, and the Designating Holder will have the right to remove its Designated Director for any or no reason at any time and may designate a replacement Director in the event of the removal, resignation, retirement, death or incapacity of its designee.
The Company and the Board shall, subject to and consistent with the Board's fiduciary duties, the DOT's and FAA's U.S. citizenship requirements and other Applicable Law, take such actions as necessary to cause each Board Designee so designated by any such Designating Holder to be nominated for election to the Board at each annual meeting of the Company's stockholders or any special meeting in lieu thereof.
The Holder making such a request for a Demand Registration is sometimes herein referred to as the "Designating Holder." Such request will specify the aggregate number of shares of Restricted Stock proposed to be sold and will also specify the intended method of disposition thereof.