Founders Representative definition
Examples of Founders Representative in a sentence
In the event that a successor Founders Representative is not appointed within such ten (10) day period, the Buyer and other parties shall be entitled to rely on any action of the holders of a majority in interest of the Escrow Fund as the action of all of the holders in interest of the Escrow Fund and such majority in interest of holders shall have all of the rights and duties of the Founders Representative hereunder.
The representative of Novacap II, L.P. (as identified from time to time) and the Founders Representative are collectively referred to as, the “Representatives”.
In the event of the death, disability, resignation or removal of the Founders Representative, a successor or replacement Founders Representative shall be appointed no later than ten (10) days following the last date of service of the Founders Representative that is being replaced.
Such agency may be changed (or a successor appointed in the event of the death, disability or resignation of the Founders Representative) by the holders of a majority in interest of the Escrow Fund from time to time upon not less than thirty (30) days’ prior written notice to Buyer; provided that the Founders Representative may not be removed unless holders of a two-thirds interest of the Escrow Fund agree to such removal and to the identity of the substituted agent.
Notices or communications to or from the Founders Representative shall constitute notice to or from each of the Stockholders and the holders of Company Stock Rights.
Any decision by the Founders Representative to exercise the First Put Option Right on behalf of all the Founders shall be final and binding upon them.
Entravision and the Founders may cause this Agreement to be amended at any time by execution of an instrument in writing signed on behalf of Entravision and the Founders Representative.
This authority given to the Founders' Representative to act as attorney in-fact for each Founder is irrevocable and is coupled with an interest.
Any decision by the Founders Representative to exercise the Second Put Option Right on behalf of all the Founders shall be final and binding upon them.
The Founders agree that the Founders Representative shall be able to decide, at its sole discretion, whether or not the Founders shall exercise the First Put Option Right, for which purposes the Founders hereby grant the Founders Representative with the full power and authority to exercise the First Put Option Right on their behalf.