Lender Designee definition
Examples of Lender Designee in a sentence
Accordingly, Clearing Bank’s sole responsibility to Lender, Designee or any third party with respect to the time of delivery of such amounts and items will be to deliver such amounts and items as close to the mutually agreed upon time as may be reasonably practicable.
In the event that the Loan Amount remains outstanding for more than 130 days following the Closing Date, Lender will be entitled to designate one member (the "Lender Designee") to Borrower's Board of Directors for so long as any Liabilities are owing to Lender hereunder.
Neither Lender nor any Lender Designee will be liable for any acts of commission or omission, or for any error in judgment or mistake of fact or law.
If the Required Lenders and Borrower cannot agree on a Lender Designee, the Required Lenders shall submit three additional Lender Designee candidates to Borrower for consideration, and ▇▇▇▇▇▇▇▇ and its Board of Directors shall select the Lender Designee from such additional three candidates.
If no Lender Designee has been appointed by Required Lenders, the Lender Designee’s seat on the Strategic Review Committee may be filled by a then-current member of the Board of Directors selected by Required Lenders (an “Alternate SRC Member”); provided that, immediately upon the appointment of a Lender Designee, the Alternate SRC Member shall be removed from the Strategic Review Committee and replaced with the Lender Designee.
Accordingly, Clearing Bank’s sole responsibility to Lender, Designee or any third party with respect to the time of delivery of such amounts and items shall be to deliver such amounts and items as close to the mutually agreed upon time as may be reasonably practicable.
While the New Loan is outstanding, if the Lender Designee’s term will expire at the next annual meeting of the Company’s stockholders, such Lender Designee shall be nominated by the Company for reelection by the stockholders at such meeting.
The Lender Designee and/or the Observer, as applicable, shall have the right, but not the obligation, in his/her sole discretion, to waive any violation of the requirements of clause (i)(a) or (i)(b) above.
For so long as ▇▇▇▇▇▇▇ ▇▇▇▇ or another Lender Designee serves as Chairman of the Board, the Principal Borrower and the Board shall not take any action to rescind the Board’s delegation to the Chairman of the Board of any of the powers and authorities set forth on Schedule 8.34.
Borrower shall cause each Lender Designee for election to the Board to be included in the slate of nominees recommended by the Board to holders of Common Stock (including at any special meeting of stockholders held for the election of directors) and shall use reasonable best efforts to cause the election of each such Lender Designee, including soliciting proxies in favor of the election of such persons.