Preferred Designee definition
Examples of Preferred Designee in a sentence
At all times the Company shall reserve a sufficient number of seats on the Board of Directors to permit the election of the Preferred Designee.
To the extent that any committee does not include the Minority Preferred Designee (as defined in the Voting Agreement), then the Minority Preferred Designee shall be entitled to attend in a non-voting, observer capacity all meetings of such committee and to receive all notices and other communications (including, without limitation, Actions by Written Consent Without a Meeting) that are sent to members of such committee in their capacity as such.
Yunich or such other Preferred Designee voted against suc▇ ▇▇▇▇▇▇ ▇▇ ▇ ▇eeting of the Board of Directors at which such action was proposed; and (iv) such action caused (A) a material harm to the holders of the Preferred Stock and (B) a material benefit to the Common Stock.
For so long as the Preferred Designee serves on the Board of Directors of the Company, the Company, the Principal Stockholders and each Investor agrees to vote all of its shares of Common Stock or Preferred Stock, as applicable, and to take all lawful action as shall be reasonably required in order to facilitate the election of such Preferred Designee to any and all committees of the Board of Directors.
If less than all of the Designees can be assured election, then the priority given to the Series D Designees shall be determined by Bessemer Venture Partners, the priority given to the Preferred Designee shall be determined by the Preferred Group, and the priority given to the Mutual Designees shall be determined by the (i) Common Group, and (ii) the holders of a majority of the Company’s Preferred Stock, voting together as a single class on an as converted basis.
The foregoing provisions of this Section 3.3 are intended to confer additional voting power on the Super-Voting Preferred Designee under certain circumstances in accordance with and as permitted under Section 141(d) of the General Corporation Law.
In the case of a vacancy of a director elected pursuant to Section 2.1(c) following a Series C Director Triggering Event, and so long as Activant holds the Activant Requisite Threshold, Activant shall choose a successor to the Series C Preferred Designee, and each Voting Party shall vote all Shares held by such Voting Party to elect the new Series C Preferred Designee pursuant to Section 2.1(c).
During the term of this Section 4, and so long as at least 500,000 shares of the Company’s Series B Preferred Stock are issued and outstanding, each Voting Party agrees to vote all Voting Shares in such manner as may be necessary to elect (and maintain in office) as a member of the Company’s board of directors the Series B Preferred Designee (as defined below) as the Series B Director (as defined in the Restated Certificate).
If the Preferred Designee resigns or is removed by a vote of the Company's shareholders, or if his or her Board seat is otherwise vacated for any reason, then PEV shall have the right to nominate his or her replacement and MTI agrees to vote its shares for the election of such replacement.
In the event Activant no longer holds the Activant Requisite Threshold after a Series C Director Triggering Event and there is a vacancy in the office of a director elected pursuant to Section 2.1(c), the holders of a majority of the Series C Preferred Stock then outstanding, voting together as a single class, may choose a new Series C Preferred Designee, and each Voting Party shall vote all Shares held by such Voting Party to elect the new Series C Preferred Designee pursuant to Section 2.1(c).