Boards of Directors. (a) For so long as Silver Lake and its Affiliates own in the aggregate not less than thirty-five (35%) of the aggregate number of Shares issued to the Investors by the Company on the Closing Date, Silver Lake shall have the right (but in no event the obligation) to nominate for election to the Board one nominee who is a member of the general partner or investment advisor of Silver Lake (the "Investor Company Nominee") upon each regular election of the class of directors whose current term expires in 2003 ("Class II"). To this end, the Company and the Investors agree to take the following actions (unless Silver Lake shall have determined in its sole discretion not to nominate a nominee for election to the Board or to replace an Investor Company Nominee who has left the Board):
Appears in 4 contracts
Samples: Securities Purchase Agreement (Cabletron Systems Inc), Securities Purchase Agreement (Riverstone Networks Inc), Securities Purchase Agreement (Aprisma Management Technologies Inc)
