Common use of Replacement Directors Clause in Contracts

Replacement Directors. During such time as the right of either the PCP Entities or Mitsui to nominate directors is reduced or suspended pursuant to Section 2.4 or 2.5, the Restricted Stockholders shall use their reasonable best efforts to have the successors to such directors both: (a) be selected by a majority of the remaining Board of Directors, excluding the director whose position is no longer entitled to be designated by Mitsui or the PCP Entities, and (b) not be Affiliates of the PCP Entities and their Affiliates (other than the Company and its subsidiaries).

Appears in 4 contracts

Samples: Stockholders Agreement (United Auto Group Inc), Stockholders Agreement (United Auto Group Inc), Stockholders Agreement (United Auto Group Inc)

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