Termination of Designation Rights. (a) Columbia Capital shall cease to have the right to designate a director if at any time (1) the Columbia Parties and the Columbia Principals collectively own less than half the Covered Shares received by the Columbia Parties and the Columbia Principals pursuant to the Merger Agreement, or (2) a Designation Right Loss Event occurs with respect to any Columbia Party or any Columbia Principal.
Termination of Designation Rights. The Holders of a majority of the Shares shall not be entitled to designate any nominees for election to the Board pursuant to this Agreement from and after the date (the “Designation Rights Termination Date”) that is the first date on which the Shares Beneficially Owned by the Holders collectively represent less than thirty-one and one-quarter percent (31.25%) of the Shares initially acquired by the Investor pursuant to the Asset Purchase Agreement.
Termination of Designation Rights. (a) Xxxxxxxx shall cease to have the right to designate a director if at any time (1) the Fleet Parties collectively own less than half the Covered Shares received by them pursuant to the DTS Merger Agreement, or (2) a Designation Right Loss Event occurs with respect to any Fleet Party.
Termination of Designation Rights. In the event that the shares of the Company’s Preferred Stock held by any Stockholder are converted into Common Stock pursuant to Section B.3 of the Restated Certificate (each such Stockholder a “Converting Stockholder”), any right of such Converting Stockholder to nominate or designate a director of the Company pursuant to Section 2.1 or Section 2.2 above shall terminate at the time of such conversion.
Termination of Designation Rights. (a) The rights and obligations of 399 Venture, as set forth in Section 6.2 through 6.7 above, shall terminate upon the earlier of (i) the date the Company consummates a Public Offering or (ii) the date when 399 Venture and its Permitted Transferees (other than Permitted Transferees pursuant to Section 4.5(d)(iii)), and their respective Affiliates no longer own at least 50% of (x) the Common Stock owned by 399 Venture as of the Closing, minus (y) the Common Stock transferred by 399 Venture to 399 Venture Co-Investors (which sales shall be made consistent with 399 Venture's customary policies with respect to sales to 399 Venture Co-Investors).
Termination of Designation Rights. The right of certain Holders to designate individuals for election to the Board of Directors pursuant to Subsection 2.3 hereof shall be subject to termination as follows:
Termination of Designation Rights. 28 6.9. Future Sales of Securities.................................... 29
Termination of Designation Rights. 7 2.4.1 FGN............................................. 7 2.4.2
Termination of Designation Rights. (a) CME Group’s director designation rights pursuant to Section 6.4(a) and the Transfer restrictions pursuant to Section 3.1 with respect to shares of CME Group Class A Common Stock owned by BVMF shall terminate, at BVMF’s election, if any of the following events shall have occurred (each, a “CME Group Designee Termination Event”):
Termination of Designation Rights. Investor shall lose its rights provided in paragraph 1(a)(i) at the first to occur of (i) such time as Investor and its affiliates and associates beneficially own less than 75% of the shares of the Company's common stock that they beneficially own as at the Effective Time and (ii) the date which is 18 calendar months after the date of this letter agreement. Notwithstanding anything in this paragraph 1(b) to the contrary, in the event Investor loses its director nomination right pursuant to paragraph 1(a)(i) above directors appointed by Investor shall be entitled to participate in the designation of directors pursuant to paragraph 1(a)(ii) above. For purposes of this paragraph 1(b), beneficial ownership shall be determined under the rules of the Securities and Exchange Commission.
