Common use of Board Composition and Board Designations Clause in Contracts

Board Composition and Board Designations. For a period of five years from the Effective Date, the Company shall ensure that (i) the qualifications of the persons serving as board members and the overall composition of the board comply with the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder and with the listing requirements of the Nasdaq or any other national securities exchange or national securities association (as the case may be in the event the Company seeks to have its Public Securities listed on another exchange or quoted on an automated quotation system), and (ii) if applicable, at least one member of the board of directors qualifies as a “financial expert” as such term is defined under the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder.

Board Composition and Board Designations. For a period of five years from the Effective Date, the Company shall ensure that (i) the qualifications of the persons serving as board members and the overall composition of the board comply with the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder and with the listing requirements of the Nasdaq Nadaq or any other national securities exchange or national securities association (as the case may be in the event the Company seeks to have its Public Securities listed on another exchange or quoted on an automated quotation system), and (ii) if applicable, at least one member of the board of directors qualifies as a “financial expert” as such term is defined under the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder.

Board Composition and Board Designations. For a period of five years from the Effective Date, the The Company shall ensure that for a period of three years from the Closing Date: (i) the qualifications of the persons serving as board members and the overall composition of the board comply with the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder and with the listing requirements of the Nasdaq of, NASDAQ Capital Market or any other national securities exchange or national securities association (association, as the case may be be, in the event the Company seeks to have its Public Securities listed on another exchange or quoted on an automated quotation system), and (ii) if applicable, at least one member of the board of directors qualifies as a “financial expert” as such term is defined under the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder.

Board Composition and Board Designations. For a period of five years from the Effective Date, the Company shall ensure that (i) the qualifications of the persons serving as board members and the overall composition of the board comply with the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder and with the listing requirements of the Nasdaq or any other national securities exchange or national securities association (as the case may be in the event the Company seeks to have its Public Securities listed on another exchange or quoted on an automated quotation system), and (ii) if applicable, at least one member of the board of directors qualifies as a “financial expert” as such term is defined under the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunderthereunder [need to check if this is AMEX requirement].

Board Composition and Board Designations. For a period of five years from the Effective Date, the Company shall ensure that (i) the qualifications of the persons serving as board members and the overall composition of the board comply with the S▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder and with the listing requirements of the Nasdaq Nasdaq, AMEX or any other national securities exchange or national securities association (as the case may be in the event the Company seeks to have its Public Securities listed on another exchange or quoted on an automated quotation system), and (ii) if applicable, at least one member of the board of directors qualifies as a “financial expert” as such term is defined under the S▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder.

Board Composition and Board Designations. For a period of five years from the Effective Date, the Company shall ensure that (i) the qualifications of the persons serving as board members and the overall composition of the board comply with the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder and with the listing requirements of the Nasdaq AMEX or any other national securities exchange or national securities association (as the case may be in the event the Company seeks to have its Public Securities listed on another exchange or quoted on an automated quotation system), and (ii) if applicable, at least one member of the board of directors qualifies as a “financial expert” as such term is defined under the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder.

Board Composition and Board Designations. For a period of five years from the Effective Date, the Company shall ensure that (i) the qualifications of the persons serving as board members and the overall composition of the board comply with the S▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder and with the listing requirements of the Nasdaq or any other national securities exchange or national securities association (as the case may be in the event the Company seeks to have its Public Securities listed on another exchange or quoted on an automated quotation system), and (ii) if applicable, at least one member of the board of directors qualifies as a “financial expert” as such term is defined under the S▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder.

Board Composition and Board Designations. For a period of five years from the Effective Date, the Company shall ensure that (i) the qualifications of the persons serving as board members and the overall composition of the board comply with the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder and with the listing requirements of the AMEX, Nasdaq or any other national securities exchange or national securities association (association, as the case may be be, in the event the Company seeks to have its Public Securities listed on another exchange or quoted on an automated quotation system), and (ii) if applicable, at least one member of the board of directors qualifies as a “financial expert” as such term is defined under the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder.

Board Composition and Board Designations. For a period of five (5) years from the Effective Date, the Company shall ensure that (i) the qualifications of the persons serving as board members and the overall composition of the board comply with the S▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder and with the listing requirements of the AMEX, Nasdaq or any other national securities exchange or national securities association (association, as the case may be be, in the event the Company seeks to have its Public Securities listed on another exchange or quoted on an automated quotation system), and (ii) if applicable, at least one member of the board of directors qualifies as a “"financial expert” " as such term is defined under the S▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules promulgated thereunder.