Common use of Board Seat Clause in Contracts

Board Seat. During the Term and any Renewal Term of this Agreement, BISYS shall be entitled to nominate a candidate to the Board of Directors of OSI (or any parent holding company of OSI that may hereafter exist), including any replacement for such candidate as may be required. The candidate shall be reasonably acceptable to OSI, and be willing and able to serve subject to all of OSI's rules, policies and procedures for its directors, generally. OSI agrees to take steps necessary to cause the nomination of BISYS' approved candidate for the next election of directors. BISYS' rights under this Section 20(b) shall automatically terminate upon completion by OSI of an initial public offering.