Common use of Director of Parent Clause in Contracts

Director of Parent. Parent agrees to take all action necessary to appoint or elect, effective as of the Effective Time, one non-employee director of the Company as of the date hereof who is designated by the Company and who both meets the director qualification requirements set forth in the Parent Bylaws and is otherwise reasonably acceptable to Parent as a director of Parent.

Appears in 2 contracts

Sources: Agreement and Plan of Consolidation (Banknorth Group Inc/Me), Agreement and Plan of Reorganization (Banknorth Group Inc/Me)