Common use of Failure to Designate a Board Member Clause in Contracts

Failure to Designate a Board Member. During the Settlement Agreement Period, in the event that the Stockholder fails to recommend a replacement director (whether or not appointed to the Board) pursuant to Section 2(a)(vi) above within thirty (30) days of the date of the actual occurrence of a vacancy as set forth therein, such replacement director may designated by the Nominating Committee.