Initial Director. Upon the Closing the transactions contemplated by this Agreement and for so long as the Marketing Agreement is in effect, DRC agrees to nominate as a director and shall use its best efforts (including recommending the election of such nominee to DRC's stockholders) to cause one (1) nominee designated by SCOA to be appointed as and to remain as a Director of DRC. To the extent any SCOA nominee is not so elected at any particular shareholders vote, DRC will use its best efforts to elect such nominee at the next opportunity, and shall utilize any rights it has to appoint a substitute director in the event of a resignation or other vacancy to cause such SCOA nominee to fill such vacancy.,
Appears in 2 contracts
Sources: Stock Purchase Agreement (Daleco Resources Corp), Stock Purchase Agreement (Sumitomo Corporation of America)