Company Default Event

Company Default Event. Either of the following events: (i) failure of any Investor Designee to be elected to the Board within 45 calendar days following any annual or special meeting of stockholders of the Company at which such individual stood for election but was nevertheless not elected, provided that there shall be no Company Default Event as a result of this clause (i) if such individual (or an alternate designated by the Investor) is elected or appointed to the Board (regardless of whether such individual... accepts such appointment or complies with any obligations relating to such individual's appointment or service) prior to the expiration of such 45-day period; or (ii) the removal of an Investor Designee from the Board without cause other than by action, or at the request or direction, directly or indirectly, of the Investor. View More