Approval by Continuing Directors. Two-thirds of the Continuing Directors (as defined in the Articles of Incorporation) have voted in favor of the entering into of this Agreement and the transactions contemplated by this Agreement, including the issuance of Common Shares and the increase in authorized shares, and has or will recommend approval of the transactions contemplated by this Agreement to the Company’s shareholders.
Appears in 6 contracts
Samples: Registration Rights Agreement (Cascade Bancorp), Registration Rights Agreement (Cascade Bancorp), Securities Purchase Agreement (Cascade Bancorp)