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: Securities Purchase Agreement (Cascade Bancorp), Securities Purchase Agreement (Cascade Bancorp), Securities Purchase Agreement (Cascade Bancorp)
Approval by Continuing Directors. Two-thirds of the Continuing Directors (as defined in the Articles of Incorporation) have has voted in favor of the entering into of this Agreement and the transactions contemplated by this Agreement, including the issuance of Common Shares and shares, the increase in authorized sharesshares and the reverse stock split as described in the Company’s proxy statement filed pursuant to Section 14(a) of the Exchange Act on October 29, 2009 and has or will recommend approval of the transactions contemplated by this Agreement to the Company’s shareholdersstockholders.
Appears in 1 contract
