Common use of Change in Board Control Clause in Contracts

Change in Board Control. Individuals who, as of the Effective Date, are members of the Board of Centerline ("Incumbent Board"), cease for any reason to constitute a majority of the Board of Centerline, provided, however, that if the election of a trustee is approved by vote of at least a majority of the Incumbent Board, such new trustee shall, for purposes of this Agreement, be considered as a member of the Incumbent Board.

Change in Board Control. Individuals who, as of the Effective Date, are members of the Board of Centerline ("“Incumbent Board"”), cease for any reason to constitute a majority of the Board of Centerline, provided, however, that if the election of a trustee is approved by vote of at least a majority of the Incumbent Board, such new trustee shall, for purposes of this Agreement, be considered as a member of the Incumbent Board.