Composition and Size Clause Samples
The 'Composition and Size' clause defines the makeup and number of members or components within a particular group, committee, or body referenced in the agreement. It typically specifies how many individuals or entities are to be included, outlines any qualifications or categories required for membership, and may address procedures for appointment or replacement. By clearly establishing these parameters, the clause ensures that the group functions as intended and prevents disputes over its structure or legitimacy.
Composition and Size. The ITC Investments Board shall consist of the number of members set forth in the ITC Investments Bylaws from time-to-time, which the Shareholders agree shall be not more than eleven members or, where there are two RH Shareholders, thirteen members. As soon as practicable, but in any event within six months, after the date hereof, the Shareholders shall cause a majority of the members of the ITC Investments Board to be Independent Directors. If at any time thereafter the ITC Investments Board ceases to consist of a majority of Independent Directors, then the Shareholders shall elect to the ITC Investments Board the necessary number of Independent Directors to create such majority within three months of such event.
Composition and Size. The Company will disclose in compliance with the applicable ASX listing requirements the names of the members considered by the Supervisory Board to be independent mem- bers. The Constitution provides that there must be four (4) Supervisory Board members. The composition of the Supervisory Board must at all times be appropriate to supervise the Management Board in adequately discharging its responsibilities and duties.
Composition and Size. The Board shall not exceed a maximum of 13 (Thirteen) Directors (the “Authorized Directors’ Number”). Out of the Authorized Directors’ Number and after giving written notice of such determination to the Company, subject to Clause 2.3 below:
(a) 1 (one) Director shall be appointed on the nomination of Tencent, who shall be a non-retiring director (the “Tencent Director”);
(b) 1 (one) Director shall be appointed on the nomination of Inventus, who shall be a non-retiring director (the “Inventus Director”);
(c) 1 (one) Director shall be appointed on the nomination of Startup Holding, who shall be a non-retiring director (the “InfoEdge Director”);
(d) 3 (three) Directors shall be appointed on the nomination of the Founders (the “Founder Directors”), such nominee person being a Founder in the employment of, and holding an executive position in the Company or a person nominated by such Founders; and
(e) 1 (one) Director shall be appointed on the nomination of PIOF, who shall be a non-retiring director (the “PIOF Director”);
(f) 1 (one) Director shall be appointed on the nomination of Steadview, who shall be a non-retiring director (the “Steadview Director”);
(g) 1 (one) Director shall be appointed on the nomination of Temasek, who shall be a non-retiring director (the “Temasek Director”);
(h) 1 (one) Director shall be appointed on the nomination of True North, who shall be a non-retiring director (the “True North Director”);
(i) 1 (one) Director shall be appointed on the nomination of SoftBank, who shall be a non-retiring director (the “SoftBank Director”); and
(j) 2 (two) Directors may be appointed by the Company as independent Directors, by mutual consultation and agreement among the Founders and the Investors. As soon as practicable after the Closing, the Board shall appoint such independent Directors, after such mutual consultation and agreement and such independent Directors shall be re-elected on a yearly basis thereafter starting therewith. Provided However That, the right of any Investor to nominate a Director to the Board shall be subject to the requirement that the Board shall at all times comprise of a majority of resident Indian Directors, excluding independent Directors. It is hereby clarified that if at any time the number of non-resident Directors on the Board is more than the number of resident Indian Directors (excluding independent Directors), the Board will be reconstituted to ensure compliance with Applicable Law. It is hereby clarified that t...
Composition and Size. 2.1.1 The Board shall The Board shall consist of 3 (three) Directors, of which:
Composition and Size. The ITC Investments Board shall consist of the number of members set forth in the ITC Investments Bylaws from time-to-time, which the Shareholders agree shall be not more than eleven members or, where there are two RH Appointing Shareholders, thirteen members. If at any time after the six month anniversary of the Effective Date, the ITC Investments Board ceases to consist of a majority of Independent Directors, then the Shareholders shall elect to the ITC Investments Board the necessary number of Independent Directors to create such majority within three months of such event.
Composition and Size. The composition and size of the Board shall be determined in accordance with Article V of the Certificate of Incorporation, and the Corporation shall take all necessary action (subject to the fiduciary duties of the directors) to cause to be nominated for election and cause the election of, and to cause the Board to recommend for election, at each annual meeting of the Corporation’s shareholders or by written consent of the shareholders at any time, individuals who qualify as directors pursuant to Article V of the Certificate of Incorporation.
Composition and Size. The Board shall not exceed a maximum of 13 (Thirteen) Directors (the “Authorized Directors’ Number”). Out of the Authorized Directors’ Number: