Common use of Continuing Directors Clause in Contracts

Continuing Directors. Continuing Directors" means those members of the Board at any relevant time (a) who were directors on the effective date of this Agreement or (b) are Approved Directors.

Appears in 4 contracts

Samples: Employment Agreement (Pacific Aerospace & Electronics Inc), Employment Agreement (Pacific Aerospace & Electronics Inc), Employment Agreement (Pacific Aerospace & Electronics Inc)

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Continuing Directors. Continuing Directors" means those members ” means, as of any date of determination, any member of the Board at any relevant time of Directors who (a1) was a member of the Board of Directors immediately after the completion of the Merger; or (2) was nominated for election or elected to the Board of Directors with the approval of a majority of the directors then in office who were either directors on immediately after the effective date completion of this Agreement the Merger or (b) are Approved Directorswhose nomination or election was previously so approved.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Marathon Acquisition Corp.), Merger Agreement (Marathon Acquisition Corp.)

Continuing Directors. The term “Continuing Directors" means those members (i) any member of the Board at board of directors of Buyer as of the date of this Agreement, or (ii) any relevant time (a) member of the board of directors of Buyer who were directors on becomes such a member subsequent to the effective date of this Agreement whose nomination for election or election to the board of directors of Buyer was recommended or approved by a majority of the individuals described in clause (bi) are Approved Directorsor this clause (ii) then on the board of directors of Buyer.

Appears in 1 contract

Samples: Purchase and Contribution Agreement (Watsco Inc)

Continuing Directors. Continuing Directors" means those ” means, as of any date of determination, any member of the Board who (i) was a member of the Board on February 1, 2008, or (ii) was nominated for election or elected to the Board with, or whose election to the Board was approved by, the affirmative vote of a majority of the Continuing Directors who were members of the Board at any relevant the time (a) who were directors on the effective date of this Agreement such nomination or (b) are Approved Directorselection.

Appears in 1 contract

Samples: Employment Agreement (American Locker Group Inc)

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Continuing Directors. Continuing Directors" means those members ” means, as of any date of determination, any member of the Board at any relevant time of Directors who (a1) was a member of the Board of Directors immediately after the completion of the Initial Closing; or (2) was nominated for election or elected to the Board of Directors with the approval of a majority of the directors then in office who were either directors on immediately after the effective date completion of this Agreement the Initial Closing or (b) are Approved Directorswhose nomination or election was previously so approved.

Appears in 1 contract

Samples: Subordination Agreement (Oceanaut, Inc.)

Continuing Directors. Continuing Directors" means those members ” means, as of any date of determination, any member of the Board at any relevant time who (ai) was a member of the Board on the date hereof, or (ii) was nominated for election or elected to such Board with, or whose election to the Board was approved by, the affirmative vote of a majority of the Continuing Directors who were directors on members of such Board at the effective date time of this Agreement such nomination or (b) are Approved Directorselection.

Appears in 1 contract

Samples: Employment Agreement (American Locker Group Inc)

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