Continuing Directors. The term "Continuing Directors" means any directors of DIRECT III who either (I) were directors of DIRECT III on the Effective Date, or (ii) become directors of DIRECT III after the Effective Date and whose election or nomination for election by the shareholder of DIRECT III was duly approved, either by a specific vote or by approval of the proxy statement issued by DIRECT III in which such individuals were named as nominees for directors of DIRECT III, by a majority of the Continuing Directors who were at the time of election or nomination directors of DIRECT III.
Appears in 4 contracts
Samples: Executive Employment Agreement (Direct Iii Marketing Inc), Executive Employment Agreement (Direct Iii Marketing Inc), Executive Employment Agreement (Direct Iii Marketing Inc)
Continuing Directors. The term "βContinuing Directors" means any β shall mean the directors of DIRECT III who either (I) were identified in Article V, Section 5.1 and the directors of DIRECT III on the Effective Date, or (ii) become directors of DIRECT III after the Effective Date and whose election or nomination for election by the shareholder of DIRECT III was duly approved, either stockholders or whose election by a specific vote or by approval of the proxy statement issued by DIRECT III in which such individuals were named as nominees for directors of DIRECT III, to fill vacancies is approved by a majority of the Continuing Directors who were at then on the time Board of election or nomination directors of DIRECT IIIDirectors.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Alcentra Capital Corp), Agreement and Plan of Merger (Crescent Capital BDC, Inc.), Agreement and Plan of Merger (Crescent Reincorporation Sub, Inc.)
