Common use of Director Disqualification Clause in Contracts

Director Disqualification. After being elected, designated, or appointed, if a Director does not comply with all General Director Qualifications, Membership Director Qualifications, and Independence Director Qualifications (collectively, “Director Qualifications”) then, except as otherwise provided by the Board for good cause, the Board may by two-thirds vote disqualify the Director and the individual is no longer a Director if: (1) the Board notifies the Director in writing or Electronically of the basis for, and provides the Director an opportunity to comment regarding, the Board’s proposed disqualification; and (2) within 10 days after the Board notifies the Director of the proposed disqualification, the Director neither complies with nor meets the Director Qualification. If a majority of Directors authorized by these Bylaws complies with the Director Qualifications and approves a Board action, then the failure of a Director to comply with the Director Qualifications does not affect the Board action.

Director Disqualification. After being nominated, elected, designated, or appointed, if a Director does not comply with all General Director Qualifications, Membership Director Qualifications, and Independence Director Qualifications (collectively, “"Director Qualifications”) "), then, except as otherwise provided by the Board for good cause, the Board may by two-thirds vote shall disqualify the Director and the individual Individual is no longer a Director if: (1) the Board notifies the Director in writing or Electronically of the basis for, and provides the Director an opportunity to comment regarding, the Board’s proposed disqualification; and (2) within 10 thirty (30) days after the Board notifies the Director of the proposed disqualification, the Director neither complies with nor meets the Director Qualification. If a majority of Directors authorized by these Bylaws complies with the Director Qualifications and approves a Board action, then the failure of a Director to comply with the Director Qualifications does not affect the Board action.