Common use of Disability or Disabled Clause in Contracts

Disability or Disabled. The terms “Disability” and “Disabled” mean such physical or mental disability or incapacity of an individual as, in the sole opinion of the Board, prevents such individual from discharging his normal service obligations to the Company for an aggregate period of 90 Business Days during any 365-day period. The date of Disability will be the date on which the Board makes the determination set forth in the preceding sentence.

Appears in 7 contracts

Samples: Shareholder Agreement, Shareholder Agreement (Manning & Napier, Inc.), Shareholder Agreement (Manning & Napier, Inc.)

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Disability or Disabled. The terms “Disability” and “Disabled” mean such physical or mental disability or incapacity of an individual as, in the sole opinion of a Super-Majority-In-Interest of the BoardMembers (excluding the Disabled Member), prevents such individual from discharging his normal service obligations to the Company LLC or any of its affiliates for an aggregate period of 90 Business Days during any 365-day period. The date of Disability will be the date on which the Board makes Members make the determination set forth in the preceding sentence.

Appears in 2 contracts

Samples: Operating Agreement (Manning & Napier, Inc.), Operating Agreement (Manning & Napier, Inc.)

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