Election and Term of Trustees Sample Clauses

Election and Term of Trustees. As of October 27, 2016, trustees shall be elected for an initial term of three years, and service as a trustee shall be subject to term limits as follows. Trustees shall be eligible for reelection and shall be permitted to serve for two consecutive three-year terms. A trustee who has served for two consecutive three-year terms shall be eligible for reelection and to return to the Board after an absence of at least one year. A trustee’s term ordinarily shall start on July 1 and end on June 30. If a trustee joins the Board on a different date, the trustee’s first three-year term shall be deemed to start on the following July 1 for purposes of applying the term limits provisions, and shall end on June 30 three years hence. Notwithstanding the term limits provisions stated herein, any trustee’s period of service may be extended for good cause, as determined and approved by a majority of other trustees, without requiring amendment of these bylaws. No single term will exceed five years. Such good cause may include, but shall not be limited to, providing for a smooth transition to the term limits provisions stated herein, maintaining a full complement of trustees pending election of successor trustees, maintaining necessary expertise on the Board, and providing continuity of Board leadership. The term applicable to each Trustee shall be specified in the resolution electing the Trustee. A Trustee whose term is expiring may vote with the other Trustees in the election of his or her successor. A Trustee whose term is expiring or has expired in the past shall be eligible to be reelected subject only to the term limits provisions stated herein. The Board may elect or appoint any person who it believes will serve the interests of the School faithfully and effectively. The Chief Executive Officer shall not be a trustee.
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Election and Term of Trustees. The initial Board of Trustees shall be comprised of those trustees named in the Articles of Incorporation. At each annual meeting of the Board of Trustees thereafter, the trustees then in office shall elect trustees, each trustee to hold office for a term of two-years. If a trustee's term expires, a successor has not been elected, and the trusteeship was not eliminated by a reduction in the number of trustees, the trustee shall continue to serve until the trustee's successor is selected or the Board eliminates the trusteeship by reducing the number of trustees. Trustees shall be elected by a majority vote of the Board of Trustees. Each trustee shall be entitled to one vote for each vacancy. Cumulative voting is prohibited. If the number of candidates who receive majority votes exceeds the number of vacancies, those candidates with the most votes shall be elected. At each annual meeting of the Board of Trustees, the trustees then in office shall elect a Chairperson to hold office for a term ending at the next annual meeting. The Chairperson shall preside at all meetings of the Board of Trustees and shall perform all duties customary to that office. The Chairperson shall also have such powers and duties as may from time to time be assigned to the Chairperson by the Board of Trustees. The Chairperson shall not serve as an officer of the Corporation and shall not serve more than three consecutive terms. At each annual meeting of the Board of Trustees, the trustees then in office shall elect a Vice Chairperson to hold office for a term ending at the next annual meeting. The Vice Chairperson shall, in the absence of the Chairperson, preside at all meetings of the Board of Trustees and shall perform all duties of the Chairperson. The Vice Chair shall not serve more than three consecutive terms.
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Election and Term of Trustees. The initial Board shall consist of those persons named in the Articles of Incorporation. The Board subsequently may elect or appoint any person who in its discretion believes will serve the interests of the Corporation faithfully and effectively, provided that such person (1) is a teacher or staff member who is employed at the school, (2) is a parent of a student attending the school, or (3) meets the criteria for election or selection set forth in the Charter. The election or selection of at least two (2) parent representatives shall occur on the earliest practicable date after classes at the school have commenced. All Trustees elected or selected to comprise the initial Board shall hold office until the first annual election of Trustees or until their successors are elected and qualified; thereafter each Trustee shall hold office for a term of two (2) years. The Board may choose to create a system of staggered terms, with roughly half of the Trustees up for election annually, in order to provide continuity of leadership. Trustees may be re- elected to successive terms and may serve simultaneously as one or more officers.
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Election and Term of Trustees. Unless otherwise provided in the articles of incorporation or the by-laws, the board of trustees of non-stock corporations, which may be more than fifteen (15) in number as may be fixed in their articles of incorporation or by-laws, shall, as soon as organized, so classify themselves that the term of office of one-third (1/3) of their number shall expire every year; and subsequent elections of trustees comprising one-third (1/3) of the board of trustees shall be held annually and trustees so elected shall have a term of three (3) years. Trustees thereafter elected to fill vacancies occurring before the expiration of a particular term shall hold office only for the unexpired period. No person shall be elected as trustee unless he is a member of the corporation. Unless otherwise provided in the articles of incorporation or the by-laws, officers of a non-stock corporation may be directly elected by the members. Three-year term for trustees in non-stock corporation The term of trustees in non-stock corporation is three (3) years except educational corporations where the term is five (5) years. Elections of directors by regions in non- stock corporations not allowed The Securities and Exchange Commission in an opinion stated that the “Election of members of the Board of Directors of a non stock corporation by zones or regions would violate the law which requires that at all elections of directors, there must be present a majority of the members entitled to vote. ”
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Related to Election and Term of Trustees

  • Election and Term of Office The officers of the Company shall be elected annually by the Board of Managers at the first meeting of the Board of Managers held after the annual meeting of Members. If the election of officers shall not be held at such meeting, such election shall be held as soon thereafter as convenient. Vacancies may be filled or new offices created and filled at any meeting of the Board of Managers. Each officer shall hold office until his successor shall have been duly elected and shall have qualified or until his death or until he shall resign or shall have been removed in the manner hereinafter provided.

  • Term of Agreement and Termination 2.1. This Agreement enters into effect at the time of acceptance of this Agreement.

  • Effective Date and Term of Agreement This Agreement is effective and binding on the Company and Employee as of the date hereof; provided, however, that, subject to Section 2(d), the provisions of Sections 3 and 4 shall become operative only upon the Change in Control Date.

  • Condition to Resignation and Termination No such resignation or (subject to Clause 19.5) termination of the appointment of the Issuing and Principal Paying Agent, Registrar or Calculation Agent shall, however, take effect until a new Issuing and Principal Paying Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. If the Issuer fails to appoint a successor as requested by the Agreement and the Conditions by the tenth day before expiry of any notice given under Clause 19.2, then the relevant Agent may itself appoint as successor any reputable and experienced financial institution.

  • VARIATION AND TERMINATION 24.1 All and any of the provisions of this agreement may be deleted, varied, supplemented, restated or otherwise changed in any way at any time with the prior written consent of the Company, the Investor and by the Shareholders holding at least [90] per cent of the Shares (excluding Treasury Shares) held by the Shareholders, in which event such change shall be binding against all of the parties hereto provided that if such change would impose any new obligations on a party, or increase any existing obligation, the consent of the affected party to such change shall be specifically required.

  • DURATION AND TERMINATION OF AGREEMENT This Agreement shall become effective with respect to each Portfolio on the later of (i) its execution and (ii) the date of the meeting of the Board of Trustees of the Trust, at which meeting this Agreement is approved as described below. The Agreement will continue in effect for a period more than two years from the date of its execution only so long as such continuance is specifically approved at least annually either by the Trustees of the Trust or by a majority of the outstanding voting securities of each of the Portfolios, provided that in either event such continuance shall also be approved by the vote of a majority of the Trustees of the Trust who are not interested persons (as defined in the Investment Company Act) of any party to this Agreement cast in person at a meeting called for the purpose of voting on such approval. Any required shareholder approval of the Agreement or of any continuance of the Agreement shall be effective with respect to any Portfolio if a majority of the outstanding voting securities of the series (as defined in Rule 18f-2(h) under the Investment Company Act) of shares of that Portfolio votes to approve the Agreement or its continuance, notwithstanding that the Agreement or its continuance may not have been approved by a majority of the outstanding voting securities of (a) any other Portfolio affected by the Agreement or (b) all the portfolios of the Trust. If any required shareholder approval of this Agreement or any continuance of the Agreement is not obtained, the Subadviser will continue to act as investment subadviser with respect to such Portfolio pending the required approval of the Agreement or its continuance or of a new contract with the Subadviser or a different adviser or subadviser or other definitive action; provided, that the compensation received by the Subadviser in respect of such Portfolio during such period is in compliance with Rule 15a-4 under the Investment Company Act. This Agreement may be terminated at any time, without the payment of any penalty, by the Trustees of the Trust, by the vote of a majority of the outstanding voting securities of the Trust, or with respect to any Portfolio by the vote of a majority of the outstanding voting securities of such Portfolio, on sixty days' written notice to the Adviser and the Subadviser, or by the Adviser or Subadviser on sixty days' written notice to the Trust and the other party. This Agreement will automatically terminate, without the payment of any penalty, in the event of its assignment (as defined in the Investment Company Act) or in the event the Advisory Agreement between the Adviser and the Trust terminates for any reason.

  • Duration and Termination This Agreement shall become effective on July 21, 2015 and shall continue in effect until February 28, 2017, and thereafter, only if such continuance is approved at least annually by a vote of the Board, including the vote of a majority of the directors who are not parties to this Agreement or interested persons of any such party, cast in person, at a meeting called for the purpose of voting such approval. In addition, the question of continuance of this Agreement may be presented to the shareholders of the Portfolio; in such event, such continuance shall be effected only if approved by the affirmative vote of the holders of a majority of the outstanding voting securities of the Portfolio. This Agreement may at any time be terminated without payment of any penalty either by vote of the Board or by vote of the holders of a majority of the outstanding voting securities of the Portfolio, on not more than (60) sixty days’ written notice to the Manager. This Agreement shall automatically terminate in the event of its assignment. This Agreement may be terminated by the Manager after ninety (90) days’ written notice to the Fund. Any notice under this Agreement shall be given in writing, addressed and delivered, or mailed post-paid, to the other party at any office of such party. As used in this Section, the terms “assignment,” “interested persons,” “voting securities,” and a “majority of the outstanding voting securities” shall have the respective meanings set forth in Section 2(a)(4), Section 2(a)(19), Section 2(a)(42) of the 1940 Act and Rule 18f-2 thereunder.

  • Term of Contract and Termination (1) This Contract shall enter into force with retroactive effect on Contract award. It documents the mutual rights and obligations on the delivery of gas by the Supplier on the basis of one or more successful tenders in the OGE call for tenders for fuel gas. This Contract shall end at the end of the delivery period without notice having to be given.

  • Expiration and Termination This Agreement is for one academic year (August 1, 2018 through July 31, 2019) and will automatically renew for the following academic year unless terminated as indicated below by either party.

  • Term of Agreement This Agreement shall continue in full force and effect until the tenth (10th) anniversary of Bank Closing; provided, that the provisions of Section 6.3 and 6.4 shall survive the expiration of the term of this Agreement; and provided further, that the receivership of the Failed Bank may be terminated prior to the expiration of the term of this Agreement, and in such event, the guaranty of the Corporation, as provided in and in accordance with the provisions of Section 12.7 shall be in effect for the remainder of the term of this Agreement. Expiration of the term of this Agreement shall not affect any claim or liability of any party with respect to any (i) amount which is owing at the time of such expiration, regardless of when such amount becomes payable, and (ii) breach of this Agreement occurring prior to such expiration, regardless of when such breach is discovered.

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