Failure to Convene Sample Clauses
The "Failure to Convene" clause defines the consequences and procedures that apply if a required meeting or assembly of parties does not take place as scheduled. Typically, this clause outlines what happens if a quorum is not met or if the meeting is otherwise unable to proceed, such as rescheduling the meeting, carrying over agenda items, or allowing certain decisions to be made without a formal meeting. Its core practical function is to ensure that the business or governance of the entity can continue smoothly despite disruptions, providing a clear process to address and resolve the issue of a missed or failed meeting.
Failure to Convene. If the Subscription Receipt Agent fails, within five Business Days after receipt of such Written Request of the Corporation or Subscription Receiptholders' Request, funding and indemnification, to give notice convening a meeting, the Corporation or any of such Subscription Receiptholders, as the case may be, may convene such meeting.
Failure to Convene. If the Warrant Agent fails, within fifteen (15) Business Days after receipt of such written request of the Company, funding and indemnification, to give notice convening a meeting, the Company may convene such meeting.
Failure to Convene. If the Trustee fails, within ten days after receipt of such Written Request of the Company or Special Warrantholders’ Request, funding and indemnification, to give notice convening a meeting, the Company or any of such Special Warrantholders, as the case may be, may convene such meeting.
Failure to Convene. If the FT Subscription Receipt Agent fails, within five Business Days after receipt of such written request of the Corporation or FT Subscription Receiptholders' Request, funding and indemnification, to give notice convening a meeting, the Corporation or any of such FT Subscription Receiptholders, as the case may be, may convene such meeting.
Failure to Convene. If the Directors do not proceed to convene a meeting of Members within 21 days of the written request to requisition a meeting being lodged the requisitionists, or any of them together holding at least half of the voting rights of all of them, may convene the meeting of Members in the same manner as nearly as possible as that in which a meeting of Members may be convened by a Director. Where the requisitionists fail to convene the meeting of Members within three months of their right to convene the meeting arising, the right to convene the meeting of Members shall lapse.