Common use of Incumbent Board Clause in Contracts

Incumbent Board. The individuals who constitute the Board at the beginning of the twelve (12) month period set forth in Section 1.1(e)(iii) above, and any new director whose election by the Board or nomination for election by Limited’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of such 12-month period or whose election or nomination for election was previously approved in the manner described in this sentence.