Operating Subsidiary Board Clause Samples

Operating Subsidiary Board. (a) The Operating Subsidiary Board shall initially consist of ** directors (or such number as said board may unanimously determine from time to time, provided, however that the number of directors of the Operating Subsidiary Board shall in no event be less than ** nor more than ** (b) Subject to Section 11 and unless prohibited by law or the constitutive documents of the Operating Subsidiary, the Operating Subsidiary Board shall act by simple majority vote (d) Each of the Class A Shareholder and the Class B Shareholder agree to cause the Company and the Company shall vote the shares of the Operating Subsidiary held by it to elect and appoint as directors on the Operating Subsidiary Board, the nominees of the Class A Shareholder and the nominees of the Class B Shareholder in the proportion set forth in sub-Sections (a) and (c) of this Section 17.4.