Common use of Qualifications of Directors Clause in Contracts

Qualifications of Directors. No person shall be elected or appointed a director if that person is less than 18 years of age, is of unsound mind and has been found so by a court, is not an individual, or has the status of a bankrupt. Directors may, but need not, be Stockholders.

Appears in 7 contracts

Samples: Stockholders’ Agreement (Motient Corp), Stockholders’ Agreement (Skyterra Communications Inc), Stockholders' Agreement (Motient Corp)

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Qualifications of Directors. No person shall be elected or appointed a director if that person is less than 18 years of age, is of unsound mind and has been found so by a court, is not an individual, or has the status of a bankrupt. Directors may, but need notnot be, be StockholdersMembers.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Motient Corp)

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