Bank Boards definition

Bank Boards has the meaning set forth in Section 4.16(a).

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Bank Boards means the Board of Directors of CBNA and the Board of Directors of CBPA, collectively.

Bank Boards means the Board of Directors of the Banks. (h) “Base Salary” shall have the meaning set forth in Paragraph 5(a) hereof. (i) “Change of Control” means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow; (ii) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock of Arrow acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group, constitutes 30% or more of the total voting power of the stock of Arrow;

Examples of Bank Boards in a sentence

• The Observer shall not have any right to vote on any matter presented to the Board, the Bank Boards or any committee thereof.

• Effective January 1, 2009, the Sick Leave Bank Policies in Appendix A of this agreement shall govern both the Amherst and Boston Sick Leave Bank Boards.

• If the Arrow Board and the Bank Boards shall determine to offer such a Replacement Agreement to the Executive and the Executive shall accept, this Agreement shall terminate at 11:59 p.m. on the day prior to the commencement date of the Replacement Agreement and the Replacement Agreement shall take effect at 12:00 midnight on such commencement date.

• The Company shall notify the Designated Anchor Investor Directors and the Observers of all regular meetings and special meetings of the Board of Directors or the Bank Boards and of all regular and special meetings of any committee of the Board of Directors or the Bank Boards of which such Designated Anchor Investor Director is a member in accordance with the applicable bylaws.

• The Board of Directors and the Bank Boards shall cause each Designated Anchor Investor Director to be appointed to the committees of the Board of Directors and the Bank Boards, as applicable, identified by the applicable Anchor Investor, so long as such Designated Anchor Investor Director qualifies to serve on such committees subject to satisfaction of all legal and governance requirements regarding service as a committee member.

• Such Termination of Employment of Executive for Disability shall require the affirmative vote of a majority of the entire Arrow Board or Bank Boards.

• The Executive's Base Salary may be increased from time to time in accordance with the normal business practices of Arrow and the Banks, as determined by the Arrow Board and the Bank Boards, and, if so increased, such Base Salary shall not thereafter during the Term be decreased and the obligation of the Banks or Arrow hereunder to pay the Executive's Base Salary shall thereafter relate to such increased Base Salary.

• On or before each anniversary of the Effective Date of this Agreement, each of the Arrow Board and the Bank Boards, will consider and vote upon a proposal to extend to the Executive an offer to replace this Agreement with a new employment agreement (the “Replacement Agreement”) commencing on the date of such anniversary.

• The Company shall ensure that the Board and the Bank Boards shall each have at least four (4) members for so long as Castle Creek shall have the right to appoint a Board Representative.

• The Company, the Bank and any Future Banks shall provide the Board Representative with copies of all notices, minutes, consents and other material that it provides to all members of the Board and the Bank Boards, respectively, at the same time such materials are provided to the other respective members.

More Definitions of Bank Boards

Bank Boards means the Board of Directors of the Banks. (h) "Base Salary" shall have the meaning set forth in Paragraph 5(a) hereof. (i) "Change of Control" means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow; (ii) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock of Arrow acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group, constitutes 30% or more of the total voting power of the stock of Arrow; (iii) A majority of the members of the Arrow Board are replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the members of the Arrow Board before the date of the appointment or election; or (iv) One person, or more than one person acting as a group, acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group) assets from Arrow that have a total gross fair market value (determined without regard to any liabilities associated with such assets) equal to or more than 40% of the total gross fair market value of all of the assets of Arrow immediately before such acquisition or acquisitions. Persons will not be considered to be acting as a group solely because they purchase or own stock of the same corporation at the same time, or as a result of the same public offering. However, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with Arrow. This definition of Change of Control shall be interpreted in accordance with, and in a manner that will bring the definition into compliance with, the regulations under Section 409A of the Code. 15

Bank Boards means the Board of Directors of the Banks. (h) “Base Salary” shall have the meaning set forth in Paragraph 5(a) hereof. (i) “Change of Control” means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow; (ii) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock of Arrow acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group, constitutes 30% or more of the total voting power of the stock of Arrow; (iii) A majority of the members of the Arrow Board are replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the members of the Arrow Board before the date of the appointment or election; or

Bank Boards means collectively the Board of Directors of each of GFNB and Saratoga. (h) “Base Salary” shall have the meaning set forth in Paragraph 5(a) hereof. (i) “Change of Control” means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow; (ii) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock of Arrow acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group, constitutes 30% or more of the total voting power of the stock of Arrow;

Bank Boards means the Board of Directors of the Banks. (h) “Base Salary” shall have the meaning set forth in Paragraph 5(a) hereof. (i) “Change of Control” means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow;