Examples of Board Seat in a sentence
Except with respect to a Youth Board Seat, a stakeholder must be at least 16 years of age on the day of the election or selection to be eligible to vote.
If less than eighteen (18) years of age, the Youth Board Seat member shall be precluded from voting on financial matters, such as neighborhood council expenditures, financial reports, annual budgets, contracts, and recommendations to enter into contracts.
No nomination or election is necessary for this seat and when Cameron Madill is no longer a Patron Member of the Cooperative, this Board Seat shall be abolished.
If a Sponsor Stockholder fails to designate a nominee to fill an Additional Board Seat by the time such Additional Board Seat is created pursuant to Section 2.1 of this Agreement, the Board of Directors shall have the right to designate a nominee to fill such Additional Board Seat.
The Company shall take all Necessary Action to increase the size of the Board of Directors as provided in this Section 2.1. The Company agrees not to increase the size of the Board of Directors to create an Additional Board Seat any earlier than is required by this Section 2.1 if one or more of the Sponsor Stockholders is entitled, but unable at such time, to designate a nominee to fill such Additional Board Seat.
The Board of Directors shall cause one director designated by the Board of Directors pursuant to this Section 2.4 not to stand for reelection at such annual meeting of stockholders for each Additional Board Seat with respect to which a Sponsor Stockholder has regained designation rights pursuant to this Section 2.4 and has designated a nominee pursuant to such rights.
The first directors of the Company shall be appointed by the subscribers to the Memorandum; and thereafter, the directors, including the Springing Board Seat, shall be elected by the members for such term as the members determine in the resolution of members approving such appointment.
To be considered for a Board Seat, a CFCC Chamber Member must have some Chamber experience i.e. volunteering at events, regular attendance at Chamber functions or serving on a Chamber Committee.
Each board seat created by increasing the size of the Board of Directors in excess of the Initial Board Seats pursuant to this Section 2.1 shall be referred to herein as an “Additional Board Seat.” The Company shall increase the size of the Board of Directors pursuant to this Section 2.1 to create an Additional Board Seat upon the request of a Sponsor Stockholder that is then entitled to designate a nominee to fill an Additional Board Seat.
If a Sponsor Stockholder has not designated a nominee to fill an Additional Board Seat that is to be created by increasing the size of the Board of Directors pursuant to this Section 2.1, the Company shall send notice to such Sponsor Stockholder thirty (30) days prior to the deadline by which the Board of Directors is to be expanded pursuant to this Section 2.1.