Board Seat definition

Board Seat. The Investor shall have the right to appoint one (1) director to the Company’s board of directors. Preference Rights of the Investor: The Investor shall enjoy customary preference, privileges and rights as holder of preference shares, including without limitation to rights on voting, veto, liquidation preference, conversion, anti-dilution, registration, information and inspection, dividend, right of first refusal and co-sale, drag-along and redemption. Preferences and rights attached to Series E Preferred Shares shall be more favorable than those of Company’s existing common shares and preferred shares. Closing Conditions: The obligations of the Investor to close the proposed Transaction will be subject to the fulfillment of customary closing conditions, including (but not limited to): (1) satisfactory completion of financial and legal due diligence by the Investor; (2) execution and delivery of the Definitive Agreements; and (3) receipt of all approvals, consents and qualifications, as necessary, to execute the Definitive Agreements by all transaction parties (including approvals from the Investor’s board).
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Board Seat means a seat on the Buyer’s board of directors, which shall entitle the holder of such seat to all of the privileges, terms, conditions and responsibilities enjoyed or assumed by all other members of the Buyer’s Board of directors;
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Board Seat. As long as the Seller holds more than 5% of Purchaser’s outstanding capital stock but at least for a period of one year from the Closing Date, Seller shall be entitled to have one Board seat at Purchaser. Purchaser shall be obliged to procure that all future shareholders of Purchaser are legally bound to obey this right of Seller and to participate within their legal powers in appointing/revoking/replacing the person designated by Seller for such Board seat as per the instructions of Seller. [***] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
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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.

  • 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 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.

  • Any director appointed or nominated by the Board of Directors pursuant to this Section 2.4 shall serve until the next annual meeting of stockholders at which directors are to be elected, at which time the Sponsor Stockholder that failed to originally designate a nominee to fill the Additional Board Seat shall, subject to Section 2.3 of this Agreement, again have the right to designate a nominee to fill such Additional Board Seat.

  • 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.

  • 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.

  • 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.

  • In any such case described in clauses (i) through (iv) of the immediately preceding sentence, the Shareholder will withdraw the designation of such proposed Shareholder Designee and, during the Board Seat Period, be permitted to designate a replacement therefor (which replacement Shareholder Designee will also be subject to the requirements of this Section 2.2).


More Definitions of Board Seat

Board Seat means a seat on IRC’s board of directors, which shall entitle the holder of such seat to all of the privileges, terms, conditions and responsibilities enjoyed or assumed by all other members of the IRC board of directors;
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Board Seat. So long as you are employed as Chief Executive Officer, the Company will use its reasonable efforts, subject to applicable law and the rules of the Nasdaq Stock Market (“Nasdaq”) and the Company’s bylaws, to cause you to be nominated for election to the Board at the Company’s annual shareholder meeting (and for future years, re-election) as a director of the Company. Base Salary: $595,000 per year (the “Base Salary”) to be paid according to the Company’s normal payroll cycle. Your Base Salary will be reviewed at least annually and may be adjusted upward or downward by the Compensation Committee of the Board of Directors (the “Compensation Committee”) in its sole discretion. CEO Equity Grant: On the Start Date, you will be granted 50,000 Restricted Stock Units under our 2012 Omnibus Equity Incentive Plan, as amended (the “Equity Plan”). The Grant will be subject to a 5-year annual vesting schedule with the first annual vesting and issuance occurring on the one-year anniversary of the Start Date. The Grant will be subject to such other terms and conditions specified by the Compensation Committee, the Equity Plan, the award agreement that you must execute as a condition of the grant, and the Company’s xxxxxxx xxxxxxx policy. Annual Incentive Opportunity: Beginning January 1, 2020 and for each full calendar year during the Term thereafter, you will be eligible to participate in an annual incentive program adopted in writing and approved by the Compensation Committee (the “AIP”). Your target incentive under the AIP will equal 100% of your Base Salary as of the first day of the calendar year, with the opportunity to earn up to (but not exceed) 150% of your Base Salary as of the first day of the calendar year. Whether you are entitled to receive an AIP payment, and the amount and form of such payment, will depend on the attainment of written quantitative and qualitative performance goals, including financial performance goals, establish by the Compensation Committee in its sole discretion. The amount and form of the AIP, if any, will be certified by the Compensation Committee in February of the year following the year to which the AIP relates, and the earned AIP, if any, will be paid to you no later than March 15 of the year following the year to which the AIP relates (e.g., the AIP for 2020, if any, will be paid no later than March 15, 2021). Except as set forth below, you must be employed by the Company through the date the AIP is paid in order to earn and be e...
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Board Seat. WNRG shall have the right to elect one director of the Company upon purchase of all shares shown above.
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Board Seat. You will be nominated for appointment to both the Board of ----------- Commercial Federal Corporation and that of Commercial Federal Bank, requiring confirmation by the full Board of Directors.
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Board Seat. As provided in subsection (d) of Section 3.2 above, immediately prior to the Closing, the Board of Directors of Accessity shall have designated an individual to serve on the Board of Directors of Accessity as a Class II director (thereby holding such board seat until the annual meeting of Accessity shareholders to be held in the fourth calendar quarter of 2005).
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Board Seat. As long as the Seller holds more than 5% of Purchaser’s outstanding capital stock but at least for a period of one year from the Closing Date, Seller shall be entitled to have one Board seat at Purchaser. Purchaser shall be obliged to procure that all future shareholders of Purchaser are legally bound to obey this right of Seller and to participate within their legal powers in appointing/revoking/replacing the person designated by Seller for such Board seat as per the instructions of Seller.
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Related to Board Seat

  • Sandwich Board Sign means a temporary sign made of metal, wood, chalkboard, or white board that is not permanently attached to the ground and generally oriented to pedestrians.

  • shadow director means, in relation to a company, any person in accordance with whose directions or instructions the directors of the company are accustomed to act, but the person is not deemed to be a shadow director by reason only that the directors act on advice given by that person in a professional capacity; and

  • Deputy Director means the Deputy Director of the Authority, as the case may be.

  • Board Chair means the chair of the Board;

  • Company Director means a member of the Board.

  • Parent Directors means the Directors elected or appointed pursuant to Articles 53 – 56 inclusive;

  • Series B Director means any director of the Company that the holders of record of the Series B Preferred Stock are entitled to elect pursuant to the Company’s Certificate of Incorporation.

  • MUSL Board means the governing body of the MUSL, which is comprised of the chief executive officer of each Party Lottery.

  • New Directors means any director whose election by the Board or whose nomination for election by the Company's stockholders was approved by a vote of at least two-thirds of the directors then still in office who were Present Directors or New Directors.

  • New Director means an individual whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the Date of Grant or whose election or nomination for election was previously so approved or recommended. However, “New Director” shall not include a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation relating to the election of directors of the Company.

  • CPF Board means the Central Provident Fund Board, a body corporate established under the Central Provident Fund Act (Cap. 36);

  • Public Director means a Person that meets the qualifications described in Rule 207(e).

  • Management Director means a Person selected in accordance with Article IV of this Agreement who shall have the powers and duties to manage the business and affairs of the Company and exercise its powers to the extent set forth in this Agreement, the Certificate and the Act. Each Management Director shall be a “manager” of the Company within the meaning of the Act.

  • Lead Director means, at any given time, the lead, independent member (if any) elected as such by the Board and occupying such position.

  • School board means the governing board of directors of the local school district.

  • Athletic director means an individual responsible for administering the overall athletic program of an educational institution or, if an educational institution has separately administered athletic programs for male students and female students, the athletic program for males or the athletic program for females, as appropriate.

  • (1) BOARD.—The term Board’ means the

  • Continuing Director means, with respect to any Person as of any date of determination, any member of the board of directors of such Person who (a) was a member of such board of directors on the Closing Date, or (b) was nominated for election or elected to such board of directors with the approval of a majority of the Continuing Directors who were members of such board at the time of such nomination or election.

  • Regional Director means the Regional Director of the Southwestern Region of the Ministry;

  • Full Board means the authorized number of voting members of the Board of Education.

  • Board or Board of Directors means the Board of Directors of the Company.

  • Board Designee means an employee of the Board who has been given authority by the Board to carry out a function for the Board (e.g., the Clerk, Assistant Clerk of the Board, or hearing officer).

  • Continuing Directors means, as of any date of determination, any member of the Board of Directors of the Company who (i) was a member of such Board of Directors on the date of this Indenture or (ii) was nominated for election or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board at the time of such nomination or election.

  • College board means the state board for community and

  • Executive Directors means a person appointed as director directly accountable to the municipal manager.

  • Seattle Human Resources Director means the director of the Seattle Department of Human Resources or his or her designated management representative.