Examples of Cheniere Separation Event in a sentence
Notwithstanding anything in this Agreement to the contrary, CEI shall not, other than in connection with a Termination Transaction or with the affirmative vote of Shareholders holding at least a majority of the Outstanding Common Shares, cause a Cheniere Separation Event to occur unless, at the time such Cheniere Separation Event would become effective, the Company has at least three Independent Directors serving on the Board of Directors.
On or after the occurrence of a Cheniere Separation Event, the Directors shall be elected by the affirmative vote of Members holding the lesser of (i) a majority of the Outstanding Common Shares and (ii) 67% of the Common Shares present at a meeting of the Members at which there is a quorum.
On or after the occurrence of a Cheniere Separation Event, an annual meeting of Shareholders for the transaction of such business as may properly come before the meeting shall be held on such day and at such time and place as the Board of Directors shall specify.
Upon the election of CEI at any time or upon the occurrence of a Cheniere Separation Event, the sole Voting Share shall be redeemed by the Company in its entirety for one dollar ($1), effective concurrently with such election.
Prior to the occurrence of a Cheniere Separation Event, meetings of the Shareholders for the transaction of such business as may properly come before such meeting shall be held on such day and at such time and place as the Board of Directors shall specify.
Any Director or the entire Board may be removed at any time, with or without cause, by the Member designating such Director; provided, that the Class A Directors shall be removed immediately upon a Cheniere Separation Event without any further action by the Members.
Unless a provision of this Agreement specifically provides otherwise, prior to a Cheniere Separation Event, any provision of this Agreement requiring the authorization of, or action taken by, the Members shall require the approval of the Members holding a majority of the Class A Membership Interests.
After a Cheniere Separation Event, the Class B Members shall have the right to designate all of the Directors.
Prior to a Cheniere Separation Event, (a) the Class A Members shall have the right to designate three (3) Directors (the “Class A Directors”), who shall initially be [—], [—] and [—], and (b) the Class B Members shall have the right to designate one (1) Director (the “Class B Director”), who shall initially be [—].
Upon the election of CEI or upon the occurrence of a Cheniere Separation Event, the sole Voting Share shall be redeemed in its entirety for one dollar ($1), effective concurrently with such election.