Default Director definition

Default Director shall have the meaning set forth in Section 12 hereof.
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Default Director has the meaning set forth in the Stockholders' Agreement.
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Default Director has the meaning set forth in Section 4(c) hereof.
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Examples of Default Director in a sentence

  • If any such term expires prior to the end of the Default Period, the holders of a majority of the then outstanding Swiss Re Preferred Shares or the Reliance Preferred Shares, or each of them (as the case may be), shall be entitled to designate a successor Default Director (which may again be the Retiring Director).

  • Any Default Director may be removed at any time with or without cause by, and shall not be removed otherwise than by the vote of, the holders of record of a majority of the outstanding shares of Series B Preferred Stock and all series of Parity Stock upon which like voting rights have been conferred and are exercisable (voting together as a class).

  • Upon the creation of any such vacancy or vacancies, the Company shall use its best efforts to have such vacancy or vacancies filled (pursuant to the Stockholders' Agreement) by the Default Director designated by the person delivering such resignation.

  • Any other provision of this Certificate of Designation or the Certificate of Incorporation or By-laws of the Corporation notwithstanding, no Default Director may be removed except in the manner provided for in this paragraph.

  • Each Default Director shall be elected pursuant to Section 4(d) hereof for a term which shall end when the term of the other members of the class of directors to which such Default Director shall be assigned shall end (such Default Director, at the time of the expiration of such Default Director's term, a "Retiring Director").

  • Any vacancy in the position of a Default Director may be filled only by the Holders.

  • Each Default Director may, during his or her term of office, be removed at any time, with or without cause, by and only by the affirmative vote, at a special meeting of Holders called for such purpose, or the written consent, of the Holders of a majority of the then outstanding Preferred Shares.

  • Two public hearings were organized by the Ministry in connection with the EIA process (prescribed by the EIA Act) and the Government DiP (specified by the Nuclear Energy Act), respectively.

  • Section 4.4 hereof, or if a vacancy exists in the office of the Series B Default Director elected by the holders of shares of the Series B Preferred Stock, an officer of this corporation may, and upon the written request of the record holders of at least 25% of the shares of Series B Preferred Stock then outstanding addressed to the secretary of this corporation must, call a special meeting of the holders of the Series B Preferred Stock, for the purpose of electing a new Series B Default Director.

  • The Default Director shall be appointed and shall serve in accordance with Section 6.12 hereof.


More Definitions of Default Director

Default Director has the meaning given to such term in Section 3(b) of this Article IX.
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Related to Default Director

  • Default Date the meaning set forth in Section 3.2(a).

  • default fund means a fund established by a CCP in accordance with Article 42 of Regulation (EU) No 648/2012 and used in accordance with Article 45 of that Regulation;

  • Investor Default Amount means, with respect to any Distribution Date, an amount equal to the product of (a) the Defaulted Amount for the related Monthly Period and (b) the Floating Allocation Percentage for such Monthly Period.

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Class B Investor Default Amount means, with respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for such Distribution Date and (ii) the Class B Floating Percentage for such Monthly Period.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Prime Rate.

  • Default Period means any period of time beginning on the first day of any month during which a Default or Event of Default has occurred and ending on the date the Lender notifies the Borrower in writing that such Default or Event of Default has been cured or waived.

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • Potential Default means the occurrence of any event or condition which, with the giving of notice, the passage of time, or both, would constitute an Event of Default.

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Default Right has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Lease Default means any event or condition which, with the lapse of time or the giving of notice, or both, would constitute a Lease Event of Default.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Default Under First Lien With respect to each Second Lien Loan, the related First Lien Loan related thereto is in full force and effect, and there is no default, breach, violation or event which would permit acceleration existing under such first Mortgage or Mortgage Note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration thereunder;

  • Insurer Default means the occurrence and continuance of any of the following events:

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Class A Investor Default Amount means, with respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for such Distribution Date and (ii) the Class A Floating Percentage for such Monthly Period.