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

  • 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").

  • 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.

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

  • So long as a Dividend Payment Failure or Put Default shall continue, any vacancy in the office of a Default Director may be filled by written consent of the Default Directors remaining in office, or if none remains in office, by a vote of the holders of record of a majority of the outstanding shares of Series B Preferred Stock when they have the voting rights described above (voting together as a class with all series of Parity Stock upon which like voting rights have been conferred and are exercisable).

  • Such successor Default Director shall be designated and elected for a term equal to the term of the class of directors to which the Retiring Director was elected pursuant to the provisions hereof.

  • Immediately upon the accrual of the Special Voting Rights, the number of directors of the Company shall, ipso facto, be increased by one and the Default Director shall be elected only by vote of the holders of a majority of the then outstanding shares of Series B Preferred Stock, voting together as a class.


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 has the meaning set forth in Section 3.3(a).

  • default fund means a default fund held by a CCP in accordance with Article 42 of Regulation (EU) No 648/2012;

  • 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.

  • Compensation Event means any of the following events or circumstances if and to the extent that it interferes adversely with, or causes a failure of, the carrying out of the Design, the Construction or the Services, causes an Unavailability Event or causes Direct Losses to Project Co or any Project Co Person: