General Direct Action definition

General Direct Action means an action, suit or other proceeding asserting a direct claim of any nature whatsoever (regardless of whether such claim (x) sounds in contract, tort, fraud or otherwise or (y) is based on common law, statutory, equitable, legal or other grounds) where the harm alleged falls upon all shareholders of a Series or class (and not an individual harm only to the shareholder or shareholders bringing such action, suit or other proceeding) on a pro rata basis and/or proportionally based on their interests in such Series or class.
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General Direct Action. 2 (m) “Interested Person” 2
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General Direct Action means an action, suit or other proceeding asserting a direct claim of any nature whatsoever (regardless of whether such claim (x) sounds in contract, tort, fraud or otherwise (including without limitation claims involving violation of Shareholders’ rights under this Declaration and any other alleged violation of contractual or individual rights that might otherwise give rise to a direct claim) or (y) is based on common law, statutory, equitable, legal or other grounds) (in each case, a “claim” for purposes of this definition) where the harm alleged falls upon or where such claim affects all Shareholders of a Series or Class (and not an individual harm to or effect on solely the Shareholder or Shareholders bringing such action, suit or other proceeding) on a pro rata basis and/or proportionally based on their interests in such Series or Class;
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Examples of General Direct Action in a sentence

  • No Shareholder may maintain a General Direct Action unless holders of at least ten percent (10%) of the outstanding Shares or, if less than all outstanding series or classes are alleged to have been harmed in connection with the General Direct Action, ten percent (10%) of the Shares in the respective series, class or classes alleged to have been harmed, join in the bringing of such action.

  • To the fullest extent permitted by Delaware law, the Shareholders’ right to bring a General Direct Action against the Trust and/or its Trustees is eliminated, except for a General Direct Action to enforce an individual Shareholder right to vote or a General Direct Action to enforce an individual Shareholder’s rights under Sections 3805(e) or 3819 of the Delaware Statutory Trust Act.


More Definitions of General Direct Action

General Direct Action means an action, suit or other proceeding asserting a direct claim of any nature whatsoever (regardless of whether such claim (x) sounds in contract, tort, fraud or otherwise (including without limitation claims involving violation of Shareholders’ rights under this Declaration and any other alleged violation of contractual or individual rights that might otherwise give rise to a direct claim) or (y) is based on common law, statutory, equitable, legal or other grounds) (in each case, a “claim” for purposes of this definition) where the harm alleged falls upon or where such claim affects all Shareholders of a Series or Class (and not an individual harm to or effect on solely the Shareholder or Shareholders bringing such action, suit or other proceeding) on a pro rata basis and/or proportionally based on their interests in such Series or Class;
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Related to General Direct Action

  • Funeral directing means arranging, directing or providing a

  • Funeral director means any person engaged in the practice of funeral directing.

  • Managing general agent or "MGA" means any person, firm, association or corporation who manages all or part of the insurance business of an insurer, including the management of a separate division, department or underwriting office, and acts as an agent for such insurer whether known as a managing general agent, manager or other similar term, who, with or without the authority, either separately or together with affiliates, produces, directly or indirectly, and underwrites an amount of gross written premium equal to or more than 5% of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year together with one or more of the following:

  • Clinical Director means an individual who meets the minimum requirements set forth in Title 9, CCR, and has at least two (2) years of full-time professional experience working in a mental health setting.

  • Medical direction means direction, advice, or orders provided by a medical director, supervising physician, or physician designee (in accordance with written parameters and protocols) to emergency medical care personnel.

  • Account Manager means a Person that acts as an agent and attorney-in- fact to buy or sell Swaps via the SEF operated by BSEF in the name and on behalf of another Person. An Account Manager may also be a Participant.

  • Vigilance Officer means an officer appointed to receive protected disclosures from Whistle Blower, maintaining records thereof, placing the same before the Audit Committee for its disposal and informing the Whistle Blower the result thereof.

  • Solvency II Directive means Directive 2009/138/EC of the European Parliament and of the Council of the European Union of 25 November 2009 on the taking-up and pursuit of the business of insurance and reinsurance (Solvency II);

  • Medical director means any physician licensed under Iowa Code chapter 148, 150, or 150A who shall be responsible for overall medical direction of the service program and who has completed a medical director workshop, sponsored by the department, within one year of assuming duties.

  • the Macfarlane (Special Payments) Trust means the trust of that name, established on 29th January 1990 partly out of funds provided by the Secretary of State, for the benefit of certain persons suffering from haemophilia;

  • Service Planning Team or “SPT” means a team who includes the Individual and/or the Individual’s identified support network, Contractor’s lead administrative staff supporting medical, behavioral and activity oversight called out in this Contract, Contractor’s Administrator or designee and ODHS Designee. The team is responsible for overseeing the Individual’s Service Plan and all other associated plans or services in this Contract.

  • Chief Finance Officer means the officer having responsibility for the purposes of section 151 of the Local Government Act 1972 (financial administration) for the administration of the local authority’s financial affairs.