Independent Board definition
Examples of Independent Board in a sentence
To the extent the Independent Board Designee is not identified at Closing, then, following the selection of such Independent Board Designee by the Lead Investor and the agreement to such selection by the Company, the Nominating and Corporate Governance Committee of the Company Board and the Company Board shall take all actions necessary to promptly appoint such Independent Board Designee to the Company Board.
The Trustee may be removed with five (5) days’ prior written notice by Stockholder and a majority vote of the Independent Board for failure to adhere in all material respects to the terms and conditions of this Agreement.
This Agreement may only be amended with the written consent of each of (i) the majority of the Independent Board, (ii) Stockholder and (iii) the Trustee.
Thereafter, if not terminated, this Agreement shall continue automatically for successive periods of twelve months each, provided that such continuance is specifically approved at least annually: (i) by a vote of a majority of the Independent Board Members of the Trust, cast in person at a meeting called for the purpose of voting on such approval, and (ii) by the Board or, with respect to any given Fund, by vote of a majority of the outstanding voting securities of such Fund.
Subject to the provisions of this Agreement, the duties of any sub-adviser or delegate, the portion of portfolio assets of the Trust that the sub-adviser or delegate shall manage and the fees to be paid to the sub-adviser or delegate by Adviser under and pursuant to any sub-advisory agreement or other arrangement entered into in accordance with this Agreement may be adjusted from time to time by Adviser, subject to the prior approval of a majority of the Independent Board Members.