Initial Directors definition

Initial Directors shall have the meaning set forth in Section 2.1(a).

Initial Directors means the First Directors named in the Letters Patent of the Association;

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

Examples of Initial Directors in a sentence

• The chairman of the Initial Board shall be one of the “independent” Initial Directors, and the selection of the chairman shall be subject to the consent of the Second Priority Noteholders Committee and the other creditors or shareholders having appointment rights.

• Any new directors elected on or after the expiration of the terms of the Initial Directors shall be elected by cumulative voting, and the terms of such new directors shall be declassified (i.e., one year).

• New CEC shall use its reasonable best efforts to cause the individuals appointed as Initial Directors to receive all Approvals, including adopting such internal governance structures as may be required to enable an appointee herein contemplated to serve on the New CEC Board of Directors.

• Upon receipt of Approvals for at least nine of the eleven members appointed as Initial Directors, including at least two of the three members appointed by the Second Priority Noteholders Committee and at least one of the two members appointed by the Requisite Consenting Bond Creditors, the Initial Board shall have the powers of a board of directors under Delaware law and New CEC’s Bylaws.

• These Bylaws may be amended by the Initial Directors at any time prior to the first annual meeting of the membership.

More Definitions of Initial Directors

Initial Directors shall have the meaning set forth in Section 4.1 of this Agreement.

Initial Directors means those individuals initially appointed as the directors of the Corporation once it ceased to be wholly-owned by Sara Lee Corporation; provided, however, that any individual who becomes a director of the Corporation at or after the first annual meeting of stockholders of the Corporation whose election, or nomination for election by the Corporation’s stockholders, was approved by the vote of at least a majority of the Initial Directors then comprising the Board (or by the nominating committee of the Board, if such committee is comprised of Initial Directors and has such authority) shall be deemed to have been an Initial Director; and provided further, that no individual shall be deemed to be an Initial Director if such individual initially was elected as a director of the Corporation as a result of: (i) an actual or threatened solicitation by a Person (other than the Board) made for the purpose of opposing a solicitation by the Board with respect to the election or removal of directors; or (ii) any other actual or threatened solicitation of proxies or consents by or on behalf of any Person (other than the Board).

Initial Directors means, collectively, the Initial Harris Directors and Initial Stratex Directors.

Initial Directors shall have the meaning set forth in Article IV.Q.3 hereof.

Initial Directors has the meaning ascribed to such term in Section 3.1(c)(i)(A).

Initial Directors means the initial directors of New Canwest appointed at the time of incorporation of New Canwest under the CBCA.

Initial Directors means those persons who were directors of the Co-operative immediately before the registration of the Co-operative as a Company under Part 5.B1 of the Act;