Magellan Board definition
Examples of Magellan Board in a sentence
In addition, Purchaser shall agree to maintain the confidentiality of non-public information regarding Magellan Petroleum of which it becomes aware as a result of its right to designate a member of the Magellan Board, and not to trade in Magellan Petroleum securities while in possession of material non-public information regarding Magellan Petroleum.
Confidential information provided to Total or any Total-Tellurian Director or Total-Magellan Director by or on behalf of Tellurian or Magellan may only be used by Total or any Total-Tellurian Director or Total-Magellan Director for purposes of their respective activities as a member of the Tellurian Board or Magellan Board or as an investor in Tellurian or Magellan, as applicable.
In addition, the Magellan Board will form a Strategic Committee of independent directors including: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇; ▇▇▇▇▇ ▇▇▇▇, who will chair the Strategic Committee; ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇; and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇.
Magellan shall take such action as shall be necessary so that, on the date hereof or such later date as Aetna USHC shall designate, the Aetna USHC Representative(s) (as defined below) shall be appointed to the Board of Directors of Magellan (the "Magellan Board") at the next annual meeting of Magellan's stockholders for a term in office expiring three years thereafter.
I look forward to working with our new directors and benefitting from their perspectives and contributions.” ▇▇▇▇▇ ▇▇▇▇, Managing Member of Starboard, said, “We are pleased to have worked constructively with the Magellan Board and management team to reach this agreement to strengthen the Board with new independent directors and to create a new Strategic Committee of the Board.
The Magellan Board, at a meeting duly called and held, has duly and unanimously adopted resolutions (A) approving this Agreement and the transactions contemplated hereby, (B) declaring this Agreement and the transactions contemplated hereby advisable and (C) recommending that the Magellan Stockholders adopt this Agreement.
Any notice required under Rule 14f-1 under the Exchange Act concerning the changes in the composition of the Magellan Board as herein provided shall be made on a timely basis.
This Agreement may be terminated and the transactions contemplated hereby abandoned at any time prior to the Closing: (l) by the mutual written consent of the Magellan Board and One Stone Board of Managers in a written instrument.
If, at any time, an Aetna USHC Representative no longer continues to serve as a director on the Magellan Board for any reason (including, without limitation, resignation, death or disability), at the request of Aetna USHC, Magellan shall use its best efforts to ensure that such vacancy shall be filled by another Aetna USHC Representative.
If no vacancy exists at the Magellan Board at the time of such appointment, the Aetna USHC Representative(s) shall have a right to participate (with no voting power) at the Magellan Board meetings following the Effective Date until the Aetna USHC Representative(s) is duly elected by the stockholders.