Examples of Majority Director Vote in a sentence
The redemption of the Rights pursuant to this Section 23(a) may be made effective at such time, on such basis and with such conditions as the Board of Directors of the Company, in its sole discretion, may establish (as approved by a Majority Director Vote).
Notwithstanding anything contained in this Rights Plan to the contrary, no supplement or amendment may be made after the time that any Person becomes an Acquiring Person unless such supplement or amendment (i) does not adversely affect the interests of the holders of Rights, and (ii) is approved by a Majority Director Vote.
Except as otherwise provided in the definition of Majority Director Vote: (i) each Director shall have one vote, and (ii) a Majority Director Vote shall be the act of the Board.
If no resolution can be reached within such 30-day period, then the Budget for the immediately preceding year shall, by default, remain in effect for such year, subject to any other subsequent determination by the Board pursuant to a Majority Director Vote; provided that, if any Founding Member provides notice as set forth in Section 9.1, then such Founding Member shall have the right to withdraw from the Company as a Member in accordance with Section 9.1.
The Board may, subject to Section 4.5(q), increase or, subject to the other provisions of this Section 4.2, decrease the number of Directors comprising the entire Board (and, if applicable, amend the definition of Majority Director Vote).
The authority, duties or responsibilities of any Officer may be suspended and/or employment of any Officer terminated by the Board with or without Cause pursuant to a Majority Director Vote.
In the event that the Board fails to approve (pursuant to Section 4.8) with a Majority Director Vote any Budget on or before March 31st of each year (a “Budget Deadlock”), then the chief executive officers (or other appropriate officers) of each Founding Member shall meet during a period of the next 30 calendar days to discuss the reasons for such Budget Deadlock and to consider solutions to resolve such Budget Deadlock.
Matters Requiring Board Approval by Simple Majority Director Vote.
Any action required or permitted to be taken at any meeting of the Board may be taken without a meeting and without a vote, if a written resolution or consent, setting forth the action so taken, is signed by sufficient Directors to pass a Majority Director Vote on the action so taken.