Examples of Majority Directors in a sentence
Majority Directors shall continue as directors and such additional voting right shall continue until such time as such default, event of default or event is cured, at which time such Majority Directors shall cease to be directors and such additional voting right of the Series A Preferred Stock and Series B Preferred Stock shall terminate subject to revesting in the event of each and every subsequent event of the character indicated above.
If, during the year, one or more directors drawn from the list that obtained the largest number of votes (the “Majority Directors”) cease to serve for any reason, they will be replaced as follows on condition that the majority of the directors elected at the Meeting continues to serve:a) the Board of Directors will replace the Majority Directors who have ceased to serve by co- opting new directors, pursuant to art.
The Majority Directors or the Blocking Director(s) may terminate the mediation at any time by notice to the Majority Directors or Blocking Directors as applicable.
If the Mediation is terminated without a satisfactory resolution, then either the Majority Directors (by the written request of each Director making up the Majority Directors) or any Blocking Director may request Arbitration of the Failed Matter under Section 3.
The Majority Directors believe the negative effects of this competitive environment on profitability are likely to be amplified by increasingly challenging economic conditions.