Examples of Preferred Designees in a sentence
Preferred Designees and Management Designees will be entitled to reimbursement by GDI for reasonable out-of-pocket expenses incurred in connection with the performance of their duties as members of the Board of Directors, including, without limitation, travel expenses incurred in connection with their attendance at meetings of the Board of Directors.
Anything to the contrary in these Articles notwithstanding, until the earlier of: (i) a Qualified IPO; or (ii) an Acquisition, any acquisition of, or material interest in, another entity, in consideration exceeding US$100 million, (whether taken directly or indirectly, by merger, consolidation or otherwise) with respect to the Company or any subsidiary of the Company, if any, will require the affirmative vote of at least three of the Preferred Designees.
Unless otherwise unanimously decided by the Board, a quorum at a meeting of the Board shall be constituted by the presence of a majority of the Directors then in office who are lawfully entitled to participate in the meeting, including two of the Preferred Designees.
The Initial Preferred Designees elected pursuant to paragraph (c) below and the Initial Noteholder Designee elected prior to the Initial Closing shall be the initial Preferred Designees.
The majority of the directors elected pursuant to Article 69.1.1 through 69.1.6 (which shall include the affirmative vote of at least two of the Preferred Designees), shall be entitled to elect two (2) directors, who shall be industry experts.
The initial GS Preferred Designees elected pursuant to paragraph (d) below and the initial Noteholder Designee elected prior to the Initial Closing shall be the initial GS Preferred Designees.
Preferred Designees and Management Designees will be entitled to reimbursement by the Company for reasonable out-of-pocket expenses incurred in connection with the performance of their duties as members of the Board of Directors, including, without limitation, travel expenses incurred in connection with their attendance at meetings of the Board of Directors.
The Issuer hereby covenants and agrees that it shall not enter into any compensation arrangement, including the issuance of restricted stock or stock options, with any officer or director of the Issuer who is affiliated with a Series E Investor without the approval of the Board of Directors, including at least three Senior Preferred Designees.
The persons designated as provided above, and their successors and any designees referred to in paragraph (ii) below are referred to as “Series B Preferred Designees.” Simultaneous with the effectiveness of the Series B Preferred Designees becoming members of the Board of Directors, one of the incumbent members of the Board of Directors shall resign, such that the Board of Directors shall then consist of seven members.
The Preferred Designees shall be given the option to serve on any committee of the Board of Directors, whether now or in the future existing.