Preferred Directors Majority definition

Preferred Directors Majority means at least 50% (inclusive) of all Preferred Directors in office.
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Preferred Directors Majority means any three (3) out of five (5) Preferred Directors;
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Preferred Directors Majority means three (3) out of the five (5) Preferred Directors.
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Examples of Preferred Directors Majority in a sentence

  • The maximum number of persons comprising each of the Compensation Committee, the Audit Committee, and the Risk Committee shall initially be three (3), and which number of members shall not be changed unless otherwise approved in writing by the Preferred Directors Majority.

  • The majority of the members of the Board (including the consent of the Preferred Directors Majority) shall appoint the other members of each such committee.

  • At the request of any Preferred Director, the Company shall obtain within ninety (90) days of the date upon receipt of the notice of such Preferred Director a commercially reasonable directors and officers liability insurance policy from financially sound and reputable insurers, the amount of which shall be approved by the Board (including the Preferred Directors Majority).

  • The Preferred Majority shall have the right to challenge any determination by the Board of Directors of fair market value pursuant to this subsection (e) of Article 138, in which case the determination of fair market value shall be made by an independent appraiser selected jointly by the Board of Directors (including the Preferred Directors Majority) and the challenging parties, the cost of such appraisal to be borne equally by the Company and the challenging parties.

  • No vesting shall accelerate without the approval of the Board (including the approval of the Preferred Directors Majority) and subject to Section 4.

  • The audited financial statements referred to in this Section 10.1 shall be prepared in accordance with IFRS by a “Big 4” accounting firm or any other internationally recognized, reputable accounting firm selected by the Board (including affirmative votes of the Preferred Directors Majority) and API.

  • The Board of Directors may at any time appoint or remove an Auditor or Auditors of the Company who shall hold office for a period specified by the Board of Directors, provided that such appointment and/or removal shall be approved in accordance with Article 75 and by the Preferred Directors Majority.

  • The method of valuation of securities subject to investment letter or other restrictions on free marketability shall be adjusted to make an appropriate discount from the market value determined as above in clauses (i), (ii) or (iii) to reflect the fair market value thereof as determined in good faith by the Board of Directors (including the affirmative consents of Preferred Directors Majority), or by a liquidator if one is appointed.


More Definitions of Preferred Directors Majority

Preferred Directors Majority. - shall mean, at any given time, the affirmative vote or written consent of at least (n - 1) of the total number of the then incumbent Preferred Directors pursuant to Article 39.1, where n denotes the total number of such Preferred Directors (for illustration purposes only, if there are four appointed Preferred Directors pursuant to Article 39.1, then any three out of such four Preferred Directors shall constitute the Preferred Directors Majority); provided, however, that if the total number of the then incumbent Preferred Directors decreases to one (1), then the term “Preferred Directors Majority” shall mean the affirmative vote or written consent of the then incumbent Preferred Director.
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Preferred Directors Majority set forth in Section 1.1 of the Prior Agreement shall be deleted in its entirety and replaced by the following:
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Preferred Directors Majority means three (3) out of the four (4) Preferred Directors.
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Related to Preferred Directors Majority

  • Preferred Directors means, collectively, the Series A Directors and the Series B Director.

  • Preferred Director means any director of the Company that the holders of record of the Preferred Stock are entitled to elect pursuant to the Company’s Certificate of Incorporation.

  • Series A Directors means the directors of the Company that have been solely designated by the holders of record of the Series A Preferred Stock pursuant to the Certificate of Incorporation, the Stockholders Agreement or otherwise.

  • Series B Director means any director of the Company that the holders of record of the Series B Preferred Stock are entitled to elect pursuant to the Company’s Certificate of Incorporation.

  • Disinterested Director/Trustee means a Director/Trustee of the Fund who is not an "interested person" of the Fund within the meaning of Section 2(a)(19) of the Act.

  • Super Majority Vote means, the affirmative vote of the holders of Outstanding Interests of all Series representing at least two thirds of the total votes that may be cast by all such Outstanding Interests, voting together as a single class.

  • Majority Vote means a vote made by more than half of the Members who are present at a Meeting and who are entitled to vote and voting at that Meeting upon a resolution put to that Meeting.

  • vote of a majority of the outstanding voting securities" shall mean the vote of the lesser of (a) 67 per centum or more of the shares of the Fund present or represented by proxy at the meeting if the holders of more than 50 per centum of the outstanding shares of the Fund are present or represented by proxy at the meeting, or (b) more than 50 per centum of the outstanding shares of the Fund.

  • Unit Majority means (i) during the Subordination Period, at least a majority of the Outstanding Common Units (excluding Common Units owned by the General Partner and its Affiliates), voting as a class, and at least a majority of the Outstanding Subordinated Units, voting as a class, and (ii) after the end of the Subordination Period, at least a majority of the Outstanding Common Units.

  • Investor Directors or “Investor Director” has the meaning set forth in Section 6.1(a) hereof.

  • special majority means the majority of votes described in §11.2 which is required to pass a special resolution.

  • Disinterested Directors means, with respect to any Affiliate Transaction, one or more members of the Board of Directors of the Company, or one or more members of the Board of Directors of a Parent, having no material direct or indirect financial interest in or with respect to such Affiliate Transaction. A member of any such Board of Directors shall not be deemed to have such a financial interest by reason of such member’s holding Capital Stock of the Company or any Parent or any options, warrants or other rights in respect of such Capital Stock.

  • Disinterested Director/Trustee means a Director/Trustee of the Fund who is not an "interested person" of the Fund within the meaning of Section 2(a)(19) of the Act.

  • Series A Director means any director of the Company that the holders of record of the Series A Preferred Stock are entitled to elect pursuant to the Company’s Certificate of Incorporation.

  • New Directors means any director whose election by the Board or whose nomination for election by the Company's stockholders was approved by a vote of at least two-thirds of the directors then still in office who were Present Directors or New Directors.

  • Investor Majority means [the holders of at least [ ] per cent of Series A Shares from time to time] [Note: amend as appropriate];

  • Company Board of Directors means the board of directors of the Company.

  • Disinterested Director means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

  • Required Majority means a required majority, as defined in Section 57(o) of the Act.8

  • CPF Board means the Central Provident Fund Board, a body corporate established under the Central Provident Fund Act (Cap. 36);

  • Independent Directors means the members of the Board of Directors who are not officers or employees of the Manager.

  • Super Majority has the meaning set forth in paragraph 5(b) of Annex I.

  • The Board of Directors or "Board" means all those persons appointed to perform the duties of directors of the society;

  • Age of majority means the age when the procedural safeguards and other rights afforded to the parent or parents of a student with a disability transfer to the student. In Virginia, the age of majority is 18.

  • Designated Director means a person designated by the RE to ensure overall compliance with the obligations imposed under chapter IV of the PML Act and the Rules and shall include:

  • Majority Shareholder Vote means a vote of “a majority of the outstanding voting securities” (as such term is defined in the 0000 Xxx) of the Trust with each class and series of Shares voting together as a single class, except to the extent otherwise required by the 1940 Act or this Declaration with respect to any one or more classes or series of Shares, in which case the applicable proportion of such classes or series of Shares voting as a separate class or series, as the case may be, also will be required.