Promoter Director definition
Examples of Promoter Director in a sentence
The Parties agree that: (x) the Promoters and the Investor shall each be entitled to replace any Promoter Director and the Investor Director, respectively; and (y) the Promoters and the Investor shall jointly be entitled to replace an Independent Director with any other Independent Director that, at such date, is on the Board.
The chairman of the Board shall be a Promoter Director, as determined by the Promoter.
Provided the Promoters may after obtaining Board Investor Consent nominate a person other than the Promoters as a Promoter Director.
The quorum for a Board meeting shall be at least 2 (two) Directors of which there shall always be 1 (one) HCARE Director and 1 (one) Promoter Director, provided that: (a) any 2 (two) Investor Directors may form the necessary quorum for approving any resolution(s) for approving a buy back in accordance with Clause 7.1 or Clause 7.2 above; and (b) any 2 (two) Investor Directors may form the necessary quorum for approving any resolution(s) for approving a buy back in accordance with Clause 7.4 above.
For avoidance of doubt, an Investor Director or Promoter Director who has been appointed / nominated by an Investor or the Promoter pursuant to Article 4.1.1 shall not be removed from the Board except by the Investor or Promoter as the case may be appointing such Director pursuant to this Article 4.1.8.
Notwithstanding the foregoing, the Promoter Director shall not be entitled to claim indemnity under this Clause 4.1.8 for any action, suit, claim or proceeding arising out of or relating to any such act, omission or conduct undertaken by it, or with his consent.
The Chairman of the Shareholders meeting shall be a Promoter Director, or in his absence, appointed by the remaining Shareholders at each meeting.
Notwithstanding anything contained herein or the other Transaction Documents, a meeting of the Board may be held at shorter notice with the written consent (which may be signified by letter or e-mail with receipt acknowledged, as the case may be) of 1 (one) IFC Director (if appointed), 1 (one) HCARE Director (if appointed) and 1 (one) Promoter Director.
A Board Meeting may be held at shorter notice with the written consent of a majority of the Directors (which shall include (if nominated) the CC Investor Director, 1 (one) New Investor Director, 1 (one) Existing Investor Director and 1 (one) Promoter Director).
The Promoter Director and ▇▇▇▇▇▇▇▇ Director shall be entitled to the sitting fees and expenses as payable to other Directors and the right to appoint alternate Directors.