Examples of Independent Person in a sentence
No resignation or removal of an Independent Person shall be effective until a successor Independent Person has been elected to replace such Independent Person.
Following the occurrence of a vacancy on the Board of Directors that results in the absence of a majority of Independent Persons on the Board of Directors, and notwithstanding the occurrence of such vacancy, the Board of Directors shall take all actions necessary to fill such vacancy with an Independent Person nominated by the governance and directors nominating committee of the Board of Directors and approved by the Board of Directors.
All of the common quotas of the Borrower will be owned by an Independent Person.
The Independent Person will send its written determination, at which point the determination of the Independent Person will be binding on Purchaser and the Sellers, absent fraud or manifest error.
At all times, at least two (2) members of the Board of Managers of the Issuer comply with the definition of Independent Person.