Board Action. Where an action called for under this Agreement is required to be taken by the Board of Directors, such action shall be taken by the vote of not less than a majority of the members then in office and authorized to vote on the matter.
Appears in 25 contracts
Sources: Employment Agreement (Avalonbay Communities Inc), Employment Agreement (Avalonbay Communities Inc), Employment Agreement (Bay Apartment Communities Inc)
Board Action. Where an action called for under this Agreement is required to be taken by the Board of Directors, such action shall be taken by the vote of not less than a majority of the members other than Executive then in office on the Board and authorized to vote on the matter.
Appears in 2 contracts
Sources: Employment Agreement (Avalonbay Communities Inc), Employment Agreement (Avalonbay Communities Inc)
Board Action. Where an action called for under this Agreement is required to be taken by the Board of Directors, such action shall be taken by the vote of not less than a majority of the members then in office and authorized to vote on the matter (or by a vote of not less than a majority of the independent Board members authorized to vote on the matter).
Appears in 1 contract