Change in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose election by the Board or 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 directors on the date hereof or whose election for nomination for election was previously so approved (collectively, the “Continuing Directors”), cease for any reason to constitute at least a majority of the members of the Board;
Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 2(b)(i), 2(b)(iii) or 2(b)(iv)) whose election by the Board or 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 either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;
Change in Board of Directors. A change in the composition of the Board of Directors of the Corporation such that the individuals who, as of the date hereof, constitute the Board of Directors of the Corporation (such Board of Directors shall be hereinafter referred to as the "Incumbent Board") cease for any reason to constitute at least a majority of the Board of Directors of the Corporation; provided, however, for purposes of this clause (ii), any individual who becomes a member of the Board of Directors of the Corporation subsequent to the date hereof whose election, or nomination for election by the Corporation's shareholders, was approved by a vote of at least a majority of those individuals who are members of the Board of Directors of the Corporation and who were also members of the Incumbent Board (or deemed to be such pursuant to this provision) shall be considered as though such individual were a member of the Incumbent Board; but, provided, further, that any such individual whose initial assumption of office occurs as a result of an actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board of Directors of the Corporation shall not be so considered as a member of the Incumbent Board; or
Change in Board of Directors. The Continuing Directors cease for any reason to constitute at least a majority of the members of the Board; or
Change in Board of Directors. The date when Continuing Directors cease to be a majority of the Directors then in office, it being understood that it shall not be deemed a Change in Control as long as the majority of the Directors were nominated by the Continuing Directors;
Change in Board of Directors. Members of the Incumbent Board cease to constitute at least a majority of the members of the Board;
Change in Board of Directors. The date when Continuing Directors cease to be a majority of the Directors then in office;
Change in Board of Directors. During any period of twelve (12) consecutive calendar months, Continuing Directors shall cease to constitute a majority of the Board of Directors of Borrower;
Change in Board of Directors. Individuals who were either (A) directors of the Company on the later of the date hereof or the date of an IPO, or (B) appointed or nominated by the directors who were directors of the Company on the date hereof or on the date of an IPO or (C) appointed or nominated by directors referred to in clause (B) above, in each case other than any individual (x) whose initial nomination or appointment occurred as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more directors on the Board of Directors of the Company (other than any such solicitation made by the Board of Directors of the Company), or (y) designated by a Person that has entered into an agreement with the Company to effect a transaction described in clause (i), (iii), (iv) or (v) of this Section 1(b) cease for any reason to constitute at least a majority of the members of the Board of Directors of the Company;
Change in Board of Directors. The failure to maintain Xxxxxxx Xxxxx or his designee as a member of the Board of Directors of Borrower.