Composition Requirements Sample Clauses
Composition Requirements. At all times the Board shall consist of:
(i) one (1) Director who is the CEO of the Company, who shall be considered an Industry Director; and
(ii) a sufficient number of (A) Non-Industry Directors (including Independent Directors), (B) Industry Directors (including Investor Directors) and (C) Member Representative Directors (which shall not include Investor Directors) to meet the following composition requirements:
(A) the number of Non-Industry Directors shall equal or exceed the sum of the number of Industry Directors (including Investor Directors) and Member Representative Directors (which shall not include Investor Directors) elected pursuant to Section 7.4;
(B) at least two (2) of the Non-Industry Directors shall also qualify as Independent Directors;
(C) at least one of the Non-Industry Directors shall be representative of issuers and investors and not associated with an Exchange Member, a broker, or a dealer; and
(D) the number of Member Representative Directors (which shall not include Investor Directors) shall be at least twenty percent (20%) of the Board.
Composition Requirements. (a) The assets in a Certificate Owner’s Account must be invested at all times in Eligible Assets in order to be covered by the Certificate. We have divided the Eligible Assets into asset class categories as follows: Core Equity – Funds that invest substantially in large-cap equity investments.
Composition Requirements. The following are the style, format, composition codes and rules applicable to the composition of the 2021 and 2023 General Statutes electronic pages and the 2022 and 2024 Supplement electronic pages.
A. RE-PROPORTIONING OF DATA OR TEXT: All data or text supplied by the LCO to the Contractor in the form of Word files must be re-proportioned so as to meet the page specifications described in this Contract.
Composition Requirements. Covered Assets must be invested at all times in accordance with the Composition Requirements. Failure to comply with the Composition Requirements may result in termination of the Certificate. Covered Assets must at all times be allocated either to :
(a) Eligible Funds in accordance with applicable Composition Requirements as described in Section 4.2; or
(b) An Eligible Strategy as described in Section 4.3. We may, in Our sole discretion, change Composition Requirements at any time. For example, We may add, modify, replace or delete Eligible Assets, Asset Class Categories, Asset Category Caps or Fee Factor ranges. In addition, We may reassign one or more Eligible Funds to different Asset Class Categories or change their Fund Factors. The change in one or more Eligible Funds’ Asset Class Categories or Fund Factors could cause the Covered Asset Pool to exceed an Asset Category Cap or highest Fee Factor range. If We change the Composition Requirements the Certificate Owner will be provided with written notice at least [thirty (30)] days before the change. If We notify a Certificate Owner that Composition Requirements have changed, the Certificate Owner will have [thirty (30)] days from the date of the notice to reallocate the Covered Asset Pool (if necessary). If the Certificate Owner fails to reallocate to the then prevailing Composition Requirements within the Compliance Deadline, the Certificate will terminate and no benefits will be paid. Except for circumstances provided in the immediately preceding paragraph or as outlined in Section 4.3, if at any time, the composition of the Covered Asset Pool does not meet Our then prevailing Composition Requirements, We will send notice of non-compliance and the Certificate Owner will have [ seven (7)] business days following the date of notice to reallocate to the then prevailing Composition Requirements. If the Certificate Owner fails to reallocate to the then prevailing Composition Requirements within the Compliance Deadline, the Certificate will terminate and no benefits will be paid. We have no duty or obligation to notify or advise any Certificate Owner as to an optimal or more cost efficient manner of managing their Covered Asset Pool. We are not responsible for investment losses or lost opportunities in any way associated with compliance with Composition Requirements. There may be tax and Certificate Fee consequences associated with any reallocations made to the Account.