Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of three independent directors. At Closing, following the Merger, the Board of Directors of the Company shall consist of five directors, three of whom shall be independent. As of the date of this Agreement, the Audit and Compensation Committees of the Board of Directors of the Company are comprised, and at the Closing will be comprised, of independent directors.
Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of three (3) directors with 2 being “independent”, as defined in the rules promulgated under the 1934 Act.
Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of a three directors with a majority being independent as defined by the NASD. Within 30 days of Closing, the Board of Directors of the Company shall consist of five directors, three of whom shall be independent. As of the date of this Agreement, the Audit and Compensation Committees of the Board of Directors of the Company are comprised, and at the Closing will be comprised, of independent directors. PREFERRED STOCK PURCHASE AGREEMENT BETWEEN WIRELESS AGE COMMUNICATIONS, INC. AND BXXXXX PARTNERS LP PAGE 11 OF 29 ARTICLE V
Independent Board. At the Closing, the board of directors of the Company shall consist of five directors, three of whom shall be independent, as defined under the regulation of the Nasdaq Stock Market, and a majority of the members of the audit and compensation committees of the board of directors of the Company will be comprised of independent directors.
Independent Board. As of the date of this Agreement, the Board of Directors of the Company consists of a minimum of five directors with a majority being independent as defined by the NASD. At the Closing, the Board of Directors of the Company shall consist of Seven directors, four of whom shall be independent. As of the date of this Agreement, the Audit and Compensation Committees of the Board of Directors of the Company are comprised, and at the Closing will be comprised, of independent directors.
Independent Board. Subject to clause 23 of the Administrative Agreement published under Government Notice R.557 of 22 June 2001, the same conditions and criteria apply in respect of appeals from non-parties submitted in terms of the provisions of this Agreement.
Independent Board. Within three (3) months of the Closing Date the Company must have an independent board in place (as defined by the NASDAQ Rules) of at least three English speaking independent directors with public board experience. Additionally, such Audit and Compensation Committees of the Board of Directors of the Company will be comprised of independent directors. Should the Company fail to meet the above requirements in the stated time frame, the Company shall pay to the Investor, pro rata, as liquidated damages and not as a penalty, an amount equal to Two Percent (2.0%) of the Purchase Price per month, payable monthly in cash or shares at the option of the Investor. COMMON STOCK PURCHASE AGREEMENT BETWEEN THE COMPANY AND INVESTORS LISTED IN SCHEDULE A
Independent Board. Within sixty (60) days of the Closing Date, the Board of Directors of the Company shall consist of 5 Directors, a majority of whom will be independent.
Independent Board. Each Investor will use its best efforts to cause the Board at all times during the Standstill Period to be comprised of no more or less than nine directors, six of whom shall be Independent Company Directors, one of whom shall be the Chief Executive Officer of the Company (or such other executive officer of the Company as is designated by a majority of the Board) and two of whom may be directors who are not Independent Company Directors (but, subject to Section 3.1, may be Purchaser Designees).
Independent Board. Maintain at all times a Board of Directors (a) a majority of the members of which are "independent" within the meaning of that term as used in Section 3 of the New York Stock Exchange Listed Company Manual, and (b) none of whom was at any time a director or shareholder of any Debtor or any Subsidiary of a Debtor. For purposes of this Section 5.7.3: (x) Xxxxxx Xxxxxx, current chair of the Board of Directors of Cadiz, shall be deemed independent notwithstanding the foregoing sentence, but (y) no other person who, at the time he or she becomes a director of Borrower or any of its Subsidiaries, is (or becomes) or has been a director or officer or other employee of Cadiz or any of its Affiliates (including Borrower and its Subsidiaries) shall be considered independent, and (z) no person who, after becoming a director of Borrower or any of its Subsidiaries, becomes (i) a director or officer or other employee of Cadiz or any of its Affiliates (other than Borrower and its Subsidiaries) or (ii) an officer or other employee of Borrower or any of its Subsidiaries, shall be considered independent.
