Local Governing Board Sample Clauses

Local Governing Board. (a) For a period of ten (10) years following the Closing Date, Seller shall have the right to nominate one (1) voting member to Purchaser’s local governing board with responsibility over the Hospital (“Governing Board”) and the Governing Board shall act upon such nomination in accordance with its bylaws and governance policies (“Seller Designated Director”). Seller’s Designated Director shall be subject to the same removal rights as any member of the Governing Board. If, during the ten (10) years following the Closing Date, a Seller Designated Director is removed, Seller shall have the right to nominate his or her replacement subject to Governing Board approval in accordance with its bylaws and governance policies and this Section 11.1.
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Local Governing Board. Immediately after the Effective Time, Purchaser shall form a local governing board at the Hospital in accordance with the terms of this Section 5.12. Such local governing board shall be an advisory committee of the board of directors of Purchaser comprised of medical staff members, community leaders and the Hospital's Chief Executive Officer. The local governing board shall be subject to the authority of Purchaser's board of directors and the terms of Purchaser's Certificate of Incorporation, Bylaws and other organizational documents.
Sample 1
Local Governing Board. (a) As soon as reasonably practicable after the Effective Time, Purchaser shall form a local governing board at each of the Hospitals (other than the Three Rivers Hospitals) in accordance with the terms of this Section 5.14, and Purchaser shall cause TRH to continue the existence of TRH’s current local governing board(s) for the Three Rivers Hospitals in accordance with the terms of this Section 5.14; provided, however, the terms of this Section 5.14 as applicable to TRH shall be subject to Section 14.4 of the Stock Purchase Agreement (for so long as the terms of such Section 14.4 remain in effect). Such local governing board shall be an advisory committee of the board of directors of Purchaser (and TRH, as applicable) comprised of medical staff members, community leaders and each Hospital’s Chief Executive Officer. The local governing board shall be subject to the authority of Purchaser’s (and TRH’s, as applicable) board of directors and the terms of Purchaser’s (and TRH’s, as applicable) Articles of Incorporation, Bylaws and other organizational documents. The individuals on the local governing board will be appointed solely by Purchaser and should (i) represent the Hospital in the community and represent the views of the community to the local governing board in its deliberations, (ii) participate in Purchaser’s and TRH’s community outreach programs and (iii) consult with respect to the Hospital’s charity care policies and practices.
Sample 1

Related to Local Governing Board

  • Governing Board 1. The Centre shall be guided and overseen by a Governing Board renewed every 3 years and include:

  • Governing Body Contractor shall implement and maintain policies that specify the responsibilities of the governing body including at a minimum the following:

  • CHAIRMAN AND VICE-CHAIRMAN OF THE GOVERNORS 83. The Governors shall each school year, at their first meeting in that year, elect a chairman and a vice-chairman from among their number. A Governor who is employed by the Academy Trust shall not be eligible for election as chairman or vice-chairman.

  • Board of Directors; Officers The Board of Directors and officers of Sub immediately prior to the Effective Time shall be the Board of Directors and officers, respectively, of the Surviving Corporation, until the earlier of their respective resignations or the time that their respective successors are duly elected or appointed and qualified.

  • Corporate Governance Matters (a) At the Closing, the Company shall deliver to Parent evidence reasonably satisfactory to Parent of the resignation of the directors of the Company and of any Subsidiary requested by Parent, effective at the Effective Time.

  • Corporate Governance Ultimus shall provide the following services to the Trust and its Funds:

  • Board of Trustees 2.1.1 The Board of Trustees will be comprised of 9 voting members that include 5 employee representatives and 4 employer representatives. The Board of Trustees will include among its members two independent experts, one representing the employer representatives and one representing the employee representatives. The employee representatives will be responsible for the appointment and termination of the employee Trustees, and the employer representatives will be responsible for the appointment and termination of the employer Trustees.

  • The Board of Trustees of the Fund shall promptly notify the Insurer in writing of its determination of the existence of an irreconcilable material conflict and its implications.

  • School Board Any reference to School Board or District in this Agreement shall mean the District and/or its designated officials.

  • Board of Directors The Board of Directors of the Company is comprised of the persons set forth under the heading of the Pricing Prospectus and the Prospectus captioned “Management.” The qualifications of the persons serving as board members and the overall composition of the board comply with the Exchange Act, the Exchange Act Regulations, the Xxxxxxxx-Xxxxx Act of 2002 and the rules promulgated thereunder (the “Xxxxxxxx-Xxxxx Act”) applicable to the Company and the listing rules of the Exchange. At least one member of the Audit Committee of the Board of Directors of the Company qualifies as an “audit committee financial expert,” as such term is defined under Regulation S-K and the listing rules of the Exchange. In addition, at least a majority of the persons serving on the Board of Directors qualify as “independent,” as defined under the listing rules of the Exchange.

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