NUMBER, TENURE AND RESIGNATION. At any regular meeting or at any special meeting called for that purpose, a majority of the entire Board of Directors may establish, increase or decrease the number of directors, provided that the number thereof shall never be less than the minimum number required by the MGCL, nor more than 15, and further provided that the tenure of office of a director shall not be affected by any decrease in the number of directors. Any director of the Corporation may resign at any time by delivering his or her resignation to the Board of Directors, the chairman of the Board of Directors or the secretary. Any resignation shall take effect immediately upon its receipt or at such later time specified in the resignation. The acceptance of a resignation shall not be necessary to make it effective unless otherwise stated in the resignation.
NUMBER, TENURE AND RESIGNATION. The authorized number of directors of the Corporation shall be not less than two (2) nor more than seven (7) (of which the holders of the Series A Preferred Stock of the Corporation shall be entitled to elect up to a number of directors that constitutes less than half of the total directors, but such number shall not be more than two (2) during such time that any shares of the Series A Preferred Stock are outstanding prior to a Triggering Event), and such number may be changed from time to time within such specified limit by a duly adopted resolution of the Board of Directors; provided, however, that no decrease in the number of directors shall have the effect of shortening the term of any incumbent director (unless such decrease results in the holders of the Series A Preferred Stock having elected half or more of the directors of the Corporation in which case the term of one or more of the directors elected by the holders of the Series A Preferred Stock shall be immediately terminated in order to bring the number of directors of the Corporation elected by the holders of the Series A Preferred Stock to less than half of the total directors of the Corporation). The directors of the Corporation shall be elected by a plurality vote of the shares of the Corporation's stock represented in person or by proxy at the annual meeting of the stockholders and entitled to vote on the election of directors of the Corporation. Each director shall hold office until the last to occur of the next annual meeting of stockholders or until his successor shall have been elected and qualified, or until his earlier written resignation or removal in the manner herein provided. A director may resign at any time by written notice to the Board of Directors, its Chairman, the President or the Secretary. The resignation is effective on the date it bears, or its designated effective date. For purposes of these Bylaws, "Triggering Event" means, at any time (from and after April 13, 2002), the earliest to occur of the following:
NUMBER, TENURE AND RESIGNATION. The authorized number of directors of the Corporation shall be not less than two (2) nor more than seven (7) (of which the holders of the Preferred Stock of the Corporation shall be entitled to elect (a) two (2) during such time that any shares of the Preferred Stock are outstanding prior to a Triggering Event or (b) four (4) during such time that any shares of the Preferred Stock of the Corporation are outstanding from and after a Triggering Event), and such number may be changed from time to time within such specified limit by a duly adopted resolution of the Board of Directors; provided, however, that no decrease in the number of directors shall have the effect of shortening the term of any incumbent director. The directors of the Corporation shall be elected by a plurality vote of the shares of the Corporation's stock represented in person or by proxy at the annual meeting of the stockholders and entitled to vote on the election of directors of the Corporation. Each director shall hold office until the last to occur of the next annual meeting of stockholders or until his successor shall have been elected and qualified, or until his earlier written resignation or removal in the manner hereinafter provided. A director may resign at any time by written notice to the Board, its Chairman, the President or the Secretary. The resignation is effective on the date it bears, or its designated effective date. For purposes of these Bylaws, "Triggering Event" means, at any time (from and after January 1, 2002), the earliest to occur of the following:
