Outside Director. (a) Without the authorization and direction of its Outside Director (as defined below), no Borrower shall: institute proceedings for itself to be adjudicated bankrupt or insolvent; consent to the institution of a bankruptcy or insolvency proceeding against it; file a petition seeking, or consent to, reorganization or relief under any applicable federal or state law relating to bankruptcy; consent to the appointment of a receiver, liquidator, assignee, trustee, sequestration (or other similar official) for itself or a substantial part of its property; make any assignment for the benefit of creditors; or admit in writing its inability to pay its debts generally as they become due; or admit in writing its ability to pay its debts generally as they become due.
Outside Director. “Outside Director” means a “non-employee director” of EnLink Manager, as defined in Rule 16b-3.
Outside Director. “Outside Director” shall mean a Director who is not an employee of the Participating Company Group.
Outside Director. Any Director or Officer or any employee of the Company who is or was acting or will act in the capacity as a Director or Officer of an Outside Company at the Company´s specific direction and request.
Outside Director. With respect to the one (1) remaining member of the Company’s Board of Directors that the Restated Certificate provides is to be elected by the holders of Common Stock and Preferred Stock, voting together as a single class and on an as-converted basis, each Investor and each Common Holder hereby agrees to vote all of such Investor’s or Common Holder’s shares of Capital Stock, now owned or hereafter acquired, in favor of the designee nominated by a majority of the Common Director, the CEO Director, the Series A Directors, the Series B Director and the Series E Director, who shall initially be Xxx Xxxxx (the “Outside Director”).
Outside Director. (i) each of Carbiz USA, Carbiz Auto, Carbiz LLC, Carbiz AQ shall have modified its charter documents to provide for the election of an Outside Director as required by Section 6.8 hereof and (ii) Houston Auto shall have elected an Outside Director as required by Section 6.8 hereof and such Outsider Director shall have accepted such election.
Outside Director. Xx. Xxxx and the Company agree that Xx. Xxxx shall remain an outside director of the Company until the earliest to occur of (i) the expiration of Xx. Xxxx’x current term as a director; (ii) Xx. Xxxx’x resignation or death; or (iii) the removal of Xx. Xxxx as a director in accordance with applicable law.
Outside Director. Section 2.1 The covenant set forth in Section 4.22 of the Indenture shall be deleted and replaced with the following:
Outside Director. The Company shall, within 120 days following the Closing Date, nominate and take all reasonable actions to cause to be elected a disinterested outside Director to the Board of Directors of the Company who is not a Director on the Issue Date and who has experience in the telecommunications industry (an "Additional Outside Director"). At all times during the period commencing 120 days following the Closing Date and ending on Maturity, in the event that an Additional Outside Director (or any successor Additional Outside Director) is no longer serving as a Director, the Company shall, as promptly as practicable, nominate and take all reasonable actions to cause to be elected, a successor Additional Outside Director.
Outside Director. The holders of Series A Preferred Stock and the holders of Common Stock shall vote together as a single class to elect the independent outside Board representative.
