Quorum of the Board. The greater of (a) a majority of the directors at any time in office and (b) one-third of the number of directors established by the Board of Directors pursuant to Section 2.2 of the Company’s By-laws shall constitute a quorum of the Board; provided, that so long as an Ares Director, a PEP Director or an Xxxxx Director serves on the Board, the presence of an Ares Director, a PEP Director and an Xxxxx Director, as the case may be, shall also be required to constitute a quorum of the Board; provided, however, that, if an Ares Director, a PEP Director or an Xxxxx Director is not present at any two consecutive meetings of the Board, then the presence of an Ares Director, a PEP Director or an Xxxxx Director, as the case may be, shall not be required to constitute a quorum of the Board for the following meeting of the Board. If at any meeting of the Board there shall be less than such a quorum, a majority of the directors present may adjourn the meeting from time to time without further notice other than announcement at the meeting, until a quorum shall be present.
Appears in 4 contracts
Samples: Stockholders Agreement (Ares Corporate Opportunities Fund II, L.P.), Stockholders Agreement (Stream Global Services, Inc.), Stockholders Agreement (Ares Corporate Opportunities Fund II, L.P.)
