Transitional Board Sample Clauses

The Transitional Board clause establishes a temporary governing body to oversee an organization during a period of change, such as a merger, restructuring, or the initial formation of the entity. This board typically consists of representatives from the merging parties or key stakeholders and is tasked with managing operations, making critical decisions, and ensuring continuity until a permanent board is appointed. By providing structured leadership and decision-making during transitional phases, the clause helps maintain stability and clear governance, preventing disruptions and confusion that could arise from leadership gaps.
Transitional Board. A. Creation of Transitional Board; Term of Existence Until the voters of the New Union District elect the members of the initial Board of Directors as set forth in Article 10, and those members are sworn in and assume their duties, the individuals serving on July 1, 2018 as Chair and Clerk of the board of directors of each Forming District identified in Article 1, including the board of any Forming District that is a union school district on that date, constitute the transitional board of directors for the New Union District (“Transitional Board”); provided, however, that by majority vote the board of a Forming District may designate another board member or members to serve on the Transitional Board instead of the Chair, or the Clerk, or both. B. Initial Meeting of Transitional Board The Superintendent of the supervisory union of which a majority of the Forming Districts are members shall convene the first meeting of the Transitional Board to occur no later than 14 days after the organizational meeting convened pursuant to Article 8. The agenda for this first meeting of the Transitional Board shall include the election by the Transitional Board members of: i. One of their members to serve as Chair of the Transitional Board; and ii. One of their members to serve as Clerk of the Transitional Board. C. Purpose and Authority of Transitional Board During the period of its existence, the Transitional Board shall serve as the New Union District’s school board and shall perform all functions required of, and have all authority granted to: i. The Transitional Board in Paragraph (D) of this Article 9; and ii. The New Union District Board in these Articles of Agreement and otherwise by law. D. Specific Duties of Transitional Board In addition to any responsibilities of the New Union District Board that can, should, or must be performed before the initial members of that Board are elected and assume office, the Transitional Board shall perform the following functions:
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Transitional Board. For the first six months after incorporation, the Company may have a transitional board of any number and composition of directors that are agreed between the Shareholders.
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Transitional Board. 3.1.1 If not already established, as soon as reasonably practicable after the date on which the Merger Control Condition is satisfied or waived by the Investor and RBSG, and in any event within 1 month of such date, RBSG and the Investor shall establish a transitional board (the “Transitional Board”). 3.1.2 The Transitional Board shall be responsible for the management of the Businesses from the date of its establishment until the Newco Board is established in accordance with Clause 4.1 and shall at all times adhere to and comply with the RBS Policies and applicable requirements of the UK Regulators including the FS Rules. 3.1.3 Subject to the need at all times for the Businesses to be conducted subject to, and within the parameters of, the RBS Policies and in compliance with Law and Regulations, and subject to the Reserved Matters, the Transitional Board shall procure in so far as it is able to do so (and the parties shall exercise all rights and powers they have in order to procure) that the Businesses are: (i) carried on as a going concern and with a view to a profit; and (ii) carried on in the ordinary and usual course of trading as carried on prior to the date of this Agreement, save to the extent determined otherwise by the Transitional Board; and (iii) is constituted and carried on as anticipated by the Plans (as they may be amended in accordance with this Agreement), and with a view to delivering the outcomes contemplated by those Plans. 3.1.4 Without prejudice to the generality of Clause 3.1.3, subject to Clause 3.4 and the need at all times for the Businesses to be conducted subject to, and within the parameters of, the RBS Policies and in compliance with Law and Regulations, RBSG and the Investor shall procure, as far as they lawfully can, that, following agreement of the Transitional Board Reserved Matters between the Transitional Board, RBSG and the Investor, pursuant to Clause 3.1.5, no action is taken or resolution passed in relation to the Businesses, in each case in respect of such Transitional Board Reserved Matters without the prior approval of the Transitional Board. For the avoidance of doubt, Transitional Board Reserved Matters shall be decided by a simple majority of the votes and there shall be no requirement for Investor approval if such matters are approved by a majority of Transitional Board members. 3.1.5 As soon as reasonably practicable after the date on which the Merger Control Condition is satisfied or waived by the Investor...
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Transitional Board 
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Related to Transitional Board

  • TRANSITION COMMITTEE A transition committee comprised of the employee representatives and the employer representatives, including the Crown, will be established by January 31, 2016 to address all matters that may arise in the creation of the Trust.

  • Transition Plan In the event of termination by the LHIN pursuant to this section, the LHIN and the HSP will develop a Transition Plan. The HSP agrees that it will take all actions, and provide all information, required by the LHIN to facilitate the transition of the HSP’s clients.

  • Parent Board of Directors The Board of Directors of Parent will take all actions necessary such that two members of Company's Board of Directors reasonably acceptable to Parent, at least one of whom is an independent director of the Company's Board of Directors, shall be appointed to Parent's Board of Directors as of the Effective Time with a term expiring at the next annual meeting of Parent's stockholders.

  • Senior Management and Boards of Directors 1. Neither Party may require that an enterprise of that Party, that is a covered investment, appoint to senior management positions natural persons of any particular nationality. 2. A Party may require that a majority of the board of directors, or any committee thereof, of an enterprise of that Party that is a covered investment, be of a particular nationality, or resident in the territory of the Party, provided that the requirement does not materially impair the ability of the investor to exercise control over its investment.

  • Training Committee The parties to this Agreement may form a Training Committee. The Training Committee will be constituted by equal numbers of Employer nominees and ETU employee representatives and have a charter which clearly states its role and responsibilities. It shall monitor the clauses of this Agreement which relate to training and ensure all employees have equal access to training.