Common use of Vacancies and Newly Created Directorships Clause in Contracts

Vacancies and Newly Created Directorships. If any vacancies shall occur in the Board of Directors, by reason of death, resignation, removal or otherwise, or if the authorized number of Directors shall be increased, the Directors then in office shall continue to act, and such vacancies and newly created directorships may be filled by a majority of the Directors then in office, although less than a quorum. A Director elected to fill a vacancy or a newly created directorship shall hold office until his or her successor has been elected and qualified or until his or her earlier death, resignation or removal. Any such vacancy or newly created directorship may also be filled at any time by vote of the stockholders.

Appears in 3 contracts

Samples: Subordinated Loan and Security Agreement (Specialty Underwriters Alliance, Inc.), Senior Loan and Security Agreement (Specialty Underwriters Alliance, Inc.), Agreement and Plan of Merger (At&t Latin America Corp)

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Vacancies and Newly Created Directorships. If Except as otherwise provided by law, any vacancies shall occur vacancy in the Board that results from an increase in the number of Directors, by reason of directors or the death, resignationdisability, resignation or removal of any Director or otherwisefrom any other cause may be filled by sole remaining Director, or if the authorized number Board then consists of Directors shall be increasedmore than two Directors, the Directors then in office shall continue to act, and such vacancies and newly created directorships may be filled by a majority of the Directors then in office, although less than a quorum. A Director elected to fill a vacancy or a newly created directorship Directorship shall hold office until his or her successor has been elected and qualified or until his or her earlier death, resignation or removal. Any such vacancy or newly created directorship may also be filled at any time by vote of the stockholdersMember.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Servicemaster Co, LLC), Limited Liability Company Agreement

Vacancies and Newly Created Directorships. If any vacancies shall occur in the Board of Directors, by reason of death, resignation, removal or otherwise, or if the authorized number of Directors shall be increased, the Directors then in office shall continue to act, and such vacancies and newly created directorships may be filled by a majority of the Directors then in office, although less than a quorum. A Director elected to fill a vacancy or a newly created directorship shall hold office until his or her successor has been elected and qualified or until his or her earlier death, resignation or removal. Any such vacancy or newly created directorship may also be filled at any time by vote of the stockholders. [Sections 141(b), 223.]

Appears in 1 contract

Samples: Shareholders Agreement (Remington Arms Co Inc/)

Vacancies and Newly Created Directorships. If any vacancies shall occur in the Board of Directors, by reason of death, resignation, removal or otherwise, or if the authorized number of Directors shall be increased, the Directors then in office shall continue to act, and such vacancies and newly created directorships may be filled by a majority of the Directors then in office, although less than a quorum. A Director elected to fill a vacancy or a newly created directorship shall hold office until his or her such Director's successor has been elected and qualified or until his or her such Director's earlier death, resignation or removal. Any such vacancy or newly created directorship may also be filled at any time by vote of the stockholders. [Section 223.]

Appears in 1 contract

Samples: Dynatech Corp

Vacancies and Newly Created Directorships. If any vacancies shall occur in the Board of Directors, by reason of death, resignation, removal or otherwise, or if the authorized number of Directors shall be increased, the Directors then in office shall continue to act, and such vacancies and newly created directorships may be filled by a majority of the Directors then in office, although less than a quorum. A Director elected to fill a vacancy or a newly created directorship shall hold office until his or her successor has been elected and qualified or until his or her earlier death, resignation or removal. Any such vacancy or newly created directorship may also be filled at any time by vote of the stockholders. [Sections 141 (b), 223.]

Appears in 1 contract

Samples: Shareholders Agreement (Remington Arms Co Inc/)

Vacancies and Newly Created Directorships. If any ----------------------------------------- vacancies shall occur in the Board of Directors, by reason of death, resignation, removal or otherwise, or if the authorized number of Directors shall be increased, the Directors then in office shall continue to act, and such vacancies and newly created directorships may be filled by a majority of the Directors then in office, although less than a quorum. A Director elected to fill a vacancy or a newly created directorship shall hold office until his or her successor has been elected and qualified or until his or her earlier death, resignation or removal. Any such vacancy or newly created directorship may also be filled at it any time by vote of the stockholdersstockholders entitled to elect the Director with respect to whom a vacancy exists. [Section 223.]

Appears in 1 contract

Samples: Agreement and Plan of Contribution and Merger (Excalibur Technologies Corp)

Vacancies and Newly Created Directorships. If any vacancies --------------------------- shall occur in the Board of Directors, by reason of death, resignation, removal or otherwise, or if the authorized number of Directors shall be increased, the Directors then in office shall continue to act, and such vacancies and newly created directorships may be filled by a majority of the Directors then in office, although less than a quorum. A Director elected to fill a vacancy or a newly created directorship shall hold office until his or her successor has been elected and qualified or until his or her earlier death, resignation or removal. Any such vacancy or newly created directorship may also be filled at it any time by vote of the stockholdersstockholders entitled to elect the Director with respect to whom a vacancy exists. [Section 223.]

Appears in 1 contract

Samples: Agreement and Plan of Contribution and Merger (Excalibur Technologies Corp)

Vacancies and Newly Created Directorships. If any vacancies shall occur in the Board of Directors, by reason of death, resignation, removal or otherwise, or if the authorized number of Directors shall be increased, the Directors then in office office, if any, shall continue to act, and such vacancies and newly created directorships may be filled by a majority vote of the Directors then in office, although less than a quorumstockholders. A Director elected to fill a vacancy or a newly created directorship shall hold office until his or her successor has been elected and qualified or until his or her earlier death, resignation or removal. Any such vacancy or newly created directorship may also be filled at any time by vote of the stockholders.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Alliance Laundry Systems LLC)

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Vacancies and Newly Created Directorships. If any vacancies shall occur in the Board of Directors, by reason of death, resignation, removal or otherwise, or if the authorized number of Directors shall be increased, the Directors then in office shall continue to act, and such vacancies and newly created directorships may be filled by a majority of the Directors then in office, although less than a quorum. A Director elected to fill a vacancy or a newly created directorship shall hold office until his or her successor has been elected and qualified or until his or her earlier death, resignation or removal. Any such vacancy or newly created directorship may also be filled at any time by vote of the stockholders.

Appears in 1 contract

Samples: Shareholders' Agreement (Nextel Partners Inc)

Vacancies and Newly Created Directorships. If any vacancies shall occur in the Board of Directors, by reason of death, resignation, removal or otherwise, or if the authorized number of Directors shall be increased, the Directors then in office shall continue to act, and such vacancies and newly created directorships Directorships may be filled by a majority of the Directors then in office, although less than a quorum. A Director elected to fill a vacancy or a newly created directorship Directorship shall hold office until his or her successor has been elected and qualified or until his or her earlier death, resignation or removal. Any such vacancy or newly created directorship Directorship may also be filled at any time by vote of the stockholders. [Section 223.]

Appears in 1 contract

Samples: Lexmark International Inc

Vacancies and Newly Created Directorships. If any vacancies shall occur in the Board of Directors, by reason of death, resignation, removal or otherwise, or if the authorized number of Directors shall be increased, the Directors then in office shall continue to act, and such vacancies and newly created directorships may be filled by a majority of the Directors then in office, although less than a quorum. A Director elected to fill a vacancy or a newly created directorship shall hold office until his or her successor has been elected and qualified or until his or her earlier death, resignation or removal. Any such vacancy or newly created directorship may also be filled at any time by vote of the stockholders. [Section 223.]

Appears in 1 contract

Samples: Stockholders Agreement (NCP SBG Lp)

Vacancies and Newly Created Directorships. If the office of any vacancies shall occur in the Board of Directors, by director becomes vacant for any reason of death, resignation, removal or otherwise, or if the authorized number of Directors directors shall at any time be increased, the Board of Directors then in office shall continue to act, and may fill such vacancies and vacancy or newly created directorships may be filled directorship pursuant to a resolution duly adopted by a majority of the Directors directors then in office, although even if less than a quorum. A Director elected to fill a vacancy or a newly created directorship , and any director so chosen shall hold office until the next annual meeting of stockholders and until his or her successor has been is duly elected and qualified or until his or her earlier resignation, removal or death, resignation or removal. Any such The stockholders may at any duly held meeting of stockholders elect a director to fill a vacancy or newly created directorship may also be not filled at any time by vote of the stockholdersdirectors.

Appears in 1 contract

Samples: Agreement of Merger (Us Search Corp Com)

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