Examples of Appointed Director in a sentence
Any Director,other than the Chief Executive Officer of the Corporation,may be removed for cause by a vote of at least a majority of the members of the Board of Directors excluding the Director who is being removed, provided that the removal of an Authority Appointed Director shall require the approval of a majority of the Authority Appointed Directors.
Except where such designation is made by the appointing authority, the Board shall notify the relevant appointing authority of the terms of service of each Appointed Director, as determined pursuant to Article IV, Section 2.
At the end of an Appointed Director’s term of service, the appointing authority shall either extend such Appointed Director’s term or appoint a new Director, in the appointing authority’s sole discretion; provided that such Appointed Director shall remain on the Board as an “Acting Director” (with all of the voting and other rights of a Director) until such time as the appointing authority reappoints or replaces such director.
Any vacancy among the Appointed Directors shall be filled by the President of CCAP, and the person elected shall have the same qualifications as the Appointed Director he or she replaces.
Subject to Section 16.5(b), if any Appointed Director is removed, resigns or is otherwise unable to serve as a member of the Board of Directors, the General Partner shall, in its individual capacity, appoint an individual to fill the vacancy.