Disinterested Quorum definition
Examples of Disinterested Quorum in a sentence
No indemnification shall be required to be paid by the Corporation pursuant to Section 9.02 of this Article IX if, within such sixty (60) day period, (i) a Disinterested Quorum, by a majority vote thereof, determines that the Director or Officer or Covered Person requesting indemnification engaged in misconduct constituting a Breach of Duty or (ii) a Disinterested Quorum cannot be obtained.
Moreover, the unused resources do not only means energy waste, but it also results in increasing the purchase costs to customers (QIU; SHEN; CHEN, 2015).
In the event a Disinterested Quorum makes such a determination, the decision of the Disinterested Quorum shall be final, and the Director or Officer shall have no right to appeal.
Such independent determination shall be made, at the option of Indemnitee, by: (i) a panel of three arbitrators as set forth below in Section 6(f); (ii) an independent legal counsel mutually selected by Indemnitee and a Disinterested Quorum (or by the Board if a Disinterested Quorum cannot be obtained) by a majority vote thereof; or (iii) a court in accordance with Section 7.
If a panel of arbitrators is to be employed hereunder, one of such arbitrators shall be selected by a Disinterested Quorum (or by the Board if a Disinterested Quorum is not obtainable) by a majority vote thereof, the second by the Executive seeking indemnification and the third by the two previously selected arbitrators.
Most highway agencies have depended on their state or local statutes for using ATCs. The key to making ATCs work is confidentiality, objectivity, unbiased evaluation, fair- ness to proposers, and mutual trust.
Unnecessary or sliding with intent to harm the player covering the base may result in expulsion from the game.Switching/changing defensive positions once a half-inning begins is not permitted.
Design, supply and installation of a hydropower scheme with31.5 MW capacity and select associated infrastructure.
If indemnification of the requested amount of Liabilities is paid by the Corporation, then it shall be conclusively presumed for all purposes that a Disinterested Quorum has affirmatively determined that the Director or Officer did not engage in conduct constituting a Breach of Duty.