Examples of Material Action in a sentence
The Directors may be paid their expenses, if any, of attendance at meetings of the Board required to take action with respect to a Material Action, which may be a fixed sum for attendance at each meeting of the Board or a stated salary as Director.
Members of special or standing committees may be allowed like compensation for attending committee meetings required to take action with respect to a Material Action.
Failure to publish, mail or receive such notice or any defect therein or in the publication or mailing thereof shall not affect the validity of the Material Action.
Neither the Investment Adviser nor, to the Investment Adviser’s knowledge, any of its officers, partners, members, managers, directors, employees, or affiliates in each case, who will be responsible for carrying out the terms of this Agreement in connection with investment management responsibilities, has been convicted or found guilty in connection with any Material Action in the last ten (10) years.
If Borrower is a corporation, the board of directors of such Person may not take any action requiring the unanimous affirmative vote of 100% of the members of the board of directors unless all of the directors, including the Independent Directors, shall have participated in such vote if such vote relates to a Material Action (as such term is defined in the Borrower’s organizational documents).