New Board definition

New Board means New Holdco’s initial board of directors.

New Board means the initial board of directors of Reorganized Parent to be put in place on and as of the Effective Date in accordance with the Restructuring Support Agreement.

New Board means, with respect to each Reorganized Debtor and New Chemtura, the initial board of directors of such Entity appointed as of the Effective Date, the members of which shall be determined in accordance with Section 5.18.

Examples of New Board in a sentence

• On the Effective Date, the officers of the Reorganized Debtors shall be substantially the same and their employment shall be subject to the ordinary rights and powers of the New Board to remove or replace them in accordance with the Reorganized Debtors’ organizational documents and any applicable employment agreements that are assumed under the Plan.

• It is expected that the Reorganized Debtors will require that each of the members of the New Board and each member of the Reorganized Debtors’ senior management team will be a United States citizen for purposes of compliance with applicable federal laws relating to air carriers and government contractors.

• Process and Criteria for New Board Appointment and Re-election In proposing candidates for appointment or re-election as Directors, the NGC considers several factors, including (a) the composition, the diversity and the need for progressive renewal of the Board, (b) each candidate’s competencies, commitment, contribution and performance (including attendance, preparedness, participation and candour) and (c) potential conflicts of interest.

• As of the Effective Date, the terms of the current members of the board of directors of PHI shall expire, and, without further order of the Bankruptcy Court, the New Board shall be appointed and shall initially comprise seven (7) members as follows: (a) the Chief Executive Officer of Reorganized PHI (as named by the New Board); (b) two (2) members designated by Mr. Al Gonsoulin; and (c) four (4) members designated by the balance of the shareholders pursuant to Louisiana law.

• Members of the New Board will be disclosed in the Plan Supplement or at the Confirmation Hearing.

More Definitions of New Board

New Board means the board of directors or the board of managers of Reorganized Neiman.

New Board means the initial board of directors, members, or managers, as applicable, of the Reorganized Dream II.

New Board means the initial board of directors of the Reorganized Debtor, to be appointed as of the Effective Date.

New Board means the board of directors of Reorganized Oasis. The identities of directors on the New Board shall be set forth in the Plan Supplement.

New Board means the board of directors of the Reorganized Debtors appointed in accordance with the terms of the Governance Term Sheet. The identities of directors on the New Board shall be set forth in the Plan Supplement.

New Board means the initial Board of Directors or Board of Managers, as the case may be, for the Reorganized Debtors on the Effective Date, as the same may be constituted from time to time (subject to the New Organizational Documents).

New Board means the board of directors or the board of managers, as applicable, as of the Effective Date of Reorganized FTS. The identities of directors on the New Board shall be set forth in the Plan Supplement, to the extent known at the time of filing of the Plan Supplement.