Qualified Approval definition
Qualified Approval means an approval which is not given at the date of this Deed but which is to be given subsequently by the Council or a Designated Officer thereof, such approval is not to be unreasonably or unlawfully withheld or delayed.
Examples of Qualified Approval in a sentence
Without the Qualified Approval of the Board of Directors, make, or permit any Subsidiary to make, any change in the nature of its business as carried on at the date hereof.
Amend, alter, repeal or terminate its Charter or the Restructuring Agreement or amend the terms of any Senior Debt, in each case without the Qualified Approval of the Board of Directors.
Without the Qualified Approval of the Board of Directors, create, incur, assume or suffer to exist, or permit any Subsidiary to create, incur, assume or suffer to exist, at any time an aggregate of $100,000 of Indebtedness in excess of the aggregate amount of Indebtedness set forth in the then applicable budget approved by the Board of Directors of the Company.