Qualified Board Approval definition
Qualified Board Approval means resolutions duly approved by (i) at least majority of the Board of Directors and (ii) at least a majority of the Preferred Directors.
Qualified Board Approval shall have the meaning set forth in the Certificate of Incorporation.
Qualified Board Approval means the approval or consent of the Board of Directors, including, (i) a Series E Director (as defined in the Investor Rights Agreement (as defined below)) if such a director is still in office and (ii) a Series F Director (as defined in the Investor Rights Agreement) unless (x) such a director is not then still in office and (y) all Series F Director seats still subsisting under the terms of the Investor Rights Agreement have remained vacant for at least ten (10) days.
Examples of Qualified Board Approval in a sentence
The Company has, and for so long as one or more Preferred Directors serve on the Board of Directors, shall maintain, from financially sound and reputable insurers, Directors and Officers liability insurance in an amount not less than $3,000,000, unless otherwise approved by the Board of Directors, including the Qualified Board Approval.
Unless otherwise determined by the vote of a majority of the directors then in office, including the Qualified Board Approval, the Board of Directors shall meet at least quarterly in accordance with an agreed-upon schedule.
Any option grants shall require approval of the Board of Directors, including the Qualified Board Approval.