Qualified Board Members definition

Qualified Board Members means the Board Members of the Company who are not "interested persons," as that term is defined in the 1940 Act, of the Company and have no direct or indirect financial interest in the operation of the Service Plans, or in any agreements related to the Service Plan.
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Qualified Board Members has the meaning set forth in Section 10(d).
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Examples of Qualified Board Members in a sentence

  • This Plan may be terminated at any time without penalty with respect to the Class by vote of a majority of the Qualified Board Members or by vote of the majority of the outstanding voting securities of the Class.

  • All material amendments to this Plan must in any event be approved by a vote of a majority of the Board, and of the Qualified Board Members, cast in person at a meeting called for such purpose.

  • The Plan may be terminated at any time with respect to a Class of a Fund (i) by the Fund without the payment of any penalty, by the vote of a majority of the outstanding voting securities of such Class of such Fund or (ii) by a majority vote of the Qualified Board Members.

  • This Plan shall continue in effect indefinitely, provided that such continuance is approved at least annually by a vote of a majority of the Board, and of the Qualified Board Members, cast in person at a meeting called for such purpose or by vote of at least a majority of the outstanding voting securities of the Class.

  • The Plan will continue in effect with respect to each Class until June 30, 2007 and thereafter for successive twelve-month periods with respect to each Class; provided, however, that such continuance is specifically approved at least annually by the Board members of the Trust and by a majority of the Qualified Board Members in accordance with Section 5.

  • The Plan will continue in effect with respect to each Class until December 1, 2006 and thereafter for successive twelve-month periods with respect to each Class; provided, however, that such continuance is specifically approved at least annually by the Board members of the Company and by a majority of the Qualified Board Members in accordance with Section 5.

  • The Plan may be terminated at any time with respect to a Class of a Fund by the Fund without the payment of any penalty (i) by the vote of a majority of the outstanding voting securities of such Class of such Fund or (ii) by a majority vote of the Qualified Board Members.

  • This Agreement may be terminated at any time, without payment of any penalty, by vote of a majority of the Qualified Board Members or by vote of a majority of the outstanding voting securities of the Company, on not more than 60 days' written notice to any other party to this Agreement.

  • As used in this Agreement, "Qualified Board Members" means the Board Members of the Company who are not "interested persons," as that term is defined in the 1940 Act, of the Company and have no direct or indirect financial interest in the operation of the Service Plans, or in any agreements related to the Service Plan.

  • The Plan will continue in effect with respect to each Class until December 1, 2006 and thereafter for successive twelve- month periods with respect to each Class; provided, however, that such continuance is specifically approved at least annually by the Board members of the Company and by a majority of the Qualified Board Members in accordance with Section 5.

Related to Qualified Board Members

  • Board Members means the Directors or Trustees of the governing body of the Fund, as the case may be.

  • Independent Board Member means a trustee of the Fund who is neither an “interested person” of the Fund as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended, nor a party to the Proceeding with respect to which indemnification or advances are sought.

  • Advisory Board Member means a member of an “Advisory Board” as defined in Section 2(a)(1) of the 1940 Act.

  • Disinterested Board Members means those members of the Board of a Fund that are not deemed to be "interested persons" of the Fund, as defined by the Act.

  • Board Member means a member of the Board;

  • Independent Directors means the members of the Board of Directors who are not officers or employees of the Manager.

  • Parent Board means the board of directors of Parent.

  • Parent Directors means the Directors elected or appointed pursuant to Articles 53 – 56 inclusive;

  • Independent Board Committee means the independent board committee of the Company

  • Subsidiary Board means the board of trustees of a subsidiary corporation.

  • MUSL Board means the governing body of the MUSL, which is comprised of the chief executive officer of each Party Lottery.

  • Member board means a state agency in a member state that acts in the sovereign interests of the state by protecting the public through licensure, regulation, and education of physicians as directed by the state government.

  • Advisory Board means the Long-Term Care Facility Advisory Board;

  • School board means the governing board of directors of the local school district.

  • New Directors means any director whose election by the Board or whose nomination for election by the Company's stockholders was approved by a vote of at least two-thirds of the directors then still in office who were Present Directors or New Directors.

  • Full Board means the authorized number of voting members of the Board of Education.

  • Supervisory Board means the supervisory board of the Company.

  • Committee Members means persons formally appointed by the Board to sit on or to chair specific committees.

  • Majority Participants means the Holder(s) of more than 50% of the Outstanding VMTP Shares.

  • Nomination Committee means the nomination committee of the Board established in accordance with Article 114;

  • shadow director means, in relation to a company, any person in accordance with whose directions or instructions the directors of the company are accustomed to act, but the person is not deemed to be a shadow director by reason only that the directors act on advice given by him in a professional capacity; and

  • Independent Fund Director means an independent director of an investment company advised by Invesco.

  • Company Board of Directors means the board of directors of the Company.

  • Continuing Directors means, as of any date of determination, any member of the Board of Directors of the Company who (1) was a member of such Board of Directors on the date of the issuance of the Securities; or (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director).

  • Nominated Company means a company selected by the Lenders’ Representative and proposed to the Authority for substituting the Concessionaire in accordance with the provisions of the Substitution Agreement;

  • Eligible Directors means, with respect to a Regulated Fund and a Potential Co-Investment Transaction, the members of the Regulated Fund’s Board eligible to vote on that Potential Co-Investment Transaction under Section 57(o) of the Act (treating any registered investment company or series thereof as a BDC for this purpose).