Unsuitable Director definition
Unsuitable Director means a Director who has been charged with (or is suspected of) having, or determined by a court of competent jurisdiction to have, acted in material breach of the Laws or committed any serious criminal offence, or a material breach of any fiduciary duty in relation to the Group;
Unsuitable Director means any Board Member (i) who, in the discretion of the Board of Directors, based on reasonably verifiable information or information received from a Gaming Authority, is deemed likely to preclude or materially delay, impede, impair or jeopardize the Corporation or any Affiliated Company’s application for or ability to obtain, right to the use of or ability to reinstate or retain any Gaming License, or to result in the imposition of materially burdensome terms of or conditions on any Gaming License; (ii) who fails or refuses to fulfill its obligations as provided in Section 6 below in a timely manner; or (iii) who otherwise fails or refuses to obtain any required Gaming License or Liquor License
Unsuitable Director means a person who (i) has been at any time charged with (a) acting in material breach of the Law, (b) in breach of, or facilitating an offence under, Anti-Corruption Laws, Anti-Money Laundering Laws, Export Trade-Controls or Sanctions, (c) committing any serious criminal offense or (d) materially breaching any fiduciary or other duty to the Corporation or (ii) is the subject or target of any Sanctions. For purposes of this definition, the term “Unsuitable Director”shall not include any Person who has been charged with, but determined by a court of competent jurisdiction to have been not guilty or not civilly liable for, any such matters.
Examples of Unsuitable Director in a sentence
An Investor Nominee must: (i) consent in writing to serve as a director; (ii) be eligible to serve as a director (A) under the Act and (B) pursuant to the rules of the TSXV and any other stock exchange on which the Common Shares are then listed and/or traded; and (iii) not be an Unsuitable Director.
More Definitions of Unsuitable Director
Unsuitable Director. ▇▇▇▇▇ ▇ ▇irector who is or becomes of unsound mind or is or becomes substantially unable to fulfil his duties due to ill health or is or has been determined by a court of competent jurisdiction to have acted in material breach of any relevant laws or to have committed any serious criminal offence or material breach of any fiduciary or other duty in relation to the CTH Group or is or becomes otherwise unfit to act as a director;