Approval Board Sample Clauses

Approval Board. The Members hereby establish a board (the “Approval Board”), which shall not be deemed “managers” as defined in the Act (other than the Independent Manager), but which shall (i) remain in existence (A) for so long as the Obligations remain outstanding and (B) until the obligations of Xxxxx Xxxxxxxxxx pursuant to the Xxxxxxxxxx Guaranty and Xxxxxxx Xxxxx pursuant to the Xxxxx Guaranty have been discharged in full, unless the consent of Xxxxx Xxxxxxxxxx or Xxxxxxx Xxxxx, as applicable, is given to earlier termination under this clause (i)(B) (but such consent shall not affect clause (i)(A)) and (ii) always consist of the following three persons (unless a successor is appointed in accordance with the terms hereof): (1) Xxxxx Xxxxxxxxxx; (2) Xxxxxxx Xxxxx; and (3) the Independent Manager. If at any time that the Xxxxxxxxxx Guaranty is in effect, Xxxxx Xxxxxxxxxx (or his successor) becomes disabled or dies, Xxxxx Xxxxxxxxxx or Xxxxx Xxxxxxxxxx’x guardian (in the case of disability) or his estate (in the case of his death) shall have the sole right to appoint the successor person to fill such Approval Board position currently held by Xxxxx Xxxxxxxxxx. If at any time that the Xxxxx Guaranty is in effect, Xxxxxxx Xxxxx (or his successor) becomes disabled or dies, Xxxxxxx Xxxxx or Xxxxxxx Xxxxx’x guardian (in the case of disability) or his estate (in the case of his death) shall have the sole right to appoint the successor person to fill such Approval Board position currently held by Xxxxxxx Xxxxx. Notwithstanding anything to the contrary contained in this Agreement, the Approval Board shall not have any authority to manage the business or affairs of the Company and shall not have any obligations under this Agreement except as expressly set forth in Section 8.9.
Sample 1Sample 2
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Approval Board. The Members hereby establish a board (the “Approval Board”), which shall not be deemed “managers” as defined in the Act (other than the Independent Manager), but which shall (i) remain in existence (A) for so long as the Obligations remain outstanding and (B) until the obligations of Xxxxx Xxxxxxxxxx pursuant to the Xxxxxxxxxx Guaranty and Xxxxxxx Xxxxx pursuant to the Xxxxx Guaranty have been discharged in full, unless the consent of Xxxxx Xxxxxxxxxx or Xxxxxxx Xxxxx, as applicable, is given to earlier termination under this clause (i)(B) (but such consent shall not affect clause (i)(A)) and (ii) always consist of the following three persons (unless a successor is appointed in accordance with the terms hereof): (1) Xxxxx Xxxxxxxxxx; (2)
Sample 1

Related to Approval Board

  • Board of Directors Approval Seller shall have received the approval of its board of directors to the transactions contemplated by this Agreement.

  • Board of Director Approval This Agreement shall have been approved by the Board of Directors of Acquirer.

  • Board Approval No reimbursement shall be paid to the Investment Adviser pursuant to this provision in any fiscal year, unless the Trust's Board of Trustees has determined that the payment of such reimbursement is appropriate in light of the terms of this Agreement. The Trust's Board of Trustees shall determine quarterly in advance whether any portion of the Reimbursement Amount may be paid to the Investment Adviser in such quarter.

  • Member Approval The “vote” or “approval” of the Members shall mean approval by a majority percentage of Membership Interest. Members shall vote or approve by their percentage interest as shown on Exhibit A of this Agreement. No annual or regular meetings of the Members are required. However, if such meetings are held, such meetings shall be noticed, held and conducted pursuant to the Act.

  • Approval This Agreement shall not be binding until it has been approved by the Committee during a duly noticed Committee meeting.

  • Shareholders' Approval The holders of not less than a majority of the outstanding common stock of the Purchaser shall have voted for authorization and approval of this Agreement and the transactions contemplated hereby.

  • Director Approval The Board of Directors of Holdings shall have approved this Agreement and the transactions contemplated herein.

  • Waiver of Notice; Approval of Meeting; Approval of Minutes The transactions of any meeting of Limited Partners, however called and noticed, and whenever held, shall be as valid as if it had occurred at a meeting duly held after regular call and notice, if a quorum is present either in person or by proxy. Attendance of a Limited Partner at a meeting shall constitute a waiver of notice of the meeting, except when the Limited Partner attends the meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened; and except that attendance at a meeting is not a waiver of any right to disapprove the consideration of matters required to be included in the notice of the meeting, but not so included, if the disapproval is expressly made at the meeting.

  • Course Approval Approval for dual credit shall be by the LEA and POSTSECONDARY INSTITUTION representatives on a course-by-course basis each semester based on the student’s prior coursework, career pathway, and/or academic readiness. There is no state limit to the number of credits a student may earn through dual credit in an academic term; however, the student must meet eligibility requirements.

  • Plenary authority of the Board of Trustees The Sub-Adviser and Adviser both acknowledge that the Fund is a mutual fund that operates as a series of the Trust under the authority of the Board of Trustees.

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