Initial Directors definition

Initial Directors shall have the meaning set forth in Section 2.1(a).

Initial Directors means the First Directors named in the Letters Patent of the Association;

Initial Directors shall have the meaning set forth in Section 4.1 of this Agreement.

Examples of Initial Directors in a sentence

• The quorum necessary for transaction of business by the Initial Board shall be a majority of the Initial Directors, either in person or by proxy, at meetings at which a quorum is present.

• The Initial Nominating Committee will consist of the Initial Directors except the Management Director (as defined in Article IV, Section 3), and at least two other persons selected by these Initial Directors to represent the interests of the Membership.

• The Board consisting of the Initial Directors (“Initial Board”) may conduct only organizational business of the corporation, including but not limited to approving these Bylaws, authorizing the opening of a bank account, appointing officers, approving the Delegation Agreement and reviewing and approving the Corporation’s business plan and budget.

• Notwithstanding the foregoing, the Directors named as Initial Directors will serve only until the first membership meeting of the Corporation at which Independent Directors are elected.

• The Initial Directors shall serve until the earlier of their resignation or removal or until their successors are duly elected and qualified in accordance with the Amended Parent Company Bylaws.

More Definitions of Initial Directors

Initial Directors means those individuals initially appointed as the directors of the Corporation once it ceased to be wholly-owned by Sara Lee Corporation; provided, however, that any individual who becomes a director of the Corporation at or after the first annual meeting of stockholders of the Corporation whose election, or nomination for election by the Corporation’s stockholders, was approved by the vote of at least a majority of the Initial Directors then comprising the Board (or by the nominating committee of the Board, if such committee is comprised of Initial Directors and has such authority) shall be deemed to have been an Initial Director; and provided further, that no individual shall be deemed to be an Initial Director if such individual initially was elected as a director of the Corporation as a result of: (i) an actual or threatened solicitation by a Person (other than the Board) made for the purpose of opposing a solicitation by the Board with respect to the election or removal of directors; or (ii) any other actual or threatened solicitation of proxies or consents by or on behalf of any Person (other than the Board).

Initial Directors has the meaning set forth in Section 4.1.

Initial Directors means, collectively, the Initial Harris Directors and Initial Stratex Directors.

Initial Directors shall have the meaning set forth in Article IV.Q.3 hereof.

Initial Directors has the meaning ascribed to such term in Section 3.1(c)(i)(A).

Initial Directors shall have the meaning set forth in Section 6.01(m).

Initial Directors. As at the Initial Drawdown Date, the Directors of the Company will comprise: Lender Director[s]: [insert names] as the Lender Director[s]; [and] Existing Shareholders' Director[s]: [insert names] as the Existing Shareholders' Director[s]; [and] [Independent Director[s]: [insert names] as the Independent Director[s].] Chairperson: The Chairperson will be a Director appointed by a majority vote of the Board (acceptable to the Lenders). The Chairperson will [not] have an additional casting vote. Quorum: A quorum for a meeting of the Board will be a majority of Directors, including at least one Lender Director and at least one Existing Shareholders' Director (or their respective alternates in each case).