Examples of Supermajority Board Approval in a sentence

The Company shall be dissolved only upon Supermajority Board Approval and shall not require any Member Vote or other approval or consent rights.
By Supermajority Board Approval, the Company shall adopt an Annual Budget for the operation of the Company for each fiscal year following the initial fiscal year of the Company prior to the start of such fiscal year.
In the event vacancies exist on the Board of Directors after each Charter Member has designated a Board member, the Board of Directors may upon Supermajority Board Approval establish a written election process enabling the appointment of one or more members to the Board of Directors from among the Representatives of Core Members.
For the avoidance of any doubt, the dissolution of the Company shall occur only upon Supermajority Board Approval and will not occur due to the happening of any other event, including a Member Vote.
Except as otherwise set forth in the Company Agreement or herein, the Company may modify or amend this Membership Agreement at any time upon Supermajority Board Approval of the Board of Directors of the Company and notification to each Member of such modification or amendment.

More Definitions of Supermajority Board Approval

Supermajority Board Approval means the affirmative vote of a majority of ---------------------------- the authorized number of directors including the affirmative vote of any two directors who are Founders Designated Directors, the Odyssey Designated Director or the Chief Executive Officer.

Supermajority Board Approval means (i) the approval of at least 75% of the total number of members of the Board or (ii) the unanimous written consent of the Board.

Supermajority Board Approval means the affirmative vote of 75% or more of the members of Company's Board of Directors; provided that, during the Interim Period or at any time that Purchaser Beneficially Owns more than 25% of the Total Current Voting Power of the Company and, notwithstanding that Purchaser voted all shares Beneficially Owned by Purchaser in the most recent election of members of the Board of Directors of the Company for all of the designees of Purchaser to the Board of Directors of the Company (which number of designees was the maximum number Purchaser was entitled to designate pursuant to the provisions of Section 3.2(b)), the number of Purchaser Directors is fewer than the number Purchaser is entitled to designate pursuant to the provisions of Section 3.2(b), a Supermajority Board Approval shall not be deemed to have been obtained unless the written consent of Purchaser shall have been obtained with respect to the Event Requiring Supermajority Board Approval.

Supermajority Board Approval means the affirmative vote of at least six of the Directors present at a duly-convened meeting of the Board at which a quorum is present.

Supermajority Board Approval means the affirmative vote or written consent of two thirds (2/3) of the directors of the Company rounded down to the nearest whole number, and including the affirmative vote or written consent of at least one Disinterested Director, duly obtained in accordance with the applicable provisions of the Company’s bylaws and applicable law.

Supermajority Board Approval means the approval of six (6) of nine directors (or 2/3 of the directors if there is a change in the size of the Board). Any transfers not made in compliance with this Section 6 shall be null and void ab initio, shall not be recorded on the books of the Company or its transfer agent and shall not be recognized by the Company. Notwithstanding any of the foregoing, other than in connection with an Exempt Transfer or the Second Sale (as defined in the Side Letter) these transfer restrictions shall no longer be in effect in the event any Institutional Investor sells any Equity Securities outside of an Approved Liquidity Event.

Supermajority Board Approval means, if there are seven (7) members of the Board of Directors of the Company, the approval of five (5) of the seven (7) members of the Board of Directors of the Company, and if there are more or less than seven (7) members of the Board of Directors of the Company, the approval of that number of members representing at least two-thirds (rounded up to the nearest whole number) of the members of the Board of Directors of the Company. For purposes of this Agreement, the following terms have the meanings set forth in the sections indicated below: Term Section Agreement Preamble Company Preamble Effective Date Recitals Existing Shareholder 4.10 First Offer Pro Rata Share 3.1 Initial Notice 3.2 Initiating Holder(s) 2.2(a) Investor Offer 3.3