Change in Board. During any period of 24 consecutive months, a majority of the Board of Directors of the Borrower shall no longer be composed of individuals: (a) who were members of said Board on the first day of such period; or (b) whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board who were members of said Board on the first day of such period; or (c) whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board referred to in the foregoing clauses (a) and (b).
Appears in 14 contracts
Sources: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)
Change in Board. During any period of 24 consecutive months, a majority of the Board of Directors of the Borrower shall no longer be composed of individuals:
(a) a. who were members of said Board on the first day of such period; or;
(b) b. whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board who were members of said Board on the first day of such period; or
(c) c. whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board referred to in the foregoing clauses (a) and (b).
Appears in 5 contracts
Sources: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)
Change in Board. During any period of 24 twenty four (24) consecutive months, a majority of the Board of Directors of the Borrower shall no longer be composed of individuals:
(ai) who were members of said Board on the first day of such period; or;
(bii) whose election or nomination to said Board was approved by a vote of at least two-thirds (β
) of the members of said Board who were members of said Board on the first day of such period; or
(ciii) whose election or nomination to said Board was approved by a vote of at least two-thirds (β
) of the members of said Board referred to in the foregoing clauses (ai) and (bii).
Appears in 3 contracts
Sources: Facility Agreement (Royal Caribbean Cruises LTD), Facility Agreement (Royal Caribbean Cruises LTD), Facility Agreement (Royal Caribbean Cruises LTD)
Change in Board. During any period of 24 consecutive months, a majority of the Board of Directors of the Borrower Guarantor shall no longer be composed of individuals:
(a) who were members of said Board on the first day of such period; or
(b) whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board who were members of said Board on the first day of such period; or
(c) whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board referred to in the foregoing clauses (a) and (b).
Appears in 3 contracts
Sources: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)
Change in Board. During any period of 24 consecutive months, a majority of the Board of Directors of the Borrower shall no longer be composed of individuals:
(a) a. who were members of said Board on the first day of such period; or
(b) whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board who were members of said Board on the first day of such period; or
(c) whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board referred to in the foregoing clauses (a) and (b).;
Appears in 2 contracts
Sources: Hull No. S 691 Credit Agreement (Royal Caribbean Cruises LTD), Amendment Agreement (Royal Caribbean Cruises LTD)
Change in Board. During any period of 24 consecutive months, a majority of the Board of Directors of the Borrower shall no longer be composed of individuals:
(a) who were members of said Board on the first day of such period; or
(b) whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board who were members of said Board on the first day of such period; or
(c) whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board referred to in the foregoing clauses CLAUSES (aA) and (bB).
Appears in 2 contracts
Sources: Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)
Change in Board. During any period of 24 consecutive months, a majority of the Board of Directors of the Borrower shall no longer be composed of individuals:
(a) who were members of said Board on the first day of such period; or
(b) whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board who were members of said Board on the first day of such period; or
(c) whose election or nomination to said Board was approved by a vote of at least two-thirds of the members of said Board referred to in the foregoing clauses CLAUSES (a) and (b).
Appears in 1 contract