Board Composition definition
Board Composition means that for so long as at least 25% percent of the initially issued shares of Preferred Stock remain outstanding:
Board Composition means that for so long as at least twenty five percent (25%) of the initially issued shares of Preferred Stock remain outstanding, the holders of record of the shares of Series Seed Preferred Stock exclusively and as a separate class, shall be entitled to elect [Preferred Directors] director(s) of the Corporation (the “Series Seed Director(s)”), the holders of record of the shares of Common Stock, exclusively and as a separate class, shall be entitled to elect [Common Directors] director(s) of the Corporation, and any additional directors shall be elected by the affirmative vote of a majority of the Preferred Stock and Common Stock, voting together as a single class on an as-converted basis. For administrative convenience, the initial Series Seed Director may also be appointed by the Board in connection with the approval of the initial issuance of Series Seed Preferred Stock without a separate action by the holders of a majority of Series Seed Preferred Stock.
Board Composition means that:
Examples of Board Composition in a sentence
Where used in these bylaws, the following terms have the meanings set forth in Section 5.1(b) (Board Composition) of the Members Agreement: “UHC Director”; “GHS Director”; “UPH Director”; “UPH Universal Director”; and “Independent Director”.
Any Person (as defined below) becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing forty-five percent (45%) or more of the combined voting power of the Company’s then outstanding securities; Change in Board Composition.
Board Composition The Community Advisory Board will represent different stakeholders and interests.
The composition of the ListCo Board shall fully comply with the Agreed ListCo Board Composition.
All necessary corporate action to appoint the number of directors to the Company's Board of Directors to meet the Board Composition Requirement effective immediately after giving effect to the purchase of the Shares to be purchased on the First Closing Date.
More Definitions of Board Composition
Board Composition means so long as any shares of Class F Common remain outstanding, the holders of Class F Common, voting as a separate class, shall be entitled to elect two (2) directors (the “Class F Directors”) at each meeting or pursuant to each action by written consent of the Company's stockholders for the election of directors.
Board Composition. The Board shall consist of seven representatives from the three categories of members: Standard, Small Business, and Individual. Standard members may designate five directors to represent all members in that category. The Small Business category may designate one director to represent all of the members in that category. One additional board seat is reserved for the special At Large category, which is comprised of all Standard, Small Business, or Individual members. If a Board seat cannot be filled by the member category, a member from any category may fill the empty Board seat with approval of the other Board members.
Board Composition. Moon Sub and the Company will have the same board of directors or equivalent body (the “Board”). The Board will consist of seven members, each with one vote on all matters considered. The Board will govern the activities of Moon Sub and the Company. The initial Board will be comprised of five Moon designees (designated by LIM), ▇. ▇▇▇▇▇▇ and ▇. ▇▇▇▇▇▇. ▇. ▇▇▇▇▇▇ and ▇. ▇▇▇▇▇▇ will each serve on the Board for so long as he is employed in his current position with the Company. The majority member of Moon will have the right to designate up to two observers entitled to attend all Board meetings. Moon has the right to replace any Board member, including ▇. ▇▇▇▇▇▇ and ▇. ▇▇▇▇▇▇ in the event their employment is terminated; provided, however, that any board replacement for ▇. ▇▇▇▇▇▇ and/or ▇. ▇▇▇▇▇▇ shall be a member of the Company’s senior management team. Moon’s right to designate Board members is transferable, in whole or in proportionate part, to “affiliated entities” and to entities acquiring at least 20% of Moon Sub’s equity interest. All Board action will require approval by a majority of the directors. Board Committees: The Board will have an investment committee (currently known as the Asset Allocation Committee) comprised of ▇. ▇▇▇▇▇▇ and ▇. ▇▇▇▇▇▇ (to the extent they serve on the full Board) and three Moon designees. All investment committee action will require approval of a majority of the committee members. Company management will have discretion to make Company decisions with respect to investments, acquisitions, developments and dispositions consistent with the Company’s investment criteria, in amounts not in excess of $10 million. Investments, acquisitions, new developments and dispositions of more than $10 million and less than $25 million require investment committee approval. Board approval is required for all investments, acquisitions, new developments and dispositions of $25 million or more. The Board also expects to have audit and compensation committees, and such other committees as may be designated by the Board from time to time. A majority of the members of each such committee will consist of Moon designees so long as it owns a majority of the Equity Interests of Moon Sub. The Board will consider the existing policies of the Company prior to the consummation of the Merger with respect to the duties of the Board and the committees thereof but will not be bound by any such policy unless the Board adopts the same following the acquisition o...
Board Composition means that for so long as at least 50% percent of the initially issued shares of Series A Preferred Stock remain outstanding:
Board Composition means that the holders of record of the shares of Common Stock will be entitled to elect all directors of the Corporation.
Board Composition means the holders of record of the shares of Preferred Stock and Common Stock, voting together as a single class on an as-converted basis, shall be entitled to elect the directors of the Corporation.
Board Composition means that for so long as at least 25% percent of the initially issued shares of Series Seed Preferred Stock remain outstanding, the holders of record of the shares of Series Seed Preferred Stock exclusively and as a separate class, are entitled to elect one