Common use of Amendment by Directors Clause in Contracts

Amendment by Directors. The Board of Directors shall have the power without the assent or vote of the shareholders to adopt by-laws, and except as hereinafter provided in Section 2 of this Article, and subject to such limitations as may be imposed by law, to rescind, alter, amend or repeal by a vote of a majority of the whole Board of Directors any of the by-laws, whether adopted by the Board of Directors or by the shareholders.

Appears in 1 contract

Samples: Note Purchase Agreement

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