Common use of Appointment of Directors Clause in Contracts

Appointment of Directors. The Board of Directors shall be formed on the date this Contract is signed by both Parties to the JVC. The Board of Directors shall comprise seven (7) members, of which Party A shall appoint three and Party B shall appoint four. Each director shall serve a term of three (3) years, which term can be extended upon expiry by the written confirmation of the Appointing Party. Either Party can be written notice to the JVC, dismiss a director it has appointed. Should any vacancy arise as a result of retirement, dismissal, resignation, sickness, disability or death, the Appointing Party shall appoint a new director for the remainder of the term arising from the vacancy.

Appointment of Directors. The Board of Directors shall be formed on the date this Contract is signed by both Parties to the JVC. The Board of Directors shall comprise seven (7) members, of which Party A shall appoint three two and Party B shall appoint fourfive. Each director shall serve a term of three (3) years, which term can be extended upon expiry by the written confirmation of the Appointing Party. Either Party can be by written notice to the JVC, dismiss a director it has appointed. Should any vacancy arise as a result of retirement, dismissal, resignation, sickness, disability or death, the Appointing Appointment Party shall appoint a new director for the remainder of the term arising from the vacancy. The JVC shall indemnify and save harmless the directors against all liabilities that may arise by reason of the directors acting as directors of the JVC or any act or omission of the directors.

Appointment of Directors. The Board of Directors shall be formed on the date this Contract is signed by both Parties to the JVC. The Board of Directors shall comprise seven (7) members, of which Party A shall appoint three two and Party B shall appoint fourfive. Each director shall serve a term of three (3) years, which term can be extended upon expiry by the written confirmation of the Appointing Party. Either Party can be by written notice to the JVC, dismiss a director it has appointed. Should any vacancy arise as a result of retirement, dismissal, resignation, sickness, disability or death, the Appointing Appointment Party shall appoint a new director for the remainder of the term arising from the vacancy. The JVC shall indemnify and save harmless the directors against all liabilities that may arise by reason of the directors acting as directors of the JVC or any act or omission of the directors. 28.

Appointment of Directors. The Board of Directors shall be formed on the date this Contract is signed by both Parties to the JVC. The Board of Directors shall comprise seven (7) members, of which Party A shall appoint three and Party B shall appoint four. Each director shall serve a term of three (3) years, which term can be extended upon expiry by the written confirmation of the Appointing Party. Either Party can be by written notice to the JVC, dismiss a director it has appointed. Should any vacancy arise as a result of retirement, dismissal, resignation, sickness, disability or death, the Appointing Party shall appoint a new director for the remainder of the term arising from the vacancy.