Common use of Authority of the Board of Directors Clause in Contracts

Authority of the Board of Directors. Subject only to the provisions of this Agreement and applicable Law: (a) the Board shall have ultimate responsibility for management and control of the Company; and (b) the Board shall be required to make all major decisions of the Company (including all decisions with respect to matters set forth in Clause 3.13), and each Shareholder shall procure, subject to applicable law, that the Company and each Director or officer nominated by such shareholder refrain from taking and the Company shall refrain from taking such actions without prior approval of the Board.

Authority of the Board of Directors. Subject only to the provisions of this Agreement Agreement, the Articles of Association and applicable Law: (a) the Board shall have ultimate responsibility for management and control of the Company; and (b) subject to compliance with Clause 3.8(c), the Board shall be required to make all major decisions of the Company (including all decisions with respect to matters set forth in Clause 3.13), and each Shareholder shall procure, subject to applicable law, that the Company and each Director or officer nominated by such shareholder refrain from taking and the Company shall refrain from taking such actions without prior approval of the BoardCompany.