Common use of Board Consent Clause in Contracts

Board Consent. 4.1 The parties acknowledge that this Licence is conditional upon the Board’s approval which will not be unreasonably refused. 4.2 Notwithstanding clause 4.1 above, the Board may withhold its approval to the Licence if the Board believes (in its sole discretion) that the Licence will not be in the best interest of the Scheme or it is not feasible or economic to reticulate water to the Licensee or if the Licensor does not hold the requisite number of Ordinary Shares or Construction Shares.

Board Consent. 4.1 The parties acknowledge that this Licence is conditional upon the Board’s approval which will not be unreasonably refused. 4.2 Notwithstanding clause 4.1 above, the Board may withhold its approval to the Licence if the Board believes (in its sole discretion) that the Licence will not be in the best interest of the Scheme or it is not feasible or economic to reticulate water to the Licensee or if the Licensor does not hold the requisite number of Ordinary Shares or Construction SharesLicensee.