Common use of Checks and Drafts Clause in Contracts

Checks and Drafts. All checks, drafts or other orders for the payment of money, notes or other evidence of indebtedness issued in the name of the Corporation shall be signed by such Officer, employee or agent of the Corporation and in such manner as shall be determined by the Board of Directors or Global Executive Committee. In the absence of such determination by the Board of Directors or Global Executive Committee, such instruments shall be signed by the Treasurer of the Corporation.

Checks and Drafts. All checks, drafts or other orders for concerning the payment of money, notes notes, or other evidence of indebtedness issued in the name of the Corporation shall must be signed by such Officer, employee officer or other agent of the Corporation and in such manner as shall mayshall be periodically determined by resolution ofan annually approved policy adopted by the Board of Directors or Global Executive CommitteeBoard. In the absence of such a determination by the Board of Directors or Global Executive CommitteeBoard, such instruments shall will be signed by the Treasurer of and countersigned by the Corporation.Board Chair. ARTICLE XIIARTICLE XI