Common use of Checks and Notes Clause in Contracts

Checks and Notes. Except as otherwise specifically determined by resolution of the Board, or as otherwise required by law, checks, drafts, promissory notes, orders for the payment of money, and other evidence of indebtedness of the Corporation shall be signed by the Secretary and a second officer of the Corporation. In cases where the amount is equal to or less than a pre- determined threshold determined by the Board the signature of the Secretary alone will be sufficient.

Checks and Notes. Except as otherwise specifically determined by resolution of the Board, or as otherwise required by law, checks, drafts, promissory notes, orders for the payment of money, and other evidence of indebtedness of the Corporation shall be signed by the Secretary Managing Director and a second officer of the Corporation. In cases where the amount is equal to or less than a pre- pre-determined threshold determined by the Board the signature of the Secretary Managing Director alone will be sufficient.