Common use of Circular Resolutions Clause in Contracts

Circular Resolutions. The Board may act by written resolution, or in any other legally permissible manner, on any matter, except as set forth in Clause 8.18 hereof and except for matters, which by law may only be acted upon at a meeting. Subject to any restrictions imposed by law, no written resolution shall be deemed to have been duly adopted by the Board, unless such written resolution shall have been approved by the requisite majority of Directors, as provided in various clauses in this Agreement, including where applicable Clause 8.18. If a Director does not convey his acceptance or rejection of the proposed resolution within 15 (fifteen) days from the date of receipt of the requisite documentation (including explanatory statements and supporting documents), he shall be deemed to have rejected the proposed resolution.

Circular Resolutions. The Board may act by written resolution, or in any other legally permissible manner, on any matter, except as set forth in Clause 8.18 hereof and except for matters, which by law Applicable Law may only be acted upon at a meeting. Subject to any restrictions imposed by lawApplicable Law, no written resolution shall be deemed to have been duly adopted by the Board, unless such written resolution shall have been approved by the requisite majority of Directors, as provided in various clauses sections in this Agreement, including where applicable Clause 8.182.17. If a Director does not convey his his/her acceptance or rejection of the proposed resolution within 15 (fifteen) days from the date of receipt of the requisite documentation (including explanatory statements and supporting documents), he he/she shall be deemed to have rejected the proposed resolution.

Circular Resolutions. The Board may act by written resolution, or in any other legally permissible manner, on any matter, except as set forth in Clause 8.18 hereof Clause10.17hereof and except for matters, which by law may only be acted upon at a meeting. Subject to any restrictions imposed by law, no written resolution shall be deemed to have been duly adopted by the Board, unless such written resolution shall have been approved by the requisite majority of Directors, as provided in various clauses in this Agreement, including where applicable Clause 8.18Clause10.17. If a Director does not convey his acceptance or rejection of the proposed resolution within 15 (fifteen) days from the date of receipt of the requisite documentation (including explanatory statements and supporting documents), he shall be deemed to have rejected the proposed resolution.