Common use of Committee Rules Clause in Contracts

Committee Rules. Unless the Board otherwise provides, each committee designated by the Board may adopt, amend and repeal rules for the conduct of its business. In the absence of a resolution by the Board or a provision in the rules of such committee to the contrary, the presence of a majority of the total number of members of such committee shall constitute a quorum for the transaction of business, and the vote of a majority of the members of the Board present at a meeting at which a quorum is present shall be the act of such committee.

Committee Rules. Unless the Board otherwise provides, each committee designated by the Board may adoptmake, amend and alter or repeal rules for the conduct of its business. In the absence of a Board resolution by the Board or a provision in the committee's rules of such committee to the contrary, the presence of a majority of the total entire authorized number of members of such committee shall constitute a quorum for the transaction of business, and the vote of a majority of the members of the Board present at a meeting at which the time of such vote if a quorum is then present shall be the act of such committee, and in other respects such committee shall conduct its business in the same manner as the Board conducts its business pursuant to this Agreement.