Loans to Directors. Without limiting the generality of the foregoing, it is expressly declared that the Directors shall have power to make such loans to Directors and to provide such guarantees and security for obligations undertaken by, Directors, as may be permitted by the Law, and by resolution of the Company, but not otherwise.
Loans to Directors. No loan of money or property or any advance of services to be performed in the future shall be made to any officer or director of the Cooperative.
Loans to Directors. The Company may not lend money to or guarantee the obligation of a Director of the Company unless the particular loan or guarantee is approved by the shareholders, with the holders of a majority of the shares entitled to vote thereon constituting a quorum, but shares held of record or beneficially by Directors who are benefited by such loan or guarantee shall not be entitled to vote or to be included in the determination of a quorum.
Loans to Directors. 12.1 There is not outstanding:
Loans to Directors. The Corporation may not lend money to, or guarantee the obligation of a Director of, the Corporation unless: (a) the specific loan or guarantee is approved by a majority of the votes represented by the outstanding voting shares of all classes, voting as a single voting group, except the votes of shares owned by or voted under the control of the benefited Director; or (b) the Corporation’s Board of Directors determines that the loan or guarantee benefits the Corporation and either approves the specific loan or guarantee or a general plan authorizing loans and guarantees. The fact that a loan or guarantee is made in violation of this Section shall not affect the borrower’s liability on the loan.
Loans to Directors. The Corporation shall make no advancements for services to be performed in the future, nor any loan of money or property to any director or officer of the Corporation.
Loans to Directors. There is not now outstanding any loan made by any EARNZ Group Company to, or debt owing to any EARNZ Group Company by, any of the Directors or any person connected with any of them (within the meaning of section 1122 of the CTA or, as the case may be, section 993 of the ITA).
Loans to Directors. A loan shall not be made by the Corporation to any director unless it is authorized by vote of the stockholders. For this purpose, the shares of the director who would be the borrower shall not be shares entitled to vote.
Loans to Directors. All loans by the Company to its directors shall have been cancelled or paid in full.
Loans to Directors. Except as set forth in Schedule 4.22 attached hereto, NFD has no loan or Debt outstanding (other than the normal salaries, bonuses, fringe benefits and obligations to reimburse for expenses incurred on behalf of NFD in the normal course of employment) which has been made to any director, officer, shareholder, or employee, to any former director, officer, shareholder, or employee of NFD or to any Person not dealing at arm's length with any of the foregoing.
