Valid proceedings Clause Samples
The 'Valid proceedings' clause defines the requirements for legal or administrative actions to be recognized as legitimate under the agreement. Typically, this clause outlines the necessary steps or formalities that must be followed for a proceeding—such as a lawsuit, arbitration, or regulatory action—to be considered valid, including proper notification, jurisdiction, and compliance with procedural rules. Its core function is to ensure that only properly initiated and conducted proceedings have legal effect, thereby preventing parties from being subject to invalid or improperly handled claims.
Valid proceedings. An act at any Board meeting or a committee of the Board or an act of any person acting as a Board Member is not invalidated by:
(a) a defect in the appointment or continuance in office of a person as a Board Member, a member of the committee or of the person so acting; or
(b) a person so appointed being disqualified or not being entitled to vote, if that circumstance was not known by the Board, committee or person (as the case may be) when the act was done.
Valid proceedings. Each resolution passed or thing done by, or with the participation of, a person acting as a Director is valid even if it is later discovered that:
(a) there was a defect in the appointment of the person; or
(b) the person was disqualified from continuing in office, voting on the resolution or doing the thing at the time the resolution was passed or the thing was done.