Common use of Valid proceedings Clause in Contracts

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.

Valid proceedings. Each resolution passed or thing done by, or with the participation of, a person acting as a Director or member of a committee 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 donething.