WAIVER OF IMMUNITIES, EXEMPTIONS AND PRIVILEGES Sample Clauses

WAIVER OF IMMUNITIES, EXEMPTIONS AND PRIVILEGES. The immunities, exemptions and privileges provided in this Chapter are granted in the interests of the Bank. The Board of Directors may waive to such extent and upon such conditions as it may determine, the immunities, exemptions and privileges provided in this Chapter in cases where such action would, in its opinion, be appropriate in the best interests of the Bank. The President shall have the right and the duty to waive any immunity, exemption or privilege in respect of any officer or employee of, or any expert performing a mission for, the Bank where, in his opinion, the immunity, exemption or privilege would impede the course of justice and can be waived without prejudice to the interests of the Bank. In similar circumstances and under the same conditions, the Board of Directors shall have the right and duty to waive any immunity, exemption or privilege respecting the President and each Vice-President. CHAPTER IX AMENDMENTS, INTERPRETATION, ARBITRATION
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