Common use of Committee of Directors Clause in Contracts

Committee of Directors. The Board may appoint a committee of directors, however designated, and delegate to such committee any of the powers of the Board except those which, under the Act, a committee of directors has no authority to exercise. At least half of the members of such committee shall be resident Canadians.

Committee of Directors. The Board may appoint a committee of directors, however designated, directors and delegate to such committee any of the powers of the Board except those which, under the Act, a committee of directors has no authority to exercise. At least half A majority of the members of such a committee shall of directors need not be resident Canadians.

Committee of Directors. The Unless otherwise permitted by the Act, the Board may appoint a managing director who must be a resident Canadian or a committee of directors, however designated, and delegate to such committee any of the powers of the Board except those which, under the Act, a managing director or a committee of directors has no authority to exercise. At least half one-quarter of the members of such committee shall be resident Canadians.