Board Approval Required. Agreements shall not be a valid and binding obligation of the District, unless and until executed by both parties and approved or ratified by the District’s Board of Education.
Board Approval Required. This Agreement shall be effective when approved by the Board at a duly noticed meeting.
Board Approval Required. This Agreement is conditioned upon the approval of the governing boards of both ACE and VCCCD as set forth by Education Code Section 76004.
Board Approval Required. The Company shall not undertake and shall procure that none of its Subsidiaries undertake any of the following activities without the prior written affirmative resolution of three quarters of all the Directors:
(i) The adoption or material modification of an AOP; including, without limitation, the assumption of material liabilities greater than those provided for in the AOP;
(ii) The sale or transfer of all or a material part of the assets of the Company;
(iii) Entering into, amending or terminating any transactions between the Company and any Shareholder;
(iv) Introducing any new products to the Business.
(v) Any acquisition, divestiture of any business (whether by way of share or asset sale or purchase and whether in whole or in part.)
(vi) Any effort to engage in a new line of business outside the Ordinary Course.
(vii) Any capital expenditure not contemplated in an approved AOP in excess of US$ 5,000,000.
(viii) Any external financing by the Company or the Subsidiaries in excess of that contemplated by an approved AOP.
(ix) Any decision not to pay a cash dividend in accordance with Section 5.01(a), despite the availability of profits for such purposes.
(x) Any transaction involving the Company or one of its Subsidiaries and PAS or one of its subsidiaries.
(xi) Entering into any material contract, commitment or arrangement which is inconsistent with the applicable AOP;
(xii) The appointment and/or replacement of the GM, the Chief Financial Officer and the Vice President of Marketing, who shall be nominated in accordance with Section 7.02;
(xiii) Making or committing to make any capital expenditure or capital investment (or series of related expenditures or investments) in excess of US$5,000,000 unless such higher amount is specifically approved as part of the AOP;
(xiv) Incurring any indebtedness for borrowed money or creating any encumbrance or security over the assets of the Company which (in each case) is inconsistent with the applicable AOP;
(xv) Making any loans to any person or grant any guarantee or indemnity, in any case other than in the ordinary course of business; or
Board Approval Required. Notwithstanding anything contained in this Article VII to the contrary, except for proceedings to enforce rights to indemnification, the Company shall not be obligated to indemnify any Covered Person in connection with a proceeding (or part thereof) initiated by such Person on behalf of such Person unless such proceeding (or part thereof) was authorized or consented to by the Board.
Board Approval Required. No member of the Board shall make decisions on policy or non-emergency expenditures without approval of the Board.
Board Approval Required. Any Fire Department fund raising activities shall have the prior approval of the Board.
Board Approval Required. This Agreement will not become final, binding and effective on Employer unless and until it has been approved through a resolution of the Board of Directors of Employer.
Board Approval Required. 1. If the Recipient wishes to enter into a sub-contract for work to be done that would normally be part of the duties and responsibilities of the Recipient, the Recipient shall not do so until it makes a request to and receives permission from the Board.
2. At the time of the request for approval, the Recipient shall provide the necessary documentation (in paper or electronic form) to aid the Board, including, but not limited to, details regarding the scope of the sub-contract and cost estimates.
3. Furthermore, failure to comply with the provisions of this paragraph may result in the Recipient being found in default and the Board may terminate this Agreement pursuant to Section XV.
