BOARD GENERAL PROVISIONS Clause Samples

BOARD GENERAL PROVISIONS. The Board shall observe and comply with the following general provisions: 1. The Board shall meet at least once every three (3) months or at any other time if necessary. 2. The meetings of the Board, for any purpose or purposes, may be called only by the President of the Board, prior written notice served personally to the members of the Board. 3. Meetings of the Board will be preside by the President of the Board and conducted in the English language and minutes of such meetings will be prepared in writing by the Secretary of the Board in English and distributed to each member promptly following each meeting. 4. Meetings of the Board will be held in the Territory or abroad, provided that all the expenses related to the attendance of the members of the Board to the meeting will be borne by the Joint Venture. In case any member bear with the expenses derived or in connection with its attendance to any Board meeting the Joint Venture will reimburse said reasonable expenses to the member. 5. The Board may designate any place, either within or outside the Territory, as the place of meeting of the Board. If no designation is made, the place of meeting will be the principal place of business of the Joint Venture in the Territory. 6. Proposals or reports brought before any Board meetings for information or action (including, without limitation, the Joint Venture quarterly and annual financial statements) will be prepared in English and in US Dollars.