Common use of Canadian Directors Present at Meetings Clause in Contracts

Canadian Directors Present at Meetings. Subject to the Act, the Board shall not transact business at a meeting, other than filling a vacancy in the Board, unless at least 25 per cent of the Directors present are resident Canadians, or if the Corporation has fewer than four Directors, at least one of the Directors present is a resident Canadian, except where:

Canadian Directors Present at Meetings. Subject to the Act, but only if the Board Act requires, the board shall not transact business at a meeting, other than filling a vacancy in the Boardboard, unless at least 25 per cent of the Directors directors present are resident Canadians, or if the Corporation has fewer than four Directorsdirectors, at least one of the Directors directors present is a resident Canadian, except where:

Canadian Directors Present at Meetings. Subject to the Act, the Board board shall not transact business at a meeting, other than filling a vacancy in the Boardboard, unless at least 25 per cent one-quarter of the Directors directors present are resident Canadians, or or, if the Corporation has fewer than four Directorsdirectors, at least one of the Directors directors present is a resident Canadian, except where:where:‌