Changes to Members and Affiliated Parties. The Agency Board of Directors may, in its sole and absolute discretion, approve the addition of new Members or Affiliated Parties to the Agency by supermajority vote. In the event of Board approval of a new Member the new Member shall execute this Agreement but amendment of this Agreement will not be required. In the event of Board approval of a new Affiliated Party the new Affiliated Party shall execute a memorandum of understanding in accordance with Article 3.13. The Board of Directors shall provide all Members and Affiliated Parties with 30 days’ advance written notice prior to any Board action to add a new Member or Affiliated Party.
Appears in 4 contracts
Samples: Powers Agreement, Joint Exercise of Powers Agreement, Joint Exercise of Powers Agreement
