Composition and Qualification Sample Clauses

Composition and Qualification. (i) The Discretionary Committee shall consist of three individuals, each of whom is resident and employed by the Trustee in Alberta and at least two of whom are employed out of the Calgary Office. (ii) An individual will automatically cease to be a member of the Discretionary Committee if he/she ceases to be resident in Alberta or if his/her employment with the Trustee is terminated. The Trustee shall appoint a replacement member to the Discretionary Committee as soon as reasonably practicable. Members must possess the proper qualifications, knowledge, experience and competence to exercise the powers, duties and obligations granted to the Trustee under the Trust Agreement.