Common use of Composition of Board of Directors Clause in Contracts

Composition of Board of Directors. (1) Subject to paragraph (2) of this article and paragraph (1) of article 14 the Board shall consist of seven directors as follows— (a) one director appointed by the Class A shareholder; (b) one director appointed by the Class B shareholder; (c) two directors appointed by the Class C shareholder; (d) one director appointed by the Class D shareholder; (e) one director appointed by the Class E shareholder; and (f) one director appointed by the Class F shareholder. (2) Where the International Finance Corporation ceases to be a shareholder the Board shall consist of six directors as set out at subparagraphs (a) to (d) and (f) of paragraph (1) of this article.

Composition of Board of Directors. (1) Subject to paragraph (2) of this article and paragraph (1) of article 14 the Board shall consist of seven directors as follows— (a) one director appointed by the Class A shareholder; (b) one director appointed by the Class B shareholder; (c) two directors appointed by the Class C shareholder; (d) one director appointed by the Class D shareholder; (e) one director appointed by the Class E shareholder; and (f) one director appointed by the Class F shareholder. (2) Where the International Finance Corporation ceases to be a shareholder the Board shall consist of six directors as set out at subparagraphs (a) to (d) and (f) of paragraph (1) of this article.. Article 14‌

Composition of Board of Directors. (1) Subject to paragraph (2) of this article Article and paragraph (1) of article 14 Article 14, the Board shall consist of seven directors as follows— (a) one director appointed by the Class A shareholder; (b) one director appointed by the Class B shareholder; (c) two directors appointed by the Class C shareholder; (d) one director appointed by the Class D shareholder; (e) one director appointed by the Class E shareholder; and (f) one director appointed by the Class F shareholder. (2) Where the International Finance Corporation ceases to be a shareholder the Board shall consist of six directors as set out at subparagraphs paragraph (a1)(a) to (d) and (f) of paragraph (1) of this articleArticle.