Consent Required for Subsidiaries to Join Plan. The Plan Administrator, upon receiving a written resolution of the board of directors of a Subsidiary electing to become a Participating Company, may approve or disapprove such election acting as the delegate of the Board of Directors. The Board of Directors shall retain the final authority to override such action and approve or disapprove the Subsidiary’s request.
Appears in 5 contracts
Samples: Retirement and Savings Plan (Host Marriott Corp/), Retirement and Savings Plan (Host Marriott L P), Retirement and Savings Plan (Host Marriott Corp/)