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E N D M E N T For good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree to amend the Agreement as follows:
A G R E E M E N T In consideration of the foregoing recitals and of the mutual covenants contained herein, the parties, intending to be legally bound, agree as follows:
E E M E N T In consideration of the foregoing and the mutual covenants and agreements hereinafter set forth, the parties hereto hereby agree as follows:
A M E N D M E N T For good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree to amend the Agreement as follows:
R E E M E N T It is agreed as follows:
Regulation U Margin stock (as defined in Regulation U) constitutes less than 25% of the value of those assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge, or other restriction hereunder.
F/T When a position is declared redundant, the Employee who is displaced, will be offered the opportunity to transfer to any vacant position in the same classification and same shift and the Union will be so notified.
Board of Governors (a) All the powers of the Association shall be vested in the Board of Governors.
(b) Each Governor and Alternate Governor of the Bank appointed by a member of the Bank which is also a member of the Association shall ex officio be a Governor and Alternate Governor, respectively, of the Association. No Alternate Governor may vote except in the absence of his principal. The Chairman of the Board of Governors of the Bank shall ex officio be Chairman of the Board of Governors of the Association except that if the Chairman of the Board of Governors of the Bank shall represent a state which is not a member of the Association, then the Board of Governors shall select one of the Governors as Chairman of the Board of Governors. Any Governor or Alternate Governor shall cease to hold office if the member by which he was appointed shall cease to be a member of the Association.
(c) The Board of Governors may delegate to the Executive Directors authority to exercise any of its powers, except the power to:
(i) admit new members and determine the conditions of their admission;
(ii) authorize additional subscriptions and determine the terms and conditions relating thereto;
(iii) suspend a member;
(iv) decide appeals from interpretations of this Agreement given by the Executive Directors;
(v) make arrangements pursuant to Section 7 of this Article to cooperate with other international organizations (other than informal arrangements of a temporary and administrative character);
(vi) decide to suspend permanently the operations of the Association and to distribute its assets;
(vii) determine the distribution of the Association's net income pursuant to Section 12 of this Article; and
(viii) approve proposed amendments to this Agreement.
(d) The Board of Governors shall hold an annual meeting and such other meetings as may be provided for by the Board of Governors or called by the Executive Directors.
(e) The annual meeting of the Board of Governors shall be held in conjunction with the annual meeting of the Board of Governors of the Bank.
(f) A quorum for any meeting of the Board of Governors shall be a majority of the Governors, exercising not less than two-thirds of the total voting power.
(g) The Association may by regulation establish a procedure whereby the Executive Directors may obtain a vote of the Governors on a specific question without calling a meeting of the Board of Governors.
(h) The Board of Governors, and the Executive Directors to the extent authorized, may adopt such rules and regulations as may be necessary or appropriate to conduct the business of the Association.
(i) Governors and Alternate Governors shall serve as such without compensation from the Association.
P/T Casual Employees will be laid off prior to part time or full time Employees in those classifications where casual Employees are employed (casual, probationary, part-time, term task, full-time). Layoffs within the part time group shall be by reverse order of seniority within a classification.
