eSpeed and XX0x Sample Clauses

eSpeed and XX0x xxx shall establish a Compliance Committee (the "Compliance Committee") to be comprised of four members. eSpeed shall designate, in its sole discretion, two members to the Compliance Committee, and XX0x.xxx shall designate, in its sole discretion, two members to such Compliance Committee (provided that XX0x.xxx's designees shall be full-time employees of XX0x.xxx or of any of its wholly-owned subsidiaries, ultimate parent entities or wholly-owned subsidiaries of any of its ultimate parent entities). The act of a majority vote of the members of the Compliance Committee shall be the act of the Compliance Committee. The Compliance Committee shall meet promptly after notice is provided by XX0x.xxx to each member of the Compliance Committee of eSpeed's failure to meet a service level that are agreed to from time to time in accordance with Section 3.1.2 ("Service Level") by giving notice at least seven days prior to the meeting date. Any other meeting of the Compliance Committee may be called by any member of the Compliance Committee by giving notice to all of the members at least seven days prior to the meeting date. Members of the Compliance Committee may participate in a meeting by means of telephone if all persons participating in the meeting can hear each other at the same time. Written minutes shall be kept of all meetings of the Compliance Committee.
Sample 1

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