Common use of Principal Membership Clause in Contracts

Principal Membership. a) Principal members are fully invested in the extension and longevity of the IFC Schema and its supporting tools and technology for implementation by vendors on building and infrastructure projects. This membership category aligns financial support and in-kind resources to contribute directly to the creation and sustainability of international open standards. b) Principal Members have (i) full voting membership rights on the Standards Committee with each Principal Member having 1 (one) vote; (ii) voting rights in the Standards Committee Technical Executive through an appropriate expert and (iii) membership rights in 1 (one) Chapter.

Principal Membership. a) Principal members are fully invested in the extension and longevity of the IFC Schema and its supporting tools and technology for implementation by vendors on building and infrastructure projects. This membership category aligns financial support and in-kind resources to contribute directly to the creation and sustainability of international open standards. b) Principal Members have (i) full voting membership rights on the Standards Committee with each Principal Strategic Member having 1 (one) votevotes; (ii) voting rights in the Standards Committee Technical Executive through an appropriate expert and (iii) membership rights in 1 (one) Chapter.