Common use of Senior Management and Board of Directors Clause in Contracts

Senior Management and Board of Directors. No Party shall require that a juridical person of that Party that is a covered investment appoint to a senior management position a natural person of any particular nationality. A Party may require that a majority of the board of directors, or any committee thereof, of a juridical person of that Party that is a covered investment, be of a particular nationality or resident in the territory of that Party, provided that the requirement does not materially impair the ability of the investor to exercise control over its investment.

Senior Management and Board of Directors. 1. No Party shall require that a juridical person an enterprise of that Party that is a covered investment appoint to a senior management position or board of director positions natural persons of a natural person of any particular nationality. 2. A Party may require that a majority of the board of directors, or any committee thereof, of a juridical person an enterprise of that Party that is a covered investment, be of a particular nationality or resident in the territory of that the Party, provided that the requirement does not materially impair the ability of the investor to exercise control over its investment.