Several Administrators Sample Clauses
The 'Several Administrators' clause defines the rights and responsibilities when more than one administrator is appointed to manage an agreement or estate. It typically outlines how decisions are made collectively or individually, clarifies whether administrators must act jointly or can act independently, and may specify procedures for resolving disagreements among them. This clause ensures smooth administration by preventing confusion or disputes over authority, thereby promoting efficient management and reducing the risk of conflicting actions.
Several Administrators. Where several creditors are involved, the parties hereto waive the application of articles 1332 to 1338 inclusively of the Civil Code.
Several Administrators. Where several administrators are involved hereunder, the parties, to the greatest extent permitted by applicable law, waive the application of sections 1332 to 1338 inclusively of the Civil Code of Quebec.