Common use of SUPERVISORY BOARD REGULATIONS Clause in Contracts

SUPERVISORY BOARD REGULATIONS. 3.1 The internal rules of procedure of the Supervisory Board are set out in Appendix 2 to this Agreement. LBI shall not take any action to cause the Supervisory Board to make any amendment to the internal rules of procedure of the Supervisory Board which adversely affects the nomination rights of the Investor without prior written approval of the Investor. 3.2 LBI hereby confirms that each of the members of the Supervisory Board as of the date hereof has agreed to be bound by the attached internal rules of procedure of the Supervisory Board and has signed a copy thereof as his acceptance of such internal rules of procedure. 3.3 It shall be a condition for nomination of any person as a member of the Supervisory Board, whether or not an Investor nominee, that such person shall undertake to be bound by the attached internal rules of procedure of the Supervisory Board and that such person shall sign a copy thereof as his acceptance of such internal rules of procedure.