The Supervisory Committee Clause Samples
The Supervisory Committee. (a) shall be composed of representatives of the Parties;
(b) shall be co-chaired by Ministers or senior officials of the Parties as may be delegated by them for this purpose; and
(c) may establish and delegate responsibilities to working groups.
The Supervisory Committee. (a) Except as otherwise expressly provided in this Agreement, the business and affairs of the Joint Venture shall be managed under the direction of a four member supervisory committee (the "SUPERVISORY COMMITTEE"), an equal number of the members of which (the "SUPERVISORY COMMITTEE MEMBERS") shall be appointed by the Tioxide Partner on the one hand and by the Kronos Partner on the other. Set forth on Schedule 7.01(a) are the names of the four initial Supervisory Committee Members.
(b) With respect to each Fiscal Year of the Joint Venture, one Supervisory Committee Member shall be appointed Chairman and another Secretary. Set forth on Schedule 7.01(b) are the names of the initial Chairman and Secretary who shall serve until April 15, 1994. With respect to the period commencing April 16, 1994 and ending December 31, 1994, and for each Fiscal Year of the Joint Venture thereafter, the Chairman and the Secretary for such Fiscal Year shall be appointed by the respective Partner which did not appoint such officer the prior period or year.
(c) Unless granted additional powers by the Supervisory Committee, the Chairman's sole duty as Chairman shall be to chair meetings of the Supervisory Committee and the Secretary's sole duties as Secretary shall be to provide notices of and record the proceedings of Supervisory Committee meetings.