Committee Approval definition

Committee Approval means: (i) in respect of the Operating Committee, the approval of the Operating Committee by simple majority or two-thirds majority vote of its members, as may be applicable, in accordance with the terms and conditions of Section V.B; and (ii) in respect of the Technical Committee, the approval of the Technical Committee by simple majority vote of its members in accordance with the terms and conditions of Section V.C.

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Committee Approval has the meaning given to it in Section 2.2.

Committee Approval means allocation of a budget as set out in the Budget Book or as amended by any virement in line with Financial Rules through Committee,

Examples of Committee Approval in a sentence

• If any of the matters set out in clause 7.1 are expressly contemplated in, or proposed to be undertaken by, the Company in the then current Statement of Intent, then the Company may undertake that matter or those matters without having to obtain Joint Committee Approval.

• For avoidance of doubt and notwithstanding anything to the contrary herein, no matter may be approved and no action taken by the Management Committee without Required Committee Approval.

• For the avoidance of doubt, the matters requiring Joint Committee Approval under clause 7.1 are in addition to, and not in substitution for, the major transaction provisions under section 129 of the Companies Act.

• Notwithstanding the foregoing, the Board shall not have the power and authority to delegate any rights or powers (i) requiring Board Approval, Investment Committee Approval or otherwise requiring the approval of the Members or (ii) customarily requiring the approval of the managing member of a Delaware limited liability company.

• The obligation to obtain Joint Committee Approval under clause 7.1 shall, in the event that the Company has any interest in any Subsidiary, be deemed to apply to the business or actions taken by any such Subsidiary as well as by the Company as if references to the Company were also references to each and every Subsidiary.

• Any amendments to the Administration Agreement shall require Prior Committee Approval.

• Unless waived by the Members (with Prior Committee Approval), the Company also shall withhold five percent (5%) of distributions in any calendar year, which withheld amount shall be distributed within sixty (60) days after the completion of the annual audit covering such fiscal period ended with or within such calendar year.

• The obligations of Purchaser under this Agreement are contingent upon obtaining the approval of its partnership committee ("Committee Approval").

• Notwithstanding any other provision of this Agreement, any contract, instrument or act on behalf of the Company by an officer or any other Person delegated by Prior Committee Approval shall be conclusive evidence in favor of any third party dealing with the Company that such Person has the authority, power and right to execute and deliver such contract or instrument and to take such act on behalf of the Company.

• This Section shall not be deemed to limit the liabilities and obligations of the Person to seek Board Approval or Prior Investment Committee Approval as set forth in this Agreement.

More Definitions of Committee Approval

Committee Approval means the approval of Buyer's Business Investment Committee of the terms of this Agreement and the transactions contemplated hereby.

Committee Approval means the approval of the Company’s Board of Directors or finance committee following the Shareholder Approval to issue the Ordinary Shares upon conversion of the Tranche 1 Notes and to enter the relevant allottees in the register of members.

Committee Approval has the meaning set forth in Section 3.10.

Committee Approval means the approval of contract spend or an associated contractual matter by the appropriate Council Committee.

Committee Approval. The issuance of any Commitment Letter or any other undertaking or obligation of Lender to make the Loan is subject to, among other things, the approval of its loan/credit committee. Additional Conditions: 1) Business Plan - Borrower shall submit its Business Plan, which is the financial and operating projections and business objectives for the Property during the term of the Loan. The Business Plan shall include three years of historical operating statements if available, the most recent operating statement, and proforma operating statements for the 10 years looking forward, including at the time of projected stabilization, at the end of the Initial Loan Term. The Business Plan shall also include the proposed budget for tenant improvements, leasing commissions, deferred Property maintenance and interior and exterior capital improvements including, if applicable, any proposed expansion of, or addition to, the Property. The Business Plan shall contain a brief, bullet point discussion of the steps Borrower will implement to take the Property from Loan closing to stabilization. The Loan is specifically subject to the Lender's approval of the Borrower's Business Plan in Lender's sole discretion, not to be unreasonably withheld.