Common use of Actions by Consent Clause in Contracts

Actions by Consent. Subject to applicable laws and regulations, any action required or permitted to be taken at any meeting of the Board of Trustees or of any committee thereof may be taken without a meeting, if a written or electronic consent to such action is signed by all members of the Board of Trustees or of such committee, as the case may be, and such consent is filed with the minutes of proceedings of the Board of Trustees or committee.