Contracts, deeds, and loans. All contracts, deeds, mortgages, pledges, promissory notes, transfers and other written instruments binding upon the System are to be executed on behalf of the System by the Chairman of the Board of Managers and must be ratified by the governing authorities of each Contributing Subscriber. The Chairman shall be authorized to execute such instruments only upon approval of the Board of Managers and ratification by each Contributing Subscriber, pursuant to authority granted by this Agreement, or by such other persons or agents as the Board of Managers may designate from time to time.
Appears in 2 contracts
Sources: Intergovernmental Agreement, Intergovernmental Agreement