Common use of Director Conflicts of Interest Clause in Contracts

Director Conflicts of Interest. (A) Mr. Del nor any of his affiliates will enter into any contract or transaction with DELTA unless the fact of such relationship or interest is disclosed or known to DELTA board of directors or committee which authorizes, approves or ratifies the contract or transaction and it is approved by a vote or consent sufficient for the purpose without counting the vote or consent of Mr. Del; and, if stockholder approval is required, the fact of such relationship or interest is disclosed or known to the stockholders entitled to vote and they authorize, approve or ratify such contract or transaction by vote or written consent. (B) Mr. Del may be counted in determining the presence of a quorum at a meeting of DELTA board of directors or a committee thereof which authorizes, approves or ratifies such contract or transaction.

Director Conflicts of Interest. (A) Mr. Del nor any of his affiliates will enter into any contract or transaction with DELTA TNPS unless the fact of such relationship or interest is disclosed or known to DELTA TNPS board of directors or committee which authorizes, approves or ratifies the contract or transaction and it is approved by a vote or consent sufficient for the purpose without counting the vote or consent of Mr. Del; and, if stockholder approval is required, the fact of such relationship or interest is disclosed or known to the stockholders entitled to vote and they authorize, approve or ratify such contract or transaction by vote or written consent. (B) Mr. Del may be counted in determining the presence of a quorum at a meeting of DELTA TNPS board of directors or a committee thereof which authorizes, approves or ratifies such contract or transaction.