Common use of Officers as Agents Clause in Contracts

Officers as Agents. The Officers, to the extent of the powers delegated to them by the Executive Committee, are agents of the Company for the purpose of the Company’s business and the actions of the Officers taken in accordance with such powers shall bind the Company. Notwithstanding anything to the contrary in this Agreement, so long as the NSAM Designation Threshold is met, no Officer shall be authorized to take any action that constitutes a Major Matter without the consent of the NSAM Designees pursuant to the terms of this Article V.