Common use of The Operating Committee Clause in Contracts

The Operating Committee. (a) The Parties hereby establish a committee (the "Operating Committee") to oversee and review the conduct of the Credit Card Business pursuant to this Agreement. The Operating Committee shall consist of six voting members and up to four non-voting members, with an equal number appointed by the Company and by Household Bank. The voting members appointed by each of the Company and Household Bank shall include its chief financial officer, general counsel and senior credit officer or other personnel of comparable rank as may from time to time be designated by it. (b) Each party shall have the right to remove or replace, consistent with Section 3.01(a), its appointees for any reason at any time and to fill any vacancy with respect to any of its appointees, whether due to death, resignation or cessation of employment with the appointing party. (c) The Operating Committee may appoint one or more subcommittees and special committees to assume specific responsibilities. Special committee members need not be members of the Operating Committee.

The Operating Committee. (a) The Parties hereby establish a committee (the "“Operating Committee"”) to oversee and review the conduct of the Credit Card Business pursuant to this Agreement. The Operating Committee shall consist of six voting members and up to four non-voting members, with an equal number appointed by the Company and by Household Bank. The voting members appointed by each of the Company and Household Bank shall include its chief financial officer, general counsel and senior credit officer or other personnel of comparable rank as may from time to time be designated by it. (b) Each party shall have the right to remove or replace, consistent with Section 3.01(a), its appointees for any reason at any time and to fill any vacancy with respect to any of its appointees, whether due to death, resignation or cessation of employment with the appointing party. (c) The Operating Committee may appoint one or more subcommittees and special committees to assume specific responsibilities. Special committee members need not be members of the Operating Committee.