Common use of Major Decisions Clause in Contracts

Major Decisions. Notwithstanding anything to the contrary in this Agreement, the Authority may not take any of the following actions without the approval of at least: (a) two- thirds (2/3) of the representatives of the Governing Board voting; and (b) representatives of the Governing Board voting that account for two-thirds (2/3) of the Broward Tonnage: 6.8.1. The sale, distribution, or transfer of any real property interest with a value of more than two million dollars ($2,000,000); 6.8.2. The issuance of bonds or the approval of a bank loan with a value of more than two million dollars ($2,000,000); 6.8.3. The recommendation to remove the Executive Director, subject to Executive Committee approval; 6.8.4. Approval of any and all special assessments; 6.8.5. The initiation or settlement of any legal action with an estimated value of more than two million dollars ($2,000,000); or 6.8.6. Assignment by the Authority of any of its rights or obligations under this Agreement.