Common use of Majorities Clause in Contracts

Majorities. The partners will, represented by the majority, govern the operations of the Company. All partners, including the dissidents and the absent, will remain subject to the agreement of the Board, bearing in mind the right of partnership separation which will remain valid whenever applicable. Majority will occur when a number of partners representing 55% of the capital stock vote in favor of the agreement, with the exception of the events mentioned in the following paragraph and the applicable legislation. Notwithstanding the above, in order to increase or decrease the capital stock of the Company, extend, merge, transform, break-up or liquidate the Company, waive the first refusal right for cases of increase in the capital stock, partner exclusion, waiver of non-compete prohibitions for the administrators, by-laws' modifications and in any other instances as required by law, a vote representing at least 80% of the capital stock will be required. A majority of valid votes representing at least a third of the capital stock of the Company will suffice to determine the enforcement of a responsibility action against the administrators of the Company.

Majorities. The partners will, represented by the majority, will govern the operations of the Company. All partners, including the dissidents and the absent, will remain subject to the agreement of the Board, bearing in mind the right of partnership separation which will remain valid whenever applicable. Majority will occur when a number of partners representing 5560% of the capital stock vote in favor of the agreement, with the exception of the events mentioned in the following paragraph and the applicable legislation. Notwithstanding the above, in order to increase or decrease the capital stock of the Company, extend, merge, transform, break-up or liquidate the Company, waive the first refusal right for cases of increase in the capital stock, partner exclusion, waiver of non-compete prohibitions for the administrators, by-laws' modifications and in any other instances as required by law, a vote representing at least 8075% of the capital stock will be required. A majority of valid votes representing at least a third of the capital stock of the Company will suffice to determine the enforcement of a responsibility action against the administrators of the Company.