Common use of Quorum and Vote Required Clause in Contracts

Quorum and Vote Required. At any meeting of Beneficiaries, the presence of Beneficiaries having an aggregate Beneficial Interest sufficient to take action on any matter for the transaction of which such meeting was called shall be necessary to constitute a quorum; but if less than a quorum be present, Beneficiaries having an aggregate Beneficial Interest of more than 50% of the aggregate Beneficial Interest of all Beneficiaries represented at the meeting may adjourn such meeting with the same effect and for all intents and purposes as though a quorum had been present. Except to the extent a higher percentage is specified for a particular matter or is required by law, the approval of Beneficiaries having an aggregate Beneficial Interest of more than 50% of the aggregate Beneficial Interest of all Beneficiaries shall be required for taking action on any matter voted on by the Beneficiaries.

Quorum and Vote Required. At any meeting of Beneficiaries, the presence of Beneficiaries having an aggregate Beneficial Interest Interests sufficient to take action on any matter for the transaction of which such meeting was called shall be necessary to constitute a quorum; but if less than a quorum be present, Beneficiaries having an aggregate Beneficial Interest Interests of more than 50% of the aggregate Beneficial Interest Interests of all Beneficiaries present in person or represented at the meeting may adjourn such meeting with the same effect and for all intents and purposes as though a quorum had been present. Except to the extent a higher different percentage is specified in this Agreement for a particular matter or is required by law, the approval of Beneficiaries having an aggregate Beneficial Interest Interests of more than 50% of the aggregate Beneficial Interest Interests of all Beneficiaries shall be required for taking action on any matter voted on by the Beneficiaries.