Common use of Quorum; Majority Vote Clause in Contracts

Quorum; Majority Vote. At all meetings of the Board of Managers, 5 persons of a 7-person Board or 6 persons of a 9-person Board of Managers, shall constitute a quorum for the transaction of business. The act of a majority of the Managers present at any meeting at which a quorum is present shall be the act of the Board of Managers unless the act of a greater number, or the act of Managers elected by certain Classes is required by this Operating Agreement. If a quorum shall not be present at any meeting of the Board of Managers, the Managers present thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum is present.

Quorum; Majority Vote. At all meetings of the Board of Managers, 5 six (6) persons of a 7-person Board or 6 persons of a 9-person nine (9)-person Board of Managers, Managers shall constitute a quorum for the transaction of business. The act of a majority of the Managers present at any meeting at which a quorum is present shall be the act of the Board of Managers unless the act of a greater number, or the act of Managers elected by certain Classes is required by this Operating Agreement. If a quorum shall not be present at any meeting of the Board of Managers, the Managers present thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum is present.