Common use of Quorum; Vote Required Clause in Contracts

Quorum; Vote Required. The presence at a meeting, in person or by proxy, of Members owning Units representing at least a majority of votes entitled to be cast in respect of the outstanding Units entitled to vote on the subject matter of the meeting at the time of the action taken constitutes a quorum for the transaction of business required. When a quorum is present, except as otherwise expressly provided herein, the affirmative vote, in person or by proxy, of Members owning Units representing at least a majority of the votes entitled to be cast in respect of the outstanding Units entitled to vote on the subject matter shall be the act of the Members, unless the vote of a greater proportion or number or voting by classes is required by the Act or by this Agreement. If a quorum is not represented at any meeting of the Members, such meeting may be adjourned to a period not to exceed sixty (60) days at any one adjournment.

Quorum; Vote Required. The presence at a meeting, in person or by proxy, of Members owning Units representing at least a majority of votes entitled to be cast in respect of the outstanding Units entitled to vote on the subject matter of the meeting at the time of the action taken constitutes a quorum for the transaction of business required. When a quorum is present, except as otherwise expressly provided herein, the affirmative vote, in person or by proxy, of Members owning Units representing at least a majority of the votes entitled to be cast in respect of the outstanding Units entitled to vote on the subject matter shall be the act of the Members, unless the vote of a greater proportion or number or voting by classes is required by the Act or by this Agreement. If a quorum is not represented at any meeting of the Members, such meeting may be adjourned to a period not to exceed sixty (60) days at any one adjournment.adjournment.‌