Required Majority. If a quorum is present, the vote of a Majority in Interest shall be the act of the Members, unless the vote of a greater or lesser proportion or number is otherwise required by the DLLCA, by the Certificate of Formation or by this Agreement. However, the affirmative vote or consent of Members having Participation Percentages aggregating at least 80% shall be required to approve any merger involving the Company in which the Company is not the survivor, or any plan of liquidation that involves the distribution to Members of assets other than cash or cash equivalents.
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Sources: Operating Agreement (Davidson M H & Co Inc/), Operating Agreement (Stonehill Institutional Partners Lp)
Required Majority. If a quorum is present, the vote of a ------------------ Majority in Interest shall be the act of the Members, unless the vote of a greater or lesser proportion or number is otherwise required by the DLLCA, by the Certificate of Formation or by this Agreement. However, the affirmative vote or consent of Members having Participation Percentages aggregating at least 80% shall be required to approve any merger involving the Company in which the Company is not the survivor, or any plan of liquidation that involves the distribution to Members of assets other than cash or cash equivalents.
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