Common use of Required Members Clause in Contracts

Required Members. All actions required or permitted to be taken, or consents or approvals required or permitted to be given, by the Put/Call Member(s), pursuant to this Section 12.5 shall only require the approval in writing of the taking of such action or giving of such consent or approval by Put/Call Member(s) holding a majority of the outstanding Units that are Put/Call Units held by the Put/Call Member(s). Any action, consent or approval taken or given pursuant to this Section 12.5 shall be binding on all other Put/Call Member(s).