Common use of Requisite Majority Clause in Contracts

Requisite Majority. The Shareholders shall determine all matters by way of simple majority unless otherwise provided for herein or required by any law or regulation applicable to the Company, in which case the matter shall be determined in the manner so provided for or required by such applicable law or regulation; provided, that all actions by Shareholders shall require the affirmative vote of Party A and Party B. The chairman of the meeting shall not have a second or casting vote. A resolution in writing signed by the authorised representative(s) of all Shareholders or by signed facsimile of their signatures shall be valid and effective for all purposes as if passed at a duly convened meeting of the Shareholders. Any such resolution may consist of one or several documents in like form, each signed or authenticated for and on behalf of one or more of the Shareholders.

Requisite Majority. The Shareholders shall determine all matters by way of simple majority unless otherwise provided for herein or required by any law or regulation applicable to the Company, in which case the matter shall be determined in the manner so provided for or required by such applicable law or regulation; provided, that all actions by Shareholders shall require the affirmative vote of Party Shareholder A and Party Shareholder B. The chairman of the meeting shall not have a second or casting vote. A resolution in writing signed by the authorised representative(s) of all Shareholders or by signed facsimile of their signatures shall be valid and effective for all purposes as if passed at a duly convened meeting of the Shareholders. Any such resolution may consist of one or several documents in like form, each signed or authenticated for and on behalf of one or more of the Shareholders.