Special Voting Sample Clauses
The Special Voting clause establishes specific rules or rights for certain shareholders or stakeholders to cast votes that carry more weight or have unique influence compared to standard voting procedures. Typically, this clause applies to holders of particular classes of shares, such as preferred stock, or to situations requiring approval of major corporate actions like mergers or amendments to governing documents. Its core practical function is to protect the interests of key parties or minority groups by granting them enhanced voting power in critical decisions, thereby ensuring their voices are adequately represented and reducing the risk of unfavorable outcomes imposed by majority rule.
Special Voting. 4.11.1 Except as provided below, matters that require Special Voting as described in this Section shall require 72 hours prior notice to any ▇▇▇▇▇ Act meeting or special meeting. Two-thirds vote (or such greater vote as required by state law) of the appointed Directors shall be required to take any action on the following:
(a) Change the designation of Treasurer or Auditor of the Authority;
(b) Issue bonds or other forms of debt;
(c) Exercise the power of eminent domain, subject to prior approval by the passage of an authorizing ordinance or other legally sufficient action by the affected Party; and
(d) Amend this Agreement or adopt or amend the bylaws of the Authority. At least 30 days advance notice shall be provided for such actions. The Authority shall also provide prompt written notice to all Parties of the action taken and enclose the adopted or modified documents.
Special Voting. 4.12.1 Except as provided below, matters that require Special Voting as described in this section shall require 72 hours prior notice to any Brown Act meeting or special meeting.
4.12.2 Two-thirds vote (or such greater vote as required by state law) of the appointed Directors shall be required to take any action on the following:
(a) Issue bonds or other forms of debt;
(b) Adding or removing Parties;
(c) Amend or terminate this Agreement or adopt or amend the bylaws of the Authority. At least 30 days advance notice shall be provided for such actions. The Authority shall also provide prompt written notice to all Parties of the action taken and enclose the adopted or modified documents; and
4.12.3 Three-Fourths Vote shall be required to initiate any action for Eminent Domain
4.12.4 Matters requiring Special Voting under the terms of this Section shall not be subject to Voting Shares Voting pursuant to Section 4.11.2, above.
Special Voting. 4.11.1 Except as provided below, matters that require Special Voting as described in this Section shall require 72 hours prior notice to any Brown Act meeting or special meeting. Two-thirds vote (or such greater vote as required by state law) of the appointed Directors shall be required to take any action on the following:
(a) Change the designation of Treasurer or Auditor of CPA;
(b) Issue bonds or other forms of debt;
(c) Exercise the power of eminent domain, subject to prior approval by the passage of an authorizing ordinance or other legally sufficient action by the affected Party; and
(d) Amend this Agreement or adopt or amend the bylaws of CPA. At least 30 days advance notice shall be provided for such actions. CPA shall also provide prompt written notice to all Parties of the action taken and enclose the adopted or modified documents.
Special Voting