Transaction of Business. No business shall be transacted at any time by the Owners’ Committee unless a quorum is present when the meeting proceeds to business and 50% of the members of the Owners’ Committee (rounded up to the nearest whole number) or 3 such members, whichever is the greater, shall be a quorum. If within half an hour for the time appointed for the meeting a quorum is not present, the meeting if convened upon the requisition of members of the Owners’ Committee, shall be dissolved; if convened by the Manager, it shall stand adjourned to the same day in the next week at the same time and place, and, if at the adjourned meeting a quorum is not present within half an hour from the time appointed for the meeting, the members of the Owners’ Committee present shall be a quorum.
Appears in 6 contracts
Samples: And Management Agreement, Management Agreement, And Management Agreement
