Vote to Terminate Sample Clauses
The 'Vote to Terminate' clause establishes a process by which a group of stakeholders, such as shareholders or board members, can collectively decide to end an agreement or dissolve an entity through a formal voting procedure. Typically, this clause outlines the required majority or threshold needed for the vote to be valid, and may specify the steps for calling a meeting and notifying all relevant parties. Its core practical function is to provide a clear, democratic mechanism for early termination, ensuring that significant decisions to end a relationship or contract are made transparently and with collective agreement.
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Vote to Terminate. The Supervisory Board, by unanimous vote, has the right, upon three (3) months written notice to both parties, to terminate the Ultrio Development Program and by extension this Ultrio Addendum.
Vote to Terminate. The Supervisory Board, by unanimous vote, has the right, upon three (3) months written notice to both parties, to terminate the WNV Development Program and by extension this West Nile Virus Addendum.