Double Majority definition

Double Majority requirement means that local elections aren’t always decided by voters—they’re decided by

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Double Majority means that both of the following majorities are achieved:

Double Majority means that any decision has to be approved by a majority of member countries as well as by a majority of members’ shares in the institution. This approach gives smaller and poorer members a clearer and more effective role than does a single-majority voting approach based on members’ economic weight or financial contri- butions.

Examples of Double Majority in a sentence

• If the Coordination Committee, with the approval of a Double Majority, approves the sale of the Plant or its decommissioning, the Plant shall be sold or decommissioned.

• If a Double Majority votes in favor of the Project continuing when the Project Vote is taken then an Owner who properly withdraws under this Section 3.05(c) shall have no other obligations except those required under Sections 3.08 and 16.06, and it shall not be entitled to any refund of its Early Withdrawal Deposit.

• If a Double Majority does not vote in favor of the Project continuing when the Project Vote is taken, or if both Otter Tail and Montana-Dakota withdraw from the Project, then an Owner who withdraws during the Early Withdrawal Period shall be reimbursed its Early Withdrawal Deposit less its portion of Project Costs described in Section 3.08 and those Project Costs incurred for winding up the Project as described in Section 14.02.

More Definitions of Double Majority

Double Majority means a majority of the Coordination Committee members and not less than a majority of Ownership Shares (it being a requirement that, when an Owner votes its Ownership Shares, it must vote all of such Ownership Shares).

Double Majority means the following two step process:

Double Majority means a collection of Members which includes a majority in interest of the Class A Members and a majority in interest of the Class B Members.