MAJOR ACT definition
MAJOR ACT means any decision of the Company (or any Person owned or controlled by the Company) to:
a) sell, exchange, or otherwise dispose of, grant any purchase rights, rights of first refusal to purchase or to approve any offer to purchase or exchange the Property or any material portion thereof or to lease all or substantially all of the Property in a single transaction;
b) admit any new or additional members or partners;
c) amend this Agreement or the Certificate;
d) mortgage, pledge or otherwise encumber all or any material part of or interest in the Property other than pursuant to Leases entered into in accordance with the approved Leasing Program;
e) merge or consolidate with any other Person;
MAJOR ACT means any major legislation that has been effected as law;