Majority Interest definition

Majority Interest means Notes, Trust Certificates or Securities, as the case may be, evidencing a majority of the Outstanding Amount of the related Notes, Trust Certificates or Securities, except that, except as otherwise provided in the Basic Documents, Securities owned by the Issuing Entity, the Depositor, the Servicer (so long as NMAC or an Affiliate is the Servicer) or any of their respective Affiliates will not be included in such determination for the purpose of making requests, demands, authorizations, directions, notices, consents or other action under the Basic Documents.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Majority Interest means one or more Members who in the aggregate hold more than 50% of all Membership Shares.

Majority Interest means Membership Interests in the Company entitled to more than 50% of the Sharing Ratios.

Examples of Majority Interest in a sentence

• Member(s) holding a Majority Interest shall at all times have the right to remove, with or without cause, any Manager(s).

• Except as otherwise expressly provided in this Agreement, including in Section 9.10, or required by the express provisions of the Law, the vote of a Majority Interest of the Members shall control all decisions for which the vote of the Members is required hereunder.

• Notwithstanding anything to the contrary in this Agreement, any action that may be taken at a meeting of the Members may be taken without a meeting if a consent in writing setting forth the action so taken is approved unanimously or by a Majority Interest or a Required Interest, in each case as required under this Agreement, which consent may be executed in multiple counterparts.

• Member(s) holding a Majority Interest shall be entitled to appoint the Manager(s) at each annual or special meeting of the Members, or by written consent in lieu of a meeting of the Members.

• Except as otherwise expressly provided in this Agreement, including in Section 9.10, any matter submitted to a vote of the Members hereunder shall require the approval of a Majority Interest of the Members in order to be properly approved.

More Definitions of Majority Interest

Majority Interest means, with respect to the holders of Notes, the holders of a majority of the aggregate principal balance of such Notes.

Majority Interest means the largest percentage of ownership interest.

Majority Interest means Holders holding not less than a majority in interest of the Registrable Securities held by all Holders.

Majority Interest. Ownership Percentages of Members which, taken together, constitute a majority of all Ownership Percentages.

Majority Interest means such of the Members, as shall own, at the time of any determination, more than fifty percent (50%) of all then issued and outstanding Interests.

Majority Interest means greater than 50% of the Sharing Ratios.

Majority Interest of the Members, as to any agreement, election, vote or other action of the Members, shall mean those Members whose combined Sharing Ratios exceed 50%.