Examples of Majority Interest in a sentence
Meetings of the Members may be called by the Board or the Members holding a Majority Interest and shall be held upon not less than two (2) Business Days nor more than sixty (60) days’ prior written notice of the time and place of such meeting delivered to each holder of Voting Units in the manner provided in Section 14.2. Notice of any meeting may be waived by any Member before or after any meeting.
For any meeting of the Members, the presence in person or by proxy of the Members owning Voting Units representing at least a Majority Interest shall constitute a quorum for the transaction of any business.
With respect to any matter, other than a matter for which the affirmative vote of the holders of a specified portion of Members entitled to vote is required by the nonwaivable provisions of the Act (if any) or by this Agreement (including in Section 4.10), the affirmative vote of the Members holding a Majority Interest at a meeting of Members at which a quorum is present shall be the act of the Members.
The Manager may be paid such fees as approved from time to time by a Majority Interest of Members.