Special Approval definition

Special Approval means approval by a majority of the members of the Conflicts Committee.

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Special Approval has the meaning assigned to such term in the MLP Agreement.

Special Approval is defined in the Partnership Agreement.

Examples of Special Approval in a sentence

• The Board shall be authorized, but not required, in connection with its resolution of such conflict of interest to seek Special Approval of such resolution, and the Board may also adopt a resolution or course of action that has not received Special Approval.

• If Special Approval is sought, any such determination, action or omission by the Board or any committee thereof, as applicable (including the determination to seek Special Approval), will for all purposes be presumed to have been in Good Faith and, in any proceeding brought by or on behalf of any Member or the Company challenging such approval, the Person bringing or prosecuting such proceeding shall have the burden of proving that such determination, action or omission was not in Good Faith.

More Definitions of Special Approval

Special Approval means approval by a majority of the members of the Audit Committee.

Special Approval means approval by a majority of the members of the Special Committee.

Special Approval means approval by the Audit Committee.

Special Approval means either (a) approval by a majority of the members of the Conflicts Committee or, if there is only one member of the Conflicts Committee, approval by the sole member of the Conflicts Committee, or (b) approval by the vote of the Record Holders representing a majority of the voting power of the Voting Units (excluding Voting Units owned by the General Partner and its Affiliates).

Special Approval means, with respect to any transaction, activity, arrangement or circumstance, that (i) it has been specifically approved by a majority of the members of the Conflicts Committee acting in good faith, or (ii) it complies with any rules or guidelines established by the Conflicts Committee with respect to categories of transactions, activities, arrangements or circumstances that are deemed approved by the Conflicts Committee.

Special Approval means approval by a majority of the Independent Directors, which may include the approval of the Audit Committee.

Special Approval means approval by a majority of the members of the Conflicts Committee, provided that at the time of such approval all of the material facts known to the General Partner or any of its Affiliates regarding the proposed transaction in respect of which such approval is given were fully disclosed to or otherwise known by the Conflicts Committee.