Examples of Super Majority in Interest in a sentence
Section 5.4 of the LPA provides that, absent “for cause” removal, “a General Partner may not be removed unless there is at least one remaining General Partner.”49 And Section 5.3 provides that the addition of a new general partner requires the consent of the existing general partner(s) and the consent of a Super Majority in Interest of the Limited Partners.
Such appointment shall continue until revoked in writing by a Super Majority in Interest, at which time a Super Majority in Interest shall appoint a new the Agent.
If agreed to by a Super Majority in Interest of the Members, each Member (and Assignee) shall, upon the written request of the Managers, make additional Capital Contributions to the Company equal to the total amount of additional Capital Contributions required times such Member’s (or Assignee’s) then Percentage Interest.
No change or amendment shall be made to this Agreement, unless approved by a Super Majority in Interest of the Board, as defined in the Holding Charter, and except by an instrument in writing signed on behalf of each of the parties to such agreement.
A Super Majority in Interest of the Managers may expel any Member of the Company, provided that the Company exercises its right to purchase.