Common use of Approval Requirements Clause in Contracts

Approval Requirements. Subject to Section 6.4.1 (relating --------------------- to Major Decisions), consent or approval of the Board of Directors or its committees shall mean the affirmative vote of a majority of the votes of the members of the Board of Directors or such committees present in person or by telephone, as applicable, and voting at a duly held meeting of the Board of Directors or its committees.

Appears in 2 contracts

Samples: Petro Holdings Financial Corp, Petro Stopping Centers L P

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Approval Requirements. Subject to Section 6.4.1 (relating --------------------- to Major Decisions), consent or approval of the Board of Directors or its committees shall mean the affirmative vote of a majority of the votes of the members of the Board of Directors or such committees present in person or by telephone, as applicable, and voting at a duly held meeting of the Board of Directors or its committees.

Appears in 1 contract

Samples: Limited Partnership Agreement (Petro, Inc.)

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Approval Requirements. Subject to Section 6.4.1 6.6.1 (relating --------------------- to Major Decisionsmajor decisions), consent or approval of the Board of Directors or its committees shall mean the affirmative vote of a majority of the votes of the members of the Board of Directors or such committees present in person or by telephone, as applicable, and voting at a duly held meeting of the Board of Directors or its committees.

Appears in 1 contract

Samples: Limited Partnership Agreement (Petro Stopping Centers L P)

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