Common use of Quorum and Voting Clause in Contracts

Quorum and Voting. At all meetings of the Board of Trustees, the presence of one-third of the number of Trustees then in office shall constitute a quorum for the transaction of business; provided, however, a quorum shall not be less than the lesser of two Trustees or 100% of all Trustees then in office. In the absence of a quorum, a majority of the Trustees present may adjourn the meeting without further notice, from time to time, until a quorum shall be present. The action of a majority of the Trustees present at a meeting at which a quorum is present shall be the action of the Board of Trustees, unless the concurrence of a greater proportion is required for such action by law, by the Declaration of Trust, or by these By- Laws.

Quorum and Voting. At all meetings of the Board of TrusteesManagers, the presence of one-third of the number of Trustees Managers then in office shall constitute a quorum for the transaction of business; provided, however, a quorum shall not be less than the lesser of two Trustees Managers or 100% of all Trustees Managers then in office. In the absence of a quorum, a majority of the Trustees Managers present may adjourn the meeting without further notice, from time to time, until a quorum shall be present. The action of a majority of the Trustees Managers present at a meeting at which a quorum is present shall be the action of the Board of TrusteesManagers, unless the concurrence of a greater proportion is required for such action by law, by the Declaration of TrustOperating Agreement, or by these By- Laws.