Common use of A Majority Clause in Contracts

A Majority. In-Interest of the Initial Shareholders, represented in person or by proxy, shall constitute a quorum at any meeting of Initial Shareholders. In the absence of a quorum at any such meeting, a majority of the Interests so represented may adjourn the meeting from time to time for a period not to exceed 60 days without further notice. However, if the adjournment is for more than 60 days, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each Initial Shareholder of record entitled to vote at a meeting.