Common use of Action by Written Consent Without a Meeting Clause in Contracts

Action by Written Consent Without a Meeting. Unless otherwise restricted by this Agreement, any action required or permitted to be taken at any meeting of the Management Committee may be taken without a meeting if those Managers having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting consent thereto in writing and all Managers receive notice of such action proposed to be taken not less than two (2) business days prior nor more than thirty (30) days prior to the taking of such action (it being agreed that the failure to provide such notice shall not constitute a material breach of or default under this Agreement), and the writing or writings are filed with the minutes of the Management Committee and given to the Members promptly after the meeting.