Common use of Actions by Majority Vote Clause in Contracts

Actions by Majority Vote. Unless otherwise specified herein, any action required or permitted to be taken by the Claimants Representative Committee pursuant to this MCC Settlement Trust Agreement shall be taken by the affirmative vote at a meeting or by written consent of not less than a majority of the Claimants Representative Committee. If the Claimants Representative Committee is deadlocked on any vote, the Active Trustee shall cast the tie breaking vote and such determination shall be final. The Claimants Representative Committee shall meet at such times and places as the Claimants Representative Committee deems necessary or appropriate. The Claimants Representative Committee may delegate any of their powers or duties to an individual Claimants Representative Committee Member or a subcommittee of the Claimants Representative Committee, as the Claimants Representative Committee deems necessary or appropriate. In carrying out any of the powers or duties delegated to them, such officers, employees, professionals, agents and representatives shall be entitled to the same rights, claims and protections as the Claimants Representative Committee would have had with respect thereto.