Common use of Majority Consent Clause in Contracts

Majority Consent. The affirmative vote or written consent of Partners owning fifty-one percent (51%) or more of all outstanding Units, including any Units held by the Managing Partner or its Affiliates, calculated as of a date within thirty (30) days of the date such determination is effective. Unit Holders who have not been admitted as Partners shall not be entitled to vote for the purpose of determining a Majority Consent.

Appears in 3 contracts

Sources: Agreement of Limited Partnership (White River Energy Corp.), Limited Partnership Agreement (White River Energy Corp.), Agreement of Limited Partnership (White River Energy Corp.)