Common use of Majority Vote Clause in Contracts

Majority Vote. At any GA, each Active Member, which is not suspended, shall be entitled to vote, and shall vote with a number of votes proportional to the following: i. If the number of the Active Members is less or equal to 6, each Active Member shall have one vote. ii. If the number of the Active Members exceeds 6 or if otherwise agreed at the GA, each Active Member shall have a proportional vote equal to that Active Member’s gross TEU capacity share (as published by ▇▇▇▇▇▇▇▇▇▇.▇▇▇) of the total amount of the Active Members’ gross TEU capacity, provided however that each Active Member shall have at least one vote. Capacity share and voting rights shall be calculated at the beginning of each calendar year and when one or more Active Members is admitted to or withdrawn from or expelled from DCSA. Unless otherwise stipulated herein, the GA shall adopt its resolutions by a 2/3 majority of the votes cast of those registered and present at the meeting. If the GA resolves to approve a proposed project, the contributions for such project shall also apply to those Active Members who voted “against” such resolution.

Majority Vote. At any GA, each Active Member, which is not suspended, Member shall be entitled to vote, and shall vote with a number of votes proportional to the following: i. If the number of the Active Members is less or equal to 6, each Active Member shall have one vote. ii. If the number of the Active Members exceeds 6 or if otherwise agreed at the GA, each Active Member shall have a proportional vote equal to that Active Member’s gross TEU capacity share (as published by ▇▇▇▇▇▇▇▇▇▇.▇▇▇) of the total amount of the Active Members’ gross TEU capacity, provided however that each Active Member shall have at least one vote. Capacity share and voting rights shall be calculated at the beginning of each calendar year and when one or more Active Members is admitted to or withdrawn from or expelled from DCSA. Unless otherwise stipulated herein, the GA shall adopt its resolutions by a 2/3 majority of the votes cast of those registered and present at the meeting. If the GA resolves to approve a proposed project, the contributions for such project shall also apply to those Active Members who voted “against” such resolution.

Majority Vote. At any GA, each Active Member, which is not suspended, shall be entitled to vote, and shall vote with a number of votes proportional to the following: i. If the number of the Active Members is less or equal to 6, each Active Member shall have one vote. ii. If the number of the Active Members exceeds 6 or if otherwise agreed at the GA, each Active Member shall have a proportional vote equal to that Active Member’s gross TEU capacity share (as published by ▇▇▇▇▇▇▇▇▇▇.▇▇▇▇ in the year the vote is held) of divided by the total amount of the Active Members’ gross TEU capacity, provided however that each Active Member capacity (as published by ▇▇▇▇▇▇▇▇▇▇.▇▇▇ in the year the vote is held). Voting on the annual corporate budget and annual membership fee shall have at least one vote. Capacity share and voting rights shall always be calculated at the beginning of each calendar year and when one or more Active Members is admitted to or withdrawn from or expelled from DCSAconducted in accordance with sub-paragraph (ii) above. Unless otherwise stipulated herein, the GA shall adopt its resolutions by a 2/3 majority of the votes cast of those registered and present at the meeting. If the GA resolves to approve a proposed project, the contributions for such project shall also apply to those Active Members who voted “against” such resolution.