Majority Voting Sample Clauses

Majority Voting. Each Director shall be entitled to one vote. On all matters requiring the vote or action of the Board of Directors, any action undertaken by the Board of Directors must be authorized by the affirmative vote of at least a majority of the Directors at any meeting at which a quorum is present.

Majority Voting. When a quorum is present at any meeting, the vote of the holders of a majority of the stock having voting power present in person or represented by proxy shall decide any question brought before such meeting, unless the question is one upon which by express provision of the statutes or of the Certificate of Incorporation, a different vote is required in which case such express provision shall govern and control the decision of such question.

Majority Voting. Majority voting shall be (60 % or more). All material actions of the corporation shall require the Majority vote (60 % or more) of Common Stock. Majority Voting (60 % or more) or a qualified majority is the preset threshold value. Unless otherwise required by securities regulatory reporting requirement, the company shall not solicit or required to provide further notice, nor include minority resolutions, or voting proxies . A qualified majority shall be utilized for critical corporate decisions. Cumulative voting in the election for directors is NOT authorized. 5.

Majority Voting. Notwithstanding the provisions of Section 9.1, an amendment or repeal of provisions in an Article or section identified in Section 9.1 that is approved by a majority of the Continuing Directors (as defined below), voting separately and as a subclass of directors, shall require the affirmative vote of the holders of not less than a majority of all the votes entitled to be cast thereon by the shareholders of this corporation, voting together as a single voting group.

Majority Voting. Within 30 calendar days of the Effective Date, the Board will amend the Company’s bylaws with respect to director elections each year, to provide for a majority vote instead of a plurality vote, except in the event of a contested board seat. If, with respect to an election of directors not constituting a contested election and for which a quorum is present, any incumbent director does not receive a majority of the votes cast, following certification of the stockholder vote, the independent members of the Board will promptly address whether such director should tender his or her resignation from the Board, if the size of the Board should be reduced (subject to the provisions of the Term Sheet), or if some other action should be taken as determined by the majority vote of the independent directors.

Majority Voting. Except as otherwise specifically provided herein all voting with respect to the Shares shall be at the direction of “a majority in interest of the Stockholders” (defined below) in accordance with this Section 2. For purposes of this Agreement and unless otherwise provided for herein, with respect to any voting of the Shares requiring the direction or vote of a majority in interest of the Stockholders, each Stockholder (whether an individual or an entity) shall be entitled to one vote for each Share subject to this Agreement; provided, however, that if any Shares are entitled to more or less than one vote per Share in any matter to be voted on at a Company Stockholders Meeting, then for purposes of any vote taken hereunder with respect to such matter, such Shares shall have the same voting entitlement under this Agreement. For purposes of this Agreement, a “majority in interest of the Stockholders” shall mean Stockholders holding greater than fifty percent (50%) of all Shares that are actually voted pursuant to this Agreement at a Stockholders Meeting (defined below) or at any other meeting of the Stockholders hereunder in person or by proxy by the Stockholders, or if any such Shares are entitled to more or less than one vote per Share in any matter to be voted on at a Company Stockholders Meeting, then for purposes of any vote taken hereunder with respect to such matter, a “majority in interest of the Stockholders" shall mean Stockholders holding greater than fifty percent (50%) of the votes that are actually voted pursuant to this Agreement at a Stockholders Meeting in person or by proxy by the Stockholders. When so voting or directing the manner in which the Shares shall be voted, Stockholders may vote at a Stockholders Meeting or at any other meeting of the Stockholders hereunder by written proxy. Stockholders may also participate in and vote at a Stockholders Meeting or at any other meeting of the Stockholders hereunder by means of conference telephone or similar communications equipment whereby all Stockholders participating in such meeting can hear one another, and such participation shall constitute presence in person at any such meeting. In addition, any action that may be taken hereunder by a majority in interest of the Stockholders at a Stockholders Meeting or at any other meeting of the Stockholders hereunder may be taken without a meeting upon the express written consent of all Stockholders.

Majority Voting. The following actions will require the approval of the Members holding at least fifty-one percent (51%) of the outstanding Membership Units excluding outstanding Class B-3 Membership Units: (a) any sale, lease, or other disposition of, all or substantially all of the assets of New HoldCo; (b) purchase, lease, exchange, or otherwise acquire securities or assets of any other person (other than a Reorganized Debtor or any wholly owned subsidiary of New HoldCo or any Reorganized Debtor), involving aggregate consideration paid by New HoldCo or its subsidiaries (including by way of assumption of liabilities) in excess of $5,000,000; (c) merge, consolidate with or into, engage in a share exchange with, or otherwise consummate any business combination transaction with, any other person (other than transactions solely involving the merger or consolidation of a wholly owned subsidiary of New HoldCo with or into, or a share exchange by a wholly owned subsidiary of New HoldCo with, New HoldCo or another wholly owned subsidiary of New HoldCo); (d) commence any proceeding or file any petition seeking relief under any insolvency law, consent to the institution of or fail to contest in a timely and appropriate manner any such proceeding or filing under any insolvency law, apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator, or similar official for New HoldCo or any of its subsidiaries or assets; initiate or take any action for the liquidation, dissolution or winding up of New HoldCo or any of its subsidiaries; make a general assignment for the benefit of creditors; or take or authorize the taking of any action for the purpose of effecting any of the foregoing; or (e) cause Reorganized LPL or any of its subsidiaries to do any of the foregoing.

Majority Voting. In the event any Investor Designee is required to submit his or her resignation to the Chairman of the Board for consideration by the Nominating/Corporate Governance Committee pursuant to the Board’s policy on majority voting, the Nominating/Corporate Governance Committee makes a recommendation to the Board concerning the acceptance or rejection of such resignation and the Board decides to accept such Investor Designee’s resignation, then (i) the Board shall not reduce the size of the Board to eliminate the vacancy created thereby, (ii) the Investor shall have the right to designate a replacement Investor Designee, and (iii) the Board and the Investor Group shall take such actions necessary to appoint such replacement Investor Designee as a director to fill such vacancy; provided, however, that the replacement Investor Designee is an Independent Director and reasonably acceptable to the Nominating/Corporate Governance Committee of the Board.

Majority Voting. The Company shall amend its By-Laws to provide for the following: