Non-Unanimous Directions Sample Clauses
The Non-Unanimous Directions clause establishes the process by which decisions or instructions can be issued by a group or committee even if not all members are in agreement. Typically, this clause outlines the required threshold—such as a simple majority or supermajority—for a decision to be valid, rather than requiring unanimous consent. For example, in a board of directors setting, this clause would allow the board to act on matters even if one or more directors dissent. Its core function is to facilitate efficient decision-making and prevent deadlock situations that could arise if unanimity were always required.
Non-Unanimous Directions. If the Indenture Trustee elects to retain the Collateral under Section 5.7, then a direction to the Indenture Trustee by Noteholders of less than 100% of the Note Balance of the Controlling Class to sell or liquidate the Collateral will not be effective.