Common use of Quorum and Action Clause in Contracts

Quorum and Action. (a) The Trustees shall set forth in the Bylaws the quorum required for the transaction of business by the Shareholders at a meeting, which quorum shall in no event be less than Shares representing thirty percent (30%) of the voting power of the Shares entitled to vote at such meeting. If a quorum is present when a duly called and held meeting is convened, the Shareholders present may continue to transact business until adjournment, even though the withdrawal of a number of Shareholders originally present leaves less than the proportion or number otherwise required for a quorum. (b) The Shareholders shall take action by the affirmative vote of the holders of Shares entitled to vote and representing a majority of votes cast at a meeting of Shareholders at which a quorum is present, except in the case of the election of Trustees which shall only require a plurality and except as may be otherwise required by applicable law or any provision of this Declaration or the Bylaws.

Quorum and Action. (a) The Trustees shall set forth in the Bylaws the quorum required for the transaction of business by the Shareholders at a meeting, which quorum shall in no event be less than Shares representing thirty the holders of thirty-three and one-third percent (3033 1/3%) of the voting power of the Shares entitled to vote at such meeting. If a quorum is present when a duly called and held meeting is convened, the Shareholders present may continue to transact business until adjournment, even though the withdrawal of a number of Shareholders originally present leaves less than the proportion or number otherwise required for a quorum. (b) The Shareholders shall take action by the affirmative vote of the holders of Shares entitled to vote and representing a majority majority, except in the case of the election of Trustees which shall only require a plurality, of votes cast at a meeting of Shareholders at which a quorum is present, except in the case of the election of Trustees which shall only require a plurality and except as may be otherwise required by applicable law or any provision of this Declaration or the Bylaws.

Quorum and Action. (a) The Trustees shall set forth in the Bylaws the quorum required for the transaction of business by the Shareholders Holders at a meeting, which quorum shall in no event be less than Shares Interests representing thirty percent (30%) of the voting power of the Shares Interests entitled to vote at such meeting. If a quorum is present when a duly called and held meeting is convened, the Shareholders Holders present may continue to transact business until adjournment, even though the withdrawal of a number of Shareholders Holders originally present leaves less than the proportion or number otherwise required for a quorum. (b) The Shareholders Holders shall take action by the affirmative vote of the holders of Shares entitled to vote and Holders representing a majority of votes cast at a meeting of Shareholders Holders at which a quorum is present, except in the case of the election of Trustees which shall only require a plurality of votes cast at a meeting of Holders at which a quorum is present, and except as may be otherwise required by applicable law or any provision of this Declaration or the Bylaws.