Common use of Quorum and Approval Clause in Contracts

Quorum and Approval. The presence of three (3) of the Directors on the Board shall constitute a quorum for the transaction of any business by the Board. Unless otherwise provided herein, the acts of at least three Directors present and voting at a meeting at which a quorum is present shall be required for any action of the Board; provided, however, that if notice of a meeting is provided to the Directors, and such notice describes the business to be considered, the actions to be taken and the matters to be voted on at the meeting in reasonable detail, and insufficient Directors attend the meeting to constitute a quorum, the meeting may be adjourned by those Directors attending such meeting for a period not to exceed twenty (20) days. Such meeting may be reconvened by providing notice of the reconvened meeting to the Directors no less than ten (10) days prior to the date of the meeting specifying that the business to be considered, the actions to be taken and the matters to be voted upon are those set forth in the notice of the original adjourned meeting.