Required Vote – Generally Clause Samples
The "Required Vote – Generally" clause defines the minimum level of approval needed from a group, such as shareholders or board members, for a decision or action to be valid. Typically, this clause specifies whether a simple majority, supermajority, or unanimous consent is necessary for various types of resolutions or corporate actions. For example, it may require a majority vote to approve routine matters but a higher threshold for significant changes like mergers. Its core function is to establish clear decision-making thresholds, ensuring that important actions reflect adequate support and reducing the risk of disputes over the legitimacy of decisions.
Required Vote – Generally. Except when a greater or lesser vote is required by any provision of this Declaration of Trust, the By-Laws, the 1940 Act, or a resolution of the Trustees, when a quorum is present at any meeting, a majority of the Shares voted shall decide any questions and a vote of the holders of at least a majority of the Shares then entitled to vote in an election of a Trustee shall elect such Trustee, provided that where any provision of law or of this Declaration of Trust requires that the holders of any series shall vote as a series (or that holders of a class shall vote as a class), then a majority of the Shares of that series (or class) voted on the matter (or the holders of at least a majority of the Shares of that series or class then entitled to vote in an election of the Trustee with respect to the election of a Trustee) shall decide that matter insofar as that series (or class) is concerned.