Supermajority Vote Sample Clauses
A Supermajority Vote clause requires that a decision or action be approved by a higher-than-normal percentage of votes, typically more than a simple majority, such as two-thirds or three-quarters of the voting members. This clause is often applied to significant corporate actions like amending bylaws, approving mergers, or dissolving an entity, ensuring that such decisions cannot be made by a slim majority. Its core function is to protect minority interests and ensure that major changes have broad support, thereby reducing the risk of hasty or controversial decisions.
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Supermajority Vote. A “Supermajority Vote” means Executive Board approval of an item accomplished by securing affirmative votes of both: (1) not less than two-thirds (66%) of all Members of the Executive Board in number and (2) not less than sixty percent (60%) of the Weighted Vote of all Members of the Executive Board. (By way of example, so long as there are five Principals, then four Member in number must vote in the affirmative to satisfy the first prong of a Supermajority Vote).
Supermajority Vote. Supermajority Vote shall mean the affirmative vote of a number of Directors equal to at least two-thirds (2/3) of the total number of seats on the Board of Directors (including any seats that are, at the time of such vote, vacant).
Supermajority Vote. Sections 1.02(a), 4.01(b), 4.03(a) and (b), 4.04, 4.05, 4.08 (but only with respect to the alteration or repeal of the last sentence thereof, or a change to the bylaws having substantially the same effect), 4.12(c), 5.01(a), 5.06(b), 5.07 and 5.08 and this Section 9.07(b) may be altered or repealed only by a vote of 80% of the Whole Board.
Supermajority Vote. The affirmative vote, approval or consent, as the case may be, of Members holding more than seventy five percent (75%) of the total Percentage Interests held by all Members entitled to vote on, approve or consent to the particular matter, decision or action.
Supermajority Vote. A vote of Members representing not less than 75% of the Sharing Ratios of all Members.
Supermajority Vote. Notwithstanding Section 7.8, the Company shall not take any of the following actions without the affirmative vote of at least 66 2/3% of the members of the Board (which, for the avoidance of doubt, as of the date hereof, shall require the affirmative vote of at least six members of the Board):
(a) authorize any incurrence of Indebtedness if, immediately after giving effect to the incurrence of such Indebtedness and the contemplated use of the proceeds thereof, the Debt to EBITDAX Ratio as of the fiscal quarter ended immediately preceding the date of such incurrence, would exceed 2.5 to 1.0, as calculated in the good faith judgment of the Board;
(b) fund the acquisition of any Oil and Gas Properties with distributable cash;
(c) make any change to the definition of “Available Cash” set forth in the Partnership Agreement; or
(d) issue any additional partnership interests that rank senior in right of distributions or liquidation to the Common Units.
Supermajority Vote. (a) In addition to the requirements of the Nevada Revised Statutes which provide, among other things, that the Company must obtain the consent of the Board of Directors for certain matters, the Company shall not, and shall cause its Subsidiaries not to, take any of the following actions or otherwise engage in any of the following transactions without the affirmative vote or the written consent of at least a majority of the issued and outstanding shares of Common Stock, which majority shall include the affirmative vote or written consent of all of the shares of Common Stock held by GMAC Mortgage Group (or, if applicable, by the Person to whom GMAC Mortgage Group has assigned its right to designate directors pursuant to Section 2.1(b) above):
(i) any change to the articles of incorporation or bylaws, by amendment, merger or otherwise, of the Company or any Significant Subsidiary of the Company that could have an adverse effect on Parent, GMAC Mortgage Group or its investment in the Common Stock;
(ii) any decrease in the number of directors that the GMAC Mortgage Group (or, if applicable, the Person to whom GMAC Mortgage Group has assigned its right to designate directors pursuant to Section 2.1(b) above) may designate to serve as directors hereunder;
(iii) the declaration or payment of dividends or other distributions to holders of common stock of the Company in their capacity as holders of common stock (except on any basis that is pro rata among all holders of common stock or otherwise pursuant to the terms of the instrument governing any security);
(iv) the repurchase, exchange or redemption by the Company or any Subsidiary of the Company of any common stock of the Company other than (i) a repurchase, exchange or redemption of common stock from an employee in connection with satisfying any of its obligations under an employee benefit plan or employment agreement, (ii) any required redemption or exchange pursuant to the terms of the instrument governing such common stock, and (iii) any repurchase, exchange or redemption on a pro rata basis among the holders of such common stock; and
(v) any transaction (including any series of related transactions) involving the Company or its Subsidiaries, on the one hand, and any members of Investor or their respective Affiliates, on the other hand, that benefits (other than in its capacity as a holder of Common Stock on a pro rata basis) (A) any member of Investor (or such member’s Affiliates) holding, together with its ...
Supermajority Vote. Notwithstanding Article II, Section 7, the following matters require a Supermajority Vote. A Supermajority Vote means 2/3 vote of the Board members present at any meeting at which a quorum is present: • The borrowing of funds or otherwise incurring any debt on behalf of the Transit Authority that has a repayment term that exceeds one year and $250,000. • Voluntarily permitting a lien to be placed on any equipment, assets, or property of the Transit Authority.
Supermajority Vote. A “Supermajority Vote” means Joint Board approval of an item accomplished by securing affirmative votes of not less than two-thirds (66%) of all Members of the Joint Board in number.
Supermajority Vote. Certain actions of the Management Committee with respect to those matters specifically identified in this Agreement shall require an affirmative vote of (i) greater than fifty percent (50%) of total Participant Percentages entitled to vote, and (ii) not less than three (3) Management Committee representatives affirmatively voting (subject to Section 3.3.4.4, a "Level B Vote").