Common use of Absence of Quorum Clause in Contracts

Absence of Quorum. If within fifteen (15) minutes after the time appointed for the holding of a meeting a quorum is not present, the meeting: (a) if convened upon the requisition of members or for the purpose of winding up the Company voluntarily, shall be dissolved; or (b) (i) in any other case it shall stand adjourned to the first Business Day thereafter at the same time and place or to such other day time and place as the Directors may by notice to the shareholders appoint;