Common use of Action at a Meeting; Quorum and Required Vote Clause in Contracts

Action at a Meeting; Quorum and Required Vote. Presence of a majority of the authorized number of Managers at a meeting of the Board constitutes a quorum for the transaction of business except as hereinafter provided. Members of the Board may participate in a meeting through use of conference telephone or similar communications equipment so long as all members participating in such meeting can hear one another. Participation in a meeting as permitted in the preceding sentence constitutes presence in person at such meeting. Every act or decision done or made by a majority of the Managers present at a meeting duly held at which a quorum is present shall be regarded as the act of the Board, unless a greater number, or the same number after disqualifying one (1) or more Managers from voting, is required by law, by the Certificate, or by this Agreement. A meeting at which a quorum is initially present may continue to transact business notwithstanding the withdrawal of a Manager, provided that any action taken is approved by at least a majority of the required quorum for such meeting.