Common use of Action by Managers Without a Meeting Clause in Contracts

Action by Managers Without a Meeting. Action required or permitted to be taken at a meeting of Managers may be taken without a meeting if the action is taken by persons who would be entitled to vote not less than the minimum number of votes that would be necessary to authorize or take the action. The action must be evidenced by one or more written consents describing the action taken, signed by the Managers entitled to take such action and delivered to the Company for inclusion in its records. Action taken under this Section 6.5 is effective when the Managers required to approve such action have signed the consent, unless the consent specifies a different effective date. The record date for determining Managers entitled to take action without a meeting is the date the first Manager signs a written consent.

Appears in 5 contracts

Samples: Merger Agreement (MVP REIT II, Inc.), Merger Agreement (MVP REIT, Inc.), Merger Agreement (Moody National REIT I, Inc.)

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Action by Managers Without a Meeting. Action Any action required or permitted to be taken at a meeting of Managers may be taken without a meeting meeting, upon the same notice as would be required for a meeting, and without a vote, if the such action is taken approved by persons who the written consent of such number and class of Managers (which may be executed in counterparts) as would be entitled have been required to vote not less than approve such action at a meeting duly called of all the minimum number of votes that would be necessary to authorize or take the actionManagers. The action must be evidenced by one or more Such written consents describing the action taken, signed by the Managers entitled to take such action and shall be delivered to the Company for inclusion in its records. Action taken under this Section 6.5 3.1.5 is effective when the Managers required to approve such action have signed the consent, unless the consent specifies a different effective date. The record date for determining Managers entitled to take action without a meeting is the date the first Manager signs a written consent.

Appears in 1 contract

Samples: Operating Agreement (Ebank Financial Services Inc)

Action by Managers Without a Meeting. Action required or permitted to be taken at a meeting of Managers may be taken without a meeting meeting, without prior notice and without a vote if the action is taken by persons who would be entitled to vote not less than the minimum number of votes that would be necessary to authorize or take the action. The action must be evidenced by one or more written consents describing the action taken, signed by the Managers having not fewer than the minimum number of votes that would be necessary to take the action at a meeting at which all Managers entitled to take such vote on the action were present and delivered to voted, and included in the Company for inclusion in its minutes or records. Action taken under this Section 6.5 7.9 is effective when the requisite number of the Managers required to approve such action have signed the consent, unless the consent specifies a different effective date. The record date for determining Managers entitled to take action without a meeting is shall be the date the first Manager signs a written consent.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Centerpoint Energy Houston Electric LLC)

Action by Managers Without a Meeting. Action required or permitted to be taken at a meeting of Managers may be taken without a meeting if the action is taken by persons Managers who would be entitled to vote not less than the minimum number of votes that would be necessary to authorize or take the action. The action must be evidenced by one or more written consents describing the action taken, signed by the Managers entitled to take such action and delivered to the Company for inclusion in its records. Action taken under this Section 6.5 3.1.5 is effective when the Managers required to approve such action have signed the consent, unless the consent specifies a different effective date. The record date for determining Managers entitled to take action without a meeting is the date the first Manager signs a written consent.

Appears in 1 contract

Samples: Operating Agreement (Moody National REIT I, Inc.)

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Action by Managers Without a Meeting. Action required or permitted to be taken at a meeting of Managers may be taken without a meeting if the action is taken by persons who would be entitled to vote not less than the minimum number of votes that would be necessary to authorize or take the action. The action must be evidenced by one or more written consents describing the action taken, signed by the Managers entitled to take such action and delivered to the Company for inclusion in its records. Action taken under this Section 6.5 8.1(E) is effective when the Managers required to approve such action have signed the consent, unless the consent specifies a different effective date. The record date for determining Managers entitled to take action without a meeting is the date the first Manager signs a written consent.

Appears in 1 contract

Samples: Operating Agreement (Valley Telephone Co., LLC)

Action by Managers Without a Meeting. Action required or permitted to be taken at a meeting of the Manager or Managers may be taken without a meeting if the action is taken by persons who would be entitled to vote not less than the minimum number of votes that would be necessary to authorize or take the action. The action must be evidenced by one or more written consents describing the action taken, signed by the Managers entitled to take such action and delivered to the Company for inclusion in its records. Action taken under this Section 6.5 3.1.5 is effective when the Managers required to approve such action have signed the consent, unless the consent specifies a different effective date. The record date for determining Managers entitled to take action without a meeting is the date the first Manager signs a written consent.

Appears in 1 contract

Samples: Operating Agreement (Moody National REIT I, Inc.)

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