Action by the Directors. The Directors shall act by majority vote at a meeting duly called, or by unanimous written consent without a meeting, unless the 1940 Act requires that a particular action be taken only at a meeting. Meetings of the Directors may be called by any two Directors. Subject to the requirements of the 1940 Act, the Directors by majority vote may delegate to any one of its number, or a committee thereof, its authority to approve particular matters or take particular actions on behalf of the Fund. A quorum for all meetings of the Directors shall be a majority of the Directors.
Appears in 4 contracts
Samples: Operating Agreement (Technology Funding Venture Capital Fund Vi LLC), Operating Agreement (Technology Funding Venture Capital Fund Vi LLC), Operating Agreement (Technology Funding Venture Capital Fund Vi LLC)
Action by the Directors. The Directors shall act by majority vote at a meeting duly called, or by unanimous written consent without a meeting, unless the 1940 Act requires that a particular action be taken only at a meeting. Meetings of the Directors may be called by any two Directors. Subject to the requirements of the 1940 Act, the Directors by majority vote may delegate to any one of its numbermembers, or a committee thereof, its authority to approve particular matters or take particular actions on behalf of the Fund. A quorum for all meetings of the Directors shall be a majority of the Directors.
Appears in 2 contracts
Samples: Form of Operating Agreement (Vcvillage Com Opportunity Fund LLC), Form of Operating Agreement (Vcvillage Com Opportunity Fund LLC)
