Action by the Management Committee Sample Clauses
The "Action by the Management Committee" clause defines how decisions are made and actions are authorized by a company's management committee. Typically, this clause outlines the procedures for calling meetings, the required quorum, voting thresholds, and the scope of matters that the committee can decide upon, such as approving budgets or major contracts. By establishing clear rules for collective decision-making, this clause ensures that management actions are taken in an organized, legitimate manner and helps prevent disputes over authority or process within the organization.
Action by the Management Committee. An Authorized Representative of Owner and an Authorized Representative of Purchaser shall together constitute a quorum for the transaction of business, and each Authorized Representative shall have one (1) vote on all decisions of the Management Committee. The affirmative vote of an Authorized Representative of Owner and an Authorized Representative of Purchaser shall be the act of the Management Committee.
Action by the Management Committee. The Management Committee 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 Management Committee may be called by any two General Partners or members of the Management Committee. Subject to the requirements of the 1940 Act, the Management Committee 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 Partnership. A quorum for all meetings of the Management Committee shall be a majority of the General Partners, including the representative for each Managing General Partner.
Action by the Management Committee a. A majority of the total number of the Management Committee then qualified and acting shall constitute a quorum for any meeting of the Management Committee. Once a quorum is present at any meeting of the Management Committee, each Member shall be entitled to one vote upon each member upon which the Board votes. The vote of the majority of the Board Members present at which a quorum is present shall be the act of the Management Committee unless a greater number is required by this Agreement.
b. At any meeting of the Management Committee, Members may be present by proxy and may vote on any question, or may vote by any electronic or telephonic means approved by the Board.