Decisions by Representatives Clause Samples

Decisions by Representatives. Any action, decision, approval, consent, vote or other determination by the Member Committee of Series One shall require the approval of at least a Majority in Interest of the Series One Members, unless a different approval threshold is otherwise set forth in this Agreement or required by the Act. Any action, decision, approval, consent, vote or other determination required to be taken by the Member Committee of Series Two shall require the approval of at least a Majority in Interest of Series Two Members, unless a different approval threshold is otherwise set forth in this Agreement or required by the Act. Any action, decision, consent or approval required or permitted to be taken by the Member Committee of any Series may be taken without a meeting, without prior notice, and without a vote if a written consent or consents, setting forth the action so taken, is signed by the number of Representatives of the Member Committee of such Series that would be sufficient to approve the action by vote taken at a meeting of the Member Committee of such Series. A Representative may grant or withhold his or her consent on any matter before the Member Committee of such Series in his or her sole discretion, based on the interests of the Member that appointed such Representative.