Lessee Board Voting. A majority of incumbent members of the Lessee Board shall be necessary to constitute a quorum for the transaction of business at any Lessee Board meeting. The Lessee Board shall have the general powers and duties typically vested in the board of directors of a corporation. All actions or decisions of the Lessee Board shall require approval of a majority of the members of the Lessee Board; provided that, so long as Lessee is a Subsidiary of SHP, it will remain subject to the provisions of the LLC Agreement applicable to Subsidiaries of SHP.
Appears in 4 contracts
Samples: Contribution and Sale Agreement (Westbrook Real Estate Partners LLC), Contribution and Sale Agreement (Alter Robert A), Contribution and Sale Agreement (Alter Robert A)
