Major Decisions of Committee Sample Clauses

Major Decisions of Committee. Except to extent the same is already covered in an Approved Budget, an approved AFE, or is otherwise an expense or liability authorized or permitted under Section 3.1(i) or under Article IV, Article VI or Article IX, neither the Manager, nor any Owners shall have any right or authorization to take or to cause to be taken any of the following actions (each a “Major Decision”, and collectively, the “Major Decisions”) without the unanimous vote of the Committee (i.e., approval of such Owner Representatives who, in the aggregate hold 100% of the Voting Interests), excluding any approval required relative to any costs, expenses or liabilities relating to a Solely Owned Segment (which shall be subject to the agreement or approval of the SOS Owners thereof): (i) Any amendment to this Agreement; (ii) Approval of the annual budget contemplated under Section 3.1(c) below, subject to the other provisions of Article III and Article VI below; (iii) Filing, consenting to, or acquiescing in any act or event that would constitute an event of bankruptcy with respect to a Party; (iv) Acquiring by lease, purchase, or otherwise any real or personal property or fixture in an amount greater than $50,000; (v) Amending the Budget in an amount, individually or in any series of related transactions, greater than $50,000, except in response to an emergency; (vi) Entering into any contract or arrangement that requires any payments in an amount, individually or in any series of related transactions, greater than $25,000 to an Affiliate of a Party, except with regard to the SES Gathering Agreement, any SOS SES Gathering Agreement, the initial Contract Operator Agreement, or the NAESB Purchase Agreement or as otherwise expressly authorized by this Agreement;