Majority Interest Owner Sample Clauses
The Majority Interest Owner clause defines the party or parties holding the largest share of ownership or voting rights in a joint venture, partnership, or similar arrangement. In practice, this clause typically specifies the threshold—such as more than 50% of ownership interests—required for a party to be considered the Majority Interest Owner, and outlines the decision-making powers or responsibilities that come with this status, such as the authority to approve major operational decisions or amendments to the agreement. Its core function is to clarify which party has the controlling influence in the entity, thereby streamlining governance and reducing disputes over who can make binding decisions on behalf of the group.
Majority Interest Owner. Licensee represents, warrants and agrees that Licensee actually owns the majority interest in the legal and equity ownership and Control of the operation of the Sonic Restaurant, and that Licensee shall maintain such interest during the term of this License except only as otherwise permitted pursuant to the terms and conditions of this License. Licensee shall furnish SONIC with such evidence as SONIC may request from time to time for the purpose of assuring SONIC that Licensee’s interest remains as represented herein.