Majority Matters Clause Samples
Majority Matters. Subject to Section 7.7(b) and Section 7.7(c), any matter set forth in this Agreement to be determined, decided or acted upon by the Steering Committee shall require the written consent or vote of a majority of the members of the Steering Committee present at a meeting at which a quorum is present.
Majority Matters. Notwithstanding any other provision of this Operating Agreement, and notwithstanding that the Company is Manager-Managed generally, the approval of a majority of the then-issued and outstanding Participation Interest shall be necessary in order for any of the following actions to be taken on behalf of the Company (each, a “Majority Matter”):
(i) Electing and removing Managers, with or without cause;
(ii) Increasing and/or decreasing the number of Managers to constitute the Board of Managers;
(iii) Merging with another entity;
(iv) Selling, transferring, or subjecting to liens or other encumbrances, all or substantially all of the Company assets;
(v) Admitting a new Member or investor (and determining such new Member’s initial capital contribution);
(vi) Issuing new Membership Interests;
(vii) Any other matter that under the express terms of this Operating Agreement is to be treated as a Majority Matter. 08111109606 RSI Prepared by ▇▇▇▇ ▇. ▇▇▇▇▇▇, PC “Digitalaw” 804.726.6000 ▇▇▇▇▇▇▇▇▇.▇▇▇ 3