Majority Vote Under the Operating Agreement. Each of Seller and the Ultimate Parent Entity hereby agrees that: (i) the transfer of the LLC Interests contemplated by this Agreement is approved by the Majority Vote (as defined in the Susanville Operating Agreement) of the Members (as defined in the Susanville Operating Agreement) and that, effective on the Closing Date Purchaser shall be admitted in Susanville as the sole Member of Susanville; and (ii) by Majority Vote: the terms and provisions of this Agreement are approved, the execution and delivery of this Agreement by Susanville is authorized, and the performance by Susanville of its obligations under the terms and conditions of this Agreement is authorized.
Appears in 4 contracts
Samples: Purchase and Sale Agreement (Laidlaw Energy Group, Inc.), Purchase and Sale Agreement (Laidlaw Energy Group, Inc.), Purchase and Sale Agreement (Laidlaw Energy Group, Inc.)
