Common use of Meetings of Partners Clause in Contracts

Meetings of Partners. Any matter requiring the approval of the Partners pursuant to this Agreement may be considered at a meeting of the Partners called by the General Partner or Partners owning fifteen percent (15%) of the Voting Interests and held not less than seven (7) nor more than forty-five (45) days after written notice of such meeting, stating the date, time, and place where such meeting is to be held and the purposes for which it is called, is delivered to the Partners in accordance with the provisions of Section 15.3. The presence at such meeting of the General Partner and Limited Partners owning, in the aggregate, a majority of the Voting Interests shall constitute a quorum for the transaction of business. Any action required or permitted to be taken at any meeting of the Partners may, however, be taken (i) without a meeting by means of the General Partner’s submitting to the Limited Partners, in accordance with the provisions of Section 15.3, a statement of the matter to be voted on, the purpose thereof, and the period within which the Limited Partners must respond either in the affirmative or in the negative to the matter in respect of which the vote is requested or (ii) by means of a telephone conference in which all Partners participating in the meeting and constituting a quorum can hear and speak to each other. Except as specifically provided to the contrary in this Agreement, all decisions of the Partners pursuant to this Section 9.4 shall be made by the concurring vote (whether by actual vote or deemed vote pursuant to Section 15.14) of Partners owning, in the aggregate, at least a majority of the Voting Interests including, without limitation, the termination of any management or similar agreements or contracts regarding the management of any properties owned by the Partnership.

Meetings of Partners. Any matter requiring the approval of the Partners pursuant to this Agreement may be considered at a meeting of the Partners called by the General Partner or Partners owning fifteen percent (15%) of the Voting Interests and held not less than seven (7) nor more than forty-five (45) days after written notice of such meeting, stating the date, time, and place where such meeting is to be held and the purposes for which it is called, is delivered to the Partners in accordance with the provisions of Section 15.3. The presence at such meeting of the General Partner and Limited Partners owning, in the aggregate, a majority of the Voting Interests shall constitute a quorum for the transaction of business. Any action required or permitted to be taken at any meeting of the Partners may, however, be taken (i) without a meeting by means of the General Partner’s submitting to the Limited Partners, in accordance with the provisions of Section 15.3, a statement of the matter to be voted on, the purpose thereof, and the period within which the Limited Partners must respond either in the affirmative or in the negative to the matter in respect of which the vote is requested or (ii) by means of a telephone conference in which all Partners participating in the meeting and constituting a quorum can hear and speak to each other. Except as specifically provided to the contrary in this Agreement, all decisions of the Partners pursuant to this Section 9.4 shall be made by the concurring vote (whether by actual vote or deemed vote pursuant to Section 15.14) of Partners owning, in the aggregate, at least a majority all of the Voting Interests including, without limitation, the termination of any management or similar agreements or contracts regarding the management of any properties owned by the PartnershipPartners.