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Common use of Procedure for Obtaining Consent Clause in Contracts

Procedure for Obtaining Consent. (a) Any approval, consent, waiver or vote of the Members required by this Agreement or by the LLC Act may be given by either: (i) a written approval, consent, waiver or affirmative vote executed by all of the Members to the other Member or the Board at or prior to the commission of the act or thing for which the approval is solicited, provided that such approval, consent or waiver shall not have been revoked by (A) notification to the Members or the Board, as the case may be, of such revocation by any Member or negative vote by any Members at or prior to any meeting called to consider such act or thing or (B) notification to the other Members or the Board, as the case may be, of such revocation by any Member prior to the commission of the act or thing which is subject of the approval, consent or waiver; or (ii) the approval, consent, waiver or affirmative vote of all of the Members at any meeting called and held pursuant to Section 7.1(b). (b) Unless notice is waived as is herein provided and allowed, any approval, consent, waiver or vote of the Members required pursuant to this Agreement or any other matter to come before the Members may be considered at a meeting of the Members held not less than 20 nor more than 60 days after notification of such meeting shall have been given to all of the Members in accordance with this Section 7.1

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Mascoma Corp)

Procedure for Obtaining Consent. (a) Any approval, consent, waiver or vote of the Members required by this Agreement or by the LLC Act may be given by either: (i) a written approval, consent, waiver or affirmative vote executed by all of the Members to the other Member or the Board at or prior to the commission of the act or thing for which the approval is solicited, provided that such approval, consent or waiver shall not have been revoked by (A) notification to the Members or the Board, as the case may be, of such revocation by any Member or negative vote by any Members at or prior to any meeting called to consider such act or thing or (B) notification to the other Members or the Board, as the case may be, of such revocation by any Member prior to the commission of the act or thing which is subject of the approval, consent or waiver; or (ii) the approval, consent, waiver or affirmative vote of all of the Members at any meeting called and held pursuant to Section 7.1(b). (b) Unless notice is waived as is herein provided and allowed, any approval, consent, waiver or vote of the Members required pursuant to this Agreement or any other matter to come before the Members may be considered at a meeting of the Members held not less than 20 nor more than 60 days after notification of such meeting shall have been given to all of the Members in accordance with this Section 7.17.1(b). Such notification shall be given by the Members or the Board within 30 days after receipt by the Members or the Board of a request for such a meeting by any Member. All such meetings shall be held at such reasonable time and place as the Members or the Board may designate. Any Member may waive notice of any such meeting as to itself. Attendance of a Member at a meeting in person or by use of the telephone shall constitute waiver of notice of such meeting, except where a Member attends such meeting for the express purpose of objecting to the transaction of any business because the meeting is not properly called or convened. Any such meeting may be held by means of a conference telephone or similar communication if all persons participating in such meeting can hear one another for the discussion of the matter(s) to be voted upon.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Procedure for Obtaining Consent. (a) Any approval, consent, waiver or vote of the Members required by this Agreement or by the LLC Act may be given by either: (i) a written approval, consent, waiver or affirmative vote executed by all of the Members to the other Member Members or the Board at or prior to the commission of the act or thing for which the approval is solicited, provided that such approval, consent or waiver shall not have been revoked by (A) notification to the Members or the Board, as the case may be, of such revocation by any Member or negative vote by any Members at or prior to any meeting called to consider such act or thing or (B) notification to the other Members or the Board, as the case may be, of such revocation by any Member prior to the commission of the act or thing which is subject of the approval, consent or waiver; or (ii) the approval, consent, waiver or affirmative vote of all of the Members at any meeting called and held pursuant to Section 7.1(b). (b) Unless notice is waived as is herein provided and allowed, any approval, consent, waiver or vote of the Members required pursuant to this Agreement or any other matter to come before the Members may be considered at a meeting of the Members held not less than 20 10 nor more than 60 days after notification of such meeting shall have been given to all of the Members in accordance with this Section 7.17.1(b). Such notification shall be given by the Members or the Board within 10 days after receipt by the Members or the Board of a request for such a meeting by any Member. All such meetings shall be held at such reasonable time and place as the Members or the Board may designate. Any Member may waive notice of any such meeting as to itself. Attendance of a Member at a meeting in person or by use of the telephone or video conference or similar technology shall not constitute waiver of notice of such meeting, except where a Member attends such meeting for the express purpose of objecting to the transaction of any business because the meeting is not properly called or convened. Any such meeting may be held by means of a telephone, video conference or similar communication if all persons participating in such meeting can hear one another for the discussion of the matter(s) to be voted upon.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Innovative Payment Solutions, Inc.)

Procedure for Obtaining Consent. (a) Any approval, consent, waiver or vote of the Members required by this Agreement or by the LLC Act may be given by either: (i) a written approval, consent, waiver or affirmative vote executed by all of the Members to the other Member or the Board at or prior to the commission of the act or thing for which the approval is solicited, provided that such approval, consent or waiver shall not have been revoked by (A) notification to the Members or the Board, as the case may be, of such revocation by any Member or negative vote by any Members at or prior to any meeting called to consider such act or thing or (B) notification to the other Members or the Board, as the case may be, of such revocation by any Member prior to the commission of the act or thing which is subject of the approval, consent or waiver; or (ii) the approval, consent, waiver or affirmative vote of all of the Members at any meeting called and held pursuant to Section 7.1(b). PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE SECRETARY OF THE COMMISSION PURSUANT TO AN APPLICATION FOR CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [***] DENOTES OMISSIONS. (b) Unless notice is waived as is herein provided and allowed, any approval, consent, waiver or vote of the Members required pursuant to this Agreement or any other matter to come before the Members may be considered at a meeting of the Members held not less than 20 nor more than 60 days after notification of such meeting shall have been given to all of the Members in accordance with this Section 7.17.1(b). Such notification shall be given by the Members or the Board within 30 days after receipt by the Members or the Board of a request for such a meeting by any Member. All such meetings shall be held at such reasonable time and place as the Members or the Board may designate. Any Member may waive notice of any such meeting as to itself. Attendance of a Member at a meeting in person or by use of the telephone shall constitute waiver of notice of such meeting, except where a Member attends such meeting for the express purpose of objecting to the transaction of any business because the meeting is not properly called or convened. Any such meeting may be held by means of a conference telephone or similar communication if all persons participating in such meeting can hear one another for the discussion of the matter(s) to be voted upon.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Mascoma Corp)