Common use of Quorum and Voting Requirements Clause in Contracts

Quorum and Voting Requirements. Members shall be entitled to take action on a matter at a meeting only if a quorum exists. Unless this Agreement provides otherwise, a majority of those votes entitled to be cast on the matter shall constitute a quorum for action on that matter. Once a Unit is represented for any purpose at a meeting, it shall be deemed present for quorum purposes for the remainder of the meeting and for any adjournment of that meeting unless a new record date is or must be set for that adjourned meeting. Except as otherwise required by the Act, if a quorum exists, action on a matter shall be approved if the votes cast favoring the action exceed the votes cast opposing the action.

Appears in 3 contracts

Samples: Operating Agreement (LG&E & KU Energy LLC), Operating Agreement (E on Ag), Operating Agreement (E on Ag)

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