Common use of Quorum of the meeting Clause in Contracts

Quorum of the meeting. The presence of the chairman of the Operating Committee or his/her alternate is mandatory in meetings. As long as the provision in paragraph Error: Reference source not found is complied with, meetings of the Operating Committee may be held with any quorum. Each Consortium Member shall be entitled to one (1) vote, exercised by its representative, in the Operating Committee. The Contractor in default after five (5) days of the default notice issued by the Operator shall lose the right to vote in meetings of the Operating Committee. The vote of the representative of the Manager shall worth fifty percent (50%) of the decision, and the remaining fifty percent (50%) shall be divided between the other members present at the meeting, in the proportion of each Contractor’s Share. If any member of the Operating Committee present at the meeting refrains from resolving upon a certain matter or is in default, its Share shall be divided between the other members present at the meeting, in the proportion of each compliant Contractor’s Share. The provisions in paragraph 1.18.1 also apply to the case of refraining from postal voting. Proposed resolutions shall be sent by the Operator to the Operating Committee. Any topic that shall be resolved by the Consortium may be raised by the members of the Operating Committee. Information required to resolve upon the topic proposed shall be sent to the other Parties within no less than fifteen (15) days of the date of the meeting. The matters included in the Table of Competences and Resolutions shall be resolved upon according to the quorum of Consortium Members present at the meetings and entitled to vote, except as provided for in paragraph Error: Reference source not found. Percentages to be achieved so that the matter is approved, within the scope of the Consortium, shall be calculated according to the procedures below. The resolutions which column of decisions is checked with “D1” shall have decision percentage equal to ninety-one percent (91%). The resolutions which column of decisions is checked with “D2” shall have decision percentage equal to forty-one percent (41%), without participation of the Manager.

Quorum of the meeting. The presence of the chairman of the Operating Committee or his/her alternate is mandatory in meetings. As long as the provision in paragraph Error: Reference source not found is complied with, meetings of the Operating Committee may be held with any quorum. Each Consortium Member shall be entitled to one (1) vote, exercised by its representative, representative in the Operating Committee. The Contractor Contracted Party in default after five (5) days of the default notice issued by the Operator shall lose the its voting right to vote in meetings of the Operating Committee. The vote of the Manager’s representative of the Manager shall worth be weighted fifty percent (50%) of the decision, and the remaining fifty percent (50%) shall be divided between among the other members present at the meeting, in the proportion of each ContractorContracted Party’s Share. If any member of the Operating Committee present at the meeting refrains from resolving upon a certain matter or is in default, its Share shall be divided between among the other members present at the meeting, in the proportion of each compliant ContractorContracted Party’s Share. The provisions in paragraph 1.18.1 1.17.1 also apply to the case of refraining from postal voting. Proposed resolutions shall be sent by the Operator to the Operating Committee. Any topic that shall be resolved by the Consortium may be raised by the members of the Operating Committee. Information required to resolve upon the topic proposed shall be sent to the other Parties within no less than fifteen (15) days of the date of the meeting. The matters included in the Table of Competences and Resolutions shall be resolved upon according to the quorum of Consortium Members present at the meetings and entitled to vote, except as provided for in paragraph Error: Reference source not found1.19. Percentages to be achieved so that the matter is approved, within the scope of the Consortium, shall be calculated according to the procedures below. The resolutions Resolutions for which the column of decisions is checked with “D1” shall have decision percentage equal to ninety-one percent (91%). The resolutions Resolutions for which the column of decisions is checked with “D2” shall have decision percentage equal to forty-one percent (41%), without participation of the Manager. Resolutions for which the column of decisions is checked with “D3” shall have decision percentage equal to 82.5% (eighty-two integers and five tenths percent). Resolutions for which the column of decisions is checked with “D4” shall have decision percentage equal to 32.5% (thirty-two integers and five tenths percent), without participation of the Manager.

Quorum of the meeting. The presence of the chairman of the Operating Committee or his/her alternate is mandatory in meetings. As long as the provision in paragraph Error: Reference source not found is complied with, meetings of the Operating Committee may be held with any quorum. Each Consortium Member shall be entitled to one (1) vote, exercised by its representative, representative in the Operating Committee. The Contractor Contracted Party in default after five (5) days of the default notice issued by the Operator shall lose the its voting right to vote in meetings of the Operating Committee. The vote of the Manager’s representative of the Manager shall worth be weighted fifty percent (50%) of the decision, and the remaining fifty percent (50%) shall be divided between among the other members present at the meeting, in the proportion of each ContractorContracted Party’s Share. If any member of the Operating Committee present at the meeting refrains from resolving upon a certain matter or is in default, its Share shall be divided between among the other members present at the meeting, in the proportion of each compliant ContractorContracted Party’s Share. The provisions in paragraph 1.18.1 1.17.1 also apply to the case of refraining from postal voting. Proposed resolutions shall be sent by the Operator to the Operating Committee. Any topic that shall be resolved by the Consortium may be raised by the members of the Operating Committee. Information required to resolve upon the topic proposed shall be sent to the other Parties within no less than fifteen (15) days of the date of the meeting. The matters included in the Table of Competences and Resolutions shall be resolved upon according to the quorum of Consortium Members present at the meetings and entitled to vote, except as provided for in paragraph Error: Reference source not found. Percentages to be achieved so that the matter is approved, within the scope of the Consortium, shall be calculated according to the procedures below. The resolutions Resolutions for which the column of decisions is checked with “D1” shall have decision percentage equal to ninety-one percent (91%). The resolutions Resolutions for which the column of decisions is checked with “D2” shall have decision percentage equal to forty-one percent (41%), without participation of the Manager. Resolutions for which the column of decisions is checked with “D3” shall have decision percentage equal to 82.5% (eighty-two integers and five tenths percent). Resolutions for which the column of decisions is checked with “D4” shall have decision percentage equal to 32.5% (thirty-two integers and five tenths percent), without participation of the Manager.

Quorum of the meeting. The presence of the chairman of the Operating Committee or his/her alternate is mandatory in meetings. As long as the provision in paragraph Error: Reference source not found is complied with, meetings of the Operating Committee may be held with any quorum. Each Consortium Member shall be entitled to one (1) vote, exercised by its representative, in the Operating Committee. The Contractor in default after five (5) days of the default notice issued by the Operator shall lose the right to vote in meetings of the Operating Committee. The vote of the representative of the Manager shall worth fifty percent (50%) of the decision, and the remaining fifty percent (50%) shall be divided between the other members present at the meeting, in the proportion of each Contractor’s Share. If any member of the Operating Committee present at the meeting refrains from resolving upon a certain matter or is in default, its Share shall be divided between the other members present at the meeting, in the proportion of each compliant Contractor’s Share. The provisions in paragraph 1.18.1 also apply to the case of refraining from postal voting. Proposed resolutions shall be sent by the Operator to the Operating Committee. Any topic that shall be resolved by the Consortium may be raised by the members of the Operating Committee. Information required to resolve upon the topic proposed shall be sent to the other Parties within no less than fifteen (15) days of the date of the meeting. The matters included in the Table of Competences and Resolutions shall be resolved upon according to the quorum of Consortium Members present at the meetings and entitled to vote, except as provided for in paragraph Error: Reference source not found. Percentages to be achieved so that the matter is approved, within the scope of the Consortium, shall be calculated according to the procedures below. The resolutions which column of decisions is checked with “D1” shall have decision percentage equal to ninety-one percent (91%). The resolutions which column of decisions is checked with “D2” shall have decision percentage equal to forty-one percent (41%), without participation of the Manager.. Error: Reference source not found1.29Error: Reference source not foundThe resolutions which column of decisions is checked with “D3” shall have decision percentage equal to 82.5% (eighty-two integers and five tenths percent). The resolutions which column of decisions is checked with “D4” shall have decision percentage equal to 32.5% (thirty-two integers and five tenths percent), with no participation of the Manager. 1 Commercial Feasibility of the Deposit D4

Quorum of the meeting. The presence of the chairman of the Operating Committee or his/her alternate is mandatory in meetings. As long as the provision in paragraph Error: Reference source not found is complied with, meetings of the Operating Committee may be held with any quorum. Each Consortium Member shall be entitled to one (1) vote, exercised by its representative, in the Operating Committee. The Contractor in default after five (5) days of the default notice issued by the Operator shall lose the right to vote in meetings of the Operating Committee. The vote of the representative of the Manager shall worth fifty percent (50%) of the decision, and the remaining fifty percent (50%) shall be divided between the other members present at the meeting, in the proportion of each Contractor’s Share. If any member of the Operating Committee present at the meeting refrains from resolving upon a certain matter or is in default, its Share shall be divided between the other members present at the meeting, in the proportion of each compliant Contractor’s Share. The provisions in paragraph 1.18.1 also apply to the case of refraining from postal voting. Proposed resolutions shall be sent by the Operator to the Operating Committee. Any topic that shall be resolved by the Consortium may be raised by the members of the Operating Committee. Information required to resolve upon the topic proposed shall be sent to the other Parties within no less than fifteen (15) days of the date of the meeting. The matters included in the Table of Competences and Resolutions shall be resolved upon according to the quorum of Consortium Members present at the meetings and entitled to vote, except as provided for in paragraph Error: Reference source not found. Percentages to be achieved so that the matter is approved, within the scope of the Consortium, shall be calculated according to the procedures below. The resolutions which column of decisions is checked with “D1” shall have decision percentage equal to ninety-one percent (91%). The resolutions which column of decisions is checked with “D2” shall have decision percentage equal to forty-one percent (41%), without participation of the Manager.. Error: Reference source not found1.29Error: Reference source not found1.29Error: Reference source not foundError: Reference source not foundError: Reference source not foundError: Reference source not foundThe resolutions which column of decisions is checked with “D3” shall have decision percentage equal to 82.5% (eighty-two integers and five tenths percent). The resolutions which column of decisions is checked with “D4” shall have decision percentage equal to 32.5% (thirty-two integers and five tenths percent), with no participation of the Manager. 1 Commercial Feasibility of the Deposit D4

Quorum of the meeting. The presence of the chairman of the Operating Committee or his/her alternate is mandatory in meetings. As long as the provision in paragraph Error: Reference source not found Erro! Fonte de referência não encontrada. is complied with, meetings of the Operating Committee may be held with any quorum. Each Consortium Member shall be entitled to one (1) vote, exercised by its representative, in the Operating Committee. The Contractor in default after five (5) days of the default notice issued by the Operator shall lose the right to vote in meetings of the Operating Committee. The vote of the representative of the Manager shall worth fifty percent (50%) of the decision, and the remaining fifty percent (50%) shall be divided between the other members present at the meeting, in the proportion of each Contractor’s Share. If any member of the Operating Committee present at the meeting refrains from resolving upon a certain matter or is in default, its Share shall be divided between the other members present at the meeting, in the proportion of each compliant Contractor’s Share. The provisions in paragraph 1.18.1 also apply to the case of refraining from postal voting. Proposed resolutions shall be sent by the Operator to the Operating Committee. Any topic that shall be resolved by the Consortium may be raised by the members of the Operating Committee. Information required to resolve upon the topic proposed shall be sent to the other Parties within no less than fifteen (15) days of the date of the meeting. The matters included in the Table of Competences and Resolutions shall be resolved upon according to the quorum of Consortium Members present at the meetings and entitled to vote, except as provided for in paragraph Error: Reference source not found. Erro! Fonte de referência não encontrada.. Percentages to be achieved so that the matter is approved, within the scope of the Consortium, shall be calculated according to the procedures below. The resolutions which column of decisions is checked with “D1” shall have decision percentage equal to ninety-one percent (91%). The resolutions which column of decisions is checked with “D2” shall have decision percentage equal to forty-one percent (41%), without participation of the Manager. Erro! Fonte de referência não encontrada.1.29Erro! Fonte de referência não encontrada.1.29Erro! Fonte de referência não encontrada.Erro! Fonte de referência não encontrada.Erro! Fonte de referência não encontrada.Erro! Fonte de referência não encontrada.The resolutions which column of decisions is checked with “D3” shall have decision percentage equal to 82.5% (eighty-two integers and five tenths percent). The resolutions which column of decisions is checked with “D4” shall have decision percentage equal to 32.5% (thirty-two integers and five tenths percent), with no participation of the Manager. 1 Commercial Feasibility of the Deposit D4

Quorum of the meeting. The presence of the chairman of the Operating Committee or his/her alternate is mandatory in meetings. As long as the provision in paragraph Error: Reference source not found 1.12 is complied with, meetings of the Operating Committee may be held with any quorum. Each Consortium Member shall be entitled to one (1) vote, exercised by its representative, representative in the Operating Committee. The Contractor Contracted Party in default after five (5) days of the default notice issued by the Operator shall lose the its voting right to vote in meetings of the Operating Committee. The vote of the Manager’s representative of the Manager shall worth be weighted fifty percent (50%) of the decision, and the remaining fifty percent (50%) shall be divided between among the other members present at the meeting, in the proportion of each ContractorContracted Party’s Share. If any member of the Operating Committee present at the meeting refrains from resolving upon a certain matter or is in default, its Share shall be divided between among the other members present at the meeting, in the proportion of each compliant ContractorContracted Party’s Share. The provisions in paragraph 1.18.1 1.17.1 also apply to the case of refraining from postal voting. Proposed resolutions shall be sent by the Operator to the Operating Committee. Any topic that shall be resolved by the Consortium may be raised by the members of the Operating Committee. Information required to resolve upon the topic proposed shall be sent to the other Parties within no less than fifteen (15) days of the date of the meeting. The matters included in the Table of Competences and Resolutions shall be resolved upon according to the quorum of Consortium Members present at the meetings and entitled to vote, except as provided for in paragraph Error: Reference source not found1.14. Percentages to be achieved so that the matter is approved, within the scope of the Consortium, shall be calculated according to the procedures below. The resolutions Resolutions for which the column of decisions is checked with “D1” shall have decision percentage equal to ninety-one percent (91%). The resolutions Resolutions for which the column of decisions is checked with “D2” shall have decision percentage equal to forty-one percent (41%), without participation of the Manager. Resolutions for which the column of decisions is checked with “D3” shall have decision percentage equal to 82.5% (eighty-two integers and five tenths percent). Resolutions for which the column of decisions is checked with “D4” shall have decision percentage equal to 32.5% (thirty-two integers and five tenths percent), without participation of the Manager.