Common use of Quorum; Telephonic Meetings Clause in Contracts

Quorum; Telephonic Meetings. (a) Provided that notice of the meeting has been given in accordance with Section 4.05, Members holding a majority of the outstanding Membership Interests (including, subject to the last sentence of this Section 4.06, HoldCo) entitled to vote with respect to the business to be transacted, who shall be present or represented by proxy at any meeting duly called, shall constitute a quorum for the transaction of business. If less than a quorum shall be in attendance at the time for which a meeting shall have been called, the meeting may be adjourned from time to time by a majority of the Members present or represented by proxy and the Company shall promptly give notice of when the meeting will be reconvened. If a meeting is adjourned due to a lack of a quorum, and the sole reason for such lack was the failure of HoldCo to be present, then, if the reconvened meeting is held at least 24 hours after the meeting at which a quorum was not present, then at such reconvened meeting, a quorum shall consist of Members holding a majority of the outstanding Membership Interests entitled to vote with respect to the business to be transacted, irrespective of whether HoldCo is present at such meeting.

Quorum; Telephonic Meetings. (a) Provided that notice of the meeting has been given in accordance with Section 4.05, Members holding a majority of the outstanding Membership Interests Units (including, subject to the last sentence of this Section 4.06, HoldCoall GE Members) entitled to vote with respect to the business to be transacted, who shall be present or represented by proxy at any meeting duly called, shall constitute a quorum for the transaction of business. If less than a quorum shall be in attendance at the time for which a meeting shall have been called, the meeting may be adjourned from time to time by a majority of the Members present or represented by proxy and the Company shall promptly give notice of when the meeting will be reconvened. If a meeting is adjourned due to a lack of a quorum, and the sole reason for such lack was the failure of HoldCo one or more GE Members to be present, then, if the reconvened meeting is held at least 24 hours after the meeting at which a quorum was not present, then at such reconvened meeting, a quorum shall consist of Members holding a majority of the outstanding Membership Interests Units entitled to vote with respect to the business to be transacted, irrespective of whether HoldCo is the GE Members are present at such meeting.