Common use of Supermajority Approval Clause in Contracts

Supermajority Approval. The following actions shall require the affirmative vote of a supermajority of the Managers then serving, subject only to the requirements of Section 7.5 below: (a) Amendments to the following sections of the Operating Agreement: Article I, 2.2, 2.4, 3.2, 3.3, 3.4, 3.5, 3.6, 4.1, 4.3, 5.1, 6.4, 7.1, 7.2, 7.3, 7.4, 7.5, 7.8, 8.1, Article X, 12.8, 12.13, and 12.14. (b) The designation of some or all of Net Operating Cash Flow as Reasonable Reserves; (c) Removal of a Manager; (d) Adoption of payment risk models for any managed care contract to which the Company is a party; (e) Expenditures not part of the approved operating or capital budgets, including any contingency amounts; (f) Approval of a contract with a health plan or other payer with which the Company has no contract, or the termination of an existing contract with a health plan or payer; (g) Contracting with a provider of health care services who/which is not a Member; (h) Borrowing by the Company in excess of $250,000, (i) Additional capital contributions; (j) Election of officers of the Company; (k) The selection or termination of the Company’s Executive Director, except for appointment of an interim Executive Director which may be done by action of the Executive Committee with ratification at the Board of Managers at the next scheduled meeting; (l) A bankruptcy filing by the Company; and (m) Authorization, creation, designation, determination or issuance of any new class of Units, or securities convertible into Units, or the issuance of options or warrants to purchase Units. For purposes of the Section 7.4, supermajority shall mean greater than sixty six (66%) percent of the Board of Managers.

Supermajority Approval. The following actions shall require the affirmative vote of a supermajority fourteen (14) of the Managers then serving, subject only to the requirements of Section 7.5 below: (a) Amendments to the following sections of the Operating Agreement: Article I, 2.2, 2.4, 3.2, 3.3, 3.4, 3.5, 3.6, 4.1, 4.3, 5.1, 6.4, 7.1, 7.2, 7.3, 7.4, 7.5, 7.8, 8.1, Article X, 12.8, 12.13, and 12.14. (b) The designation of some or all of Net Operating Cash Flow as Reasonable Reserves; (c) Removal of a Manager; (d) Adoption of payment risk models for any managed care contract to which the Company is a party; (e) Expenditures not part of the approved operating or capital budgets, including any contingency amounts; (f) Approval of a contract with a health plan or other payer with which the Company has no contract, or the termination of an existing contract with a health plan or payer; (g) Contracting with a provider of health care services who/which is not a Member; (h) Borrowing by the Company in excess of $250,000, (i) Additional capital contributions; (j) Election of officers of the Company; (k) The selection or termination of the Company’s Executive Director, except for appointment of an interim Executive Director which may be done by action of the Executive Committee with ratification at the Board of Managers at the next scheduled meeting; (l) A bankruptcy filing by the Company; and (m) Authorization, creation, designation, determination or issuance of any new class of Units, or securities convertible into Units, or the issuance of options or warrants to purchase Units. For purposes of the Section 7.4, supermajority shall mean greater than sixty six (66%) percent of the Board of Managers.