Ultramajority Interest Clause Samples
Ultramajority Interest. The following actions shall require the approval of an Ultramajority Interest:
(A) the Disposition or abandonment of all or substantially all of the Company’s assets;
(B) causing or permitting the Company to merge, consolidate or convert into any other entity;
(C) providing for the basic geographic configuration, points of receipt and delivery, pipeline diameter or design capacity of the Initial Facilities to be materially different from that set forth in the form of the FERC Application for the Initial Facilities;
(D) amending or terminating the CO&M Agreement;
(E) entering into any Financing Commitment;
(F) causing any Encumbrance to be placed on the Facilities or any other material asset of the Company; and
(G) any other action that, pursuant to an express provision of this Agreement, requires the approval of an Ultramajority Interest.
Ultramajority Interest. The following actions shall require the approval of an Ultramajority Interest:
(A) the Disposition or abandonment of all or substantially all of the Company’s assets;
(B) causing or permitting the Company to merge, consolidate or convert into any other entity;
(C) considering at a meeting of the Management Committee a matter not on the agenda for that meeting;
(D) amending or terminating the COM Agreement or restricting any delegation of authority thereunder; and
(E) any other action that, pursuant to an express provision of this Agreement, requires the approval of an Ultramajority Interest.