Veto Power Clause Samples
The Veto Power clause grants a specific party or group the authority to unilaterally block or reject certain decisions or actions within an organization or agreement. In practice, this means that even if a majority supports a proposal, the party with veto power can prevent its implementation, often applying to major decisions such as amendments, mergers, or budget approvals. This clause serves to protect the interests of key stakeholders by ensuring that critical actions cannot proceed without their explicit consent, thereby preventing unilateral decisions that could adversely affect them.
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Veto Power. The COMPANY may prohibit sales as the Board ---------- of Directors of the COMPANY deem not to be in the best interests of the COMPANY.
Veto Power. A veto power is not the same as a power to initiate an action. If the authority ceded to the JOA governing body is merely the power to veto actions taken by participating hospitals, then the facts and circumstances necessary to establish the equivalent of a parent-subsidiary relationship would not be present. Similarly, if actions of the JOA governing body are subject to veto by the participating hospitals, this too would negate a finding that the hospitals function as subordinates of the JOA.
Veto Power. Each party shall have the exclusive right to veto use of their corporate brand by the other party, upon written notice to the "Address for Notices" contained in the signature portion of this contract.
Veto Power. Any and all policies and directives approved by the Board of Directors are subject to review and veto by the representative bodies of the constituent groups. Each body will set forth its own rules on the percentage of members who must vote and approve a veto but it cannot be any lower than seventy-percent (70%) of the voting body. The Board of Directors may override a veto with a two-thirds (⅔) vote of the Board of Directors. In the event the board does not have enough votes to override the veto, the board may revisit the directive to make changes or abandon the directive.
Veto Power. A Party may exercise a veto with respect to the following items: (a) the construction and/or acquisition of Projects, Works or Facilities within its boundaries; (b) the Agency's assumption of the Party's maintenance and operation responsibilities for currently existing levees, Projects, Facilities or Works; (c) the imposition of any assessment, fee, or charge within its boundaries to be levied for any Projects, Facilities or Works authorized pursuant to this Agreement other than the sales tax provided above.