Approval of the Members each mean the unanimous vote, consent, decision, determination, judgment, decree, instruction, authorization, waiver, resolution or other approval of all Members, each Member’s approval being a matter within such Member’s sole and absolute discretion. The phrases “Approved by the Management Committee” or “Approval of the Management Committee” each mean the consent, decision, determination, judgment, decree, instruction, authorization, waiver, resolution or other approval of the Management Committee acting as a committee, in the Management Committee’s sole and absolute discretion. The Members acknowledge that this Section 2.2 provides the sole method of determining the Approval of the Members and the Approval of the Management Committee; and the Members, to the extent permitted under the Act, hereby waive any right to contest or adjudicate such determination under Section 18-110(b) of the DLLCA.
Approval of the Members. “Approval by the Members” or similar phrases means the unanimous approval of the Members, excluding, with respect to any matter as to which a Capital Defaulting Member has no approval rights pursuant to Section 3.4, such Capital Defaulting Member.
Approval of the Members means a writing evidencing such approval or consent. When applied to such a particular class of Member, such terms shall mean approved by 70% in interest of such class. In any instance under this Agreement in which the consent or approval of a Member to any proposed action is required, such consent or approval shall be deemed to have been given unless written objection to such proposed action, stating with particularity grounds therefor, is sent by such objecting Member to the other Members within thirty (30) days after receipt of a written request for such consent or approval.
Examples of Approval of the Members in a sentence
Upon Approval of the Members, such budget shall be the initial “Annual Operating Budget” for the Company for purposes of this Agreement.
Except as permitted in this Agreement, including the exceptions contained in Section 9.1(b), no Member shall directly or indirectly Transfer or allow any Affiliate or other third party to Transfer, any part or all of its Interest or its share of capital, Net Profits, Net Losses, allocations or distributions hereunder without the prior Approval of the Members.
To request that the Members consent to or approve any matter or take any other action respecting the business and affairs of the Company which is required for Approval of the Members pursuant to this Agreement, the Managing Member must so notify the other Members in writing.
Notwithstanding any other provision of the Agreement, the Approval of the Members shall be required before the Company or the Managing Member may take any action that constitutes a “Major Decision” and any action taken by the Company or the Managing Member on behalf of the Company in contravention of this Section 7.3 shall be void ab initio and of no effect.
More Definitions of Approval of the Members
Approval of the Members means the affirmative vote, approval or consent of Members holding more than fifty percent (50%) of the Class B Common Units, provided that if at any time a court of competent jurisdiction shall hold that the Class B Common Stock of PublicCo is not entitled to vote, or shall enjoin the holders of the Class B Common Stock of PublicCo from exercising voting rights, (a) to elect solely all but one of the directors of PublicCo (except for any director(s) elected separately by the holders of one or more series of preferred stock of PublicCo), (b) on any other matter subject to a PublicCo shareholder vote, on the basis of (x) ten (10) votes for each share of Class B Common Stock of PublicCo held by the holders of Class B Common Stock, and for each share of Class B Common Stock for which any Units held directly or indirectly by such Persons are exchangeable, divided by (y) the number of shares of Class B Common Stock owned by such Persons, or (c) as a separate class, as to certain specified matters in the PublicCo's certificate of incorporation, as amended from time to time, that adversely affect the Class B Common Stock relating to issuance of Class B Common Stock and other equity securities other than Class A Common Stock or affecting the voting power of the Class B Common Stock, "Approval of the Members" means the affirmative vote, approval or consent of Members holding more than fifty percent (50%) of the Common Units. The conversion of all outstanding shares of Class B Common Stock into shares of Class A Common Stock in accordance with Clause (b)(viii) of Article Fourth of PublicCo's certificate of incorporation as constituted as of the Class B Common Measuring Date shall not constitute an event described in the proviso of the preceding sentence.
Approval of the Members means approval by all of the Members acting through their duly authorized representatives.
Approval of the Members means the affirmative vote, approval or consent of Members holding more than fifty percent (50%) of the Common Units. The conversion of all outstanding shares of Class B Common Stock into shares of Class A Common Stock in accordance with Clause (b)(viii) of Article Fourth of PublicCo's certificate of incorporation as constituted as of the Class B Common Measuring Date shall not constitute an event described in the proviso of the preceding sentence.
Approval of the Members means the affirmative vote, approval or consent of the Member(s) holding more than 50 percent of the Class B Units.
Approval of the Members or “Approved by the Members” means the vote or approval of the Members (at a meeting duly called) whose aggregate Sharing Percentage is more than eighty percent (80%) at the time the proposed Company action is being considered for approval. Such vote or approval shall constitute the action of the Members.
Approval of the Members and “Approved by the Members” means the unanimous written approval of all of the Members.
Approval of the Members means the affirmative vote, approval or consent of Members holding more than fifty percent (50%) of the Class B Common