Examples of Majority Decision in a sentence
Each Decision-Eligible Note A Holder who delivers to the Lead Special Servicer an affirmative approval of or objection to a Majority Decision shall use commercially reasonable efforts to notify the other Decision-Eligible Note A Holders of such approval or objection but a failure to provide such notice shall not limit the effectiveness of the approval (or deemed approval) or objection delivered by such Decision-Eligible Note A Holder to the Lead Special Servicer.
No Person who constitutes a Decision-Eligible Note A Holder with respect to an Extraordinary Major Decision under subsection (d) or a Majority Decision under subsection (e) shall also be entitled to non-binding consultation with the Lead Special Servicer with respect to such Extraordinary Major Decision or such Majority Decision, as the case may be, notwithstanding that such Person may otherwise then constitute a Consulting Party.
In connection with any such Majority Decision, the Decision-Eligible Note A Holders may but need not consult with each other to consider whether the Extraordinary Major Decision should be approved or disapproved.
In the event that the requisite percentage of Holders have not approved (or been deemed approved) any Majority Decision, Super-Majority Decision or a Unanimous Decision, the Servicer shall not take such action.
In the case of clause (i) above, each Holder other than a Borrower Affiliate Holder shall have their aggregate Percentage Interest in the Mezzanine Loan “grossed up” on account of the Borrower Affiliate Holder’s Percentage Interest in the Mezzanine Loan for the purposes of calculating a Majority Decision, a Super-Majority Decision, or a Unanimous Decision and for all other related purposes hereunder.