Majority Vote of the Members means the affirmative vote of the holders of a majority of the Outstanding Units held by the Members, which may be evidenced by the written consent of such Members.
Majority Vote of the Members means the affirmative vote of a majority of the votes represented and voting at a meeting of the Members duly called at which a quorum is present.
Majority Vote of the Members means a vote of one or more Members holding Percentage Interests of greater than fifty percent (50%) of the total Percentage Interests of all the Members.
Examples of Majority Vote of the Members in a sentence
The Manager, or if none, the Persons or Persons selected by Majority Vote of the Members (the “Liquidator”) shall immediately proceed to wind up the affairs of the Company.
Notwithstanding any provision herein to the contrary, upon the final, non-appealable judgment of a court of competent jurisdiction that a Manager has committed a Cause Act, a Manager may be removed at a special meeting called for that purpose by a Majority Vote of the Members.
In the absence of a quorum, any meeting of Members may be adjourned from time to time by a Majority Vote of the Members represented either in person or by proxy entitled to vote, but no other matters may be proposed, approved or disapproved.
Notwithstanding Section 7.2, on and after the Conversion, the Manager may only be removed by a Majority Vote of the Members for an act or omission by the Manager related to the Company constituting gross negligence or fraud causing a material diminution of value in the Company or the Subsidiary Interest.
All amendments to this Agreement shall require a Majority Vote of the Members.
More Definitions of Majority Vote of the Members
Majority Vote of the Members means an affirmative vote by Members holding a majority of Member votes. A “majority vote of the other Members”, a “majority vote of the remaining Members” and a “majority vote of the non- dissociated members” means an affirmative vote of Members holding all Member votes except those held by a specified Member as the context requires. This Section 13.a shall be liberally construed in support of Section 13.f's intent.
Majority Vote of the Members means the affirmative vote, or written consent by proxy or otherwise, of the Members entitled to receive 51% or more of distributions of Cash Available for Distribution prior to Investment Recoupment at the applicable time of the decision.
Majority Vote of the Members means, with respect to any vote required or permitted to be taken by the Members, the vote of more than fifty percent (50%) of the outstanding Units or other voting securities of the Company entitled to vote on a particular matter. The Units or other securities held by a Person who is not permitted to vote by reason of a conflict of interest or for other reasons specified in this Agreement or the Act, shall not be counted as outstanding securities entitled to vote for these purposes.
Majority Vote of the Members means the approval, consent or authorization of the Members who own, at the time such action is taken, more than 50% of the Units of those Members entitled vote, whether such approval, consent or authorization is given at a Company meeting or through consents, proxies or other similar items in lieu of a Company meeting.
Majority Vote of the Members means the vote or written consent of Legacy.
Majority Vote of the Members or “the Members by a Majority Vote” means the affirmative vote of a majority of the Units outstanding at such time and entitled to vote, regardless of whether those Units are represented at a meeting at which a vote will be taken, and if reference is made to a class of Units, then the affirmative vote of a majority of the Units of that class of Units outstanding at such time and entitled to vote. “Manager” shall mean Terra International, Inc., a Delaware corporation, and any duly elected successors. If there shall be only one Manager serving, all references in this Agreement to “Managers” shall be deemed to refer to the single Manager. “Member” shall mean any Person who is admitted as a Member of the Company pursuant to this Agreement. “Member Loan Nonrecourse Deductions” shall mean any Company deductions that would be Nonrecourse Deductions if they were not attributable to a loan made or guaranteed by a Member within the meaning of Regulation Section 1.704-2(i). “Member Minimum Gain” has the meaning set forth in Regulation Section 1.704-2(i) for “partner nonrecourse debt minimum gain.” Membership Interest” means a Member’s limited liability company membership interest in the Company, represented by one or more Units held by the Member. “Minimum Gain” has the meaning set forth in Regulation Section 1.704-2(d). Minimum Gain shall be computed separately for each Member in a manner consistent with the Regulation under Code Section 704(b). “Negative Capital Account” shall mean a capital account with a balance of less than zero. “Net Income” or “Net Loss” shall mean the net income or net loss with respect to any accounting period of the Company determined in accordance with accounting principles generally and consistently applied by the Company. “Nonrecourse Deductions” has the meaning set forth in Regulation Section 1.704-2(b)(l). The amount of Nonrecourse Deductions for a taxable year of the Company equals the net increase, if any, in the amount of Minimum Gain during that taxable year, determined according to the provisions of Regulation Section 1.704-2(c). “Percentage Interest” shall mean, as to a Member, a fraction, the numerator of which is the number of Units held by that Member and the denominator of which is the number of all issued and outstanding Units. “Person” shall mean and includes any individual, corporation, partnership, association, limited liability company, trust, estate, or other entity.
Majority Vote of the Members means the written consent or affirmative vote of Members holding a majority of the issued and outstanding Voting Units, each Member being entitled to one vote per Voting Unit.