Ordinary Decision definition
Examples of Ordinary Decision in a sentence
The Board of Managers may, from time to time, by Ordinary Decision, authorize the Management Team to, on behalf of the Company, surrender or abandon any part of the Properties (the "Abandoned Property").
Except in respect of either a Special Majority Decision or a Unanimous Decision and unless otherwise provided in this Agreement, the vote of the Appointees representing Members with an aggregate Percentage Interest greater than 50% shall determine all approvals, decisions and determinations of the Board of Managers (an "Ordinary Decision").
The Board of Managers shall, within a period of 60 days following the delivery by the Management Team to the Board of Managers of the proposed FS Program and Budget for the preparation and completion of a Feasibility Study, meet to consider such draft FS Program and Budget, together with the Finance and Audit Committee's recommendation in respect thereof, and, if so determined, to adopt such draft FS Program and Budget by Ordinary Decision in accordance with Section 5.15(c).
When Operations at any Mine at the Two Projects and related Facilities cease or are scheduled to cease, the Management Team shall, in accordance with Section 7.4(a), prepare and submit to the Board of Managers for adoption by Ordinary Decision, a Program and Budget and corresponding Funding Plan for Closure Operations in respect of such Mine (a "Closure Program and Budget").
Each proposed Closure Program and Budget shall have a Program Period of one Year unless otherwise approved by the Board of Managers by Ordinary Decision and shall be prepared in compliance with any closure plans adopted in respect of the Company from time to time.
All proposed Programs and Budgets prepared in accordance with this Section 7.4(a) may be adopted only upon a favorable vote of the Board of Managers by way of an Ordinary Decision.
The Board of Managers may, by: (a) Ordinary Decision in accordance with Section 5.15(c), adopt such proposed Supplemental Program and Budget and corresponding Funding Plan in respect of a proposed excess over the Regular Overrun Threshold; or (b) Special Majority Decision in accordance with Section 5.16(b), adopt such proposed Supplemental Program and Budget and corresponding Funding Plan in respect of a proposed excess over the Major Overrun Threshold.
In accordance with section 9.3, Programs and Budgets shall generally be prepared on an annual calendar year basis (and separately for each JV Company) and initially proposed by the Service Provider and may be Approved or modified by Ordinary Decision.
For Management Committee deadlock in connection with Ordinary Decision matters under section 5.10, the following expedited process shall apply using “final offer” resolution procedures.
At all meetings of the Steering Committee, every question in respect of any Ordinary Decision, shall be decided by the vote of the member of the Steering Committee at the meeting who was appointed by CSERELP, provided that a quorum is present in accordance with terms of reference set forth in Schedule C.