Requisite Member Approval definition

Requisite Member Approval means the approval of each Affiliated Member Group holding Interests with (i) an aggregate Percentage Interest equal to or exceeding ** or (ii) an **.

Requisite Member Approval means the approval of this Agreement by Members holding greater than 50% of the outstanding voting interests in the Company.

Requisite Member Approval means (a) Series A-1 Approval (but only if at the time in question the component of Series A-1 Approval is satisfied) and (b) Series A-2 Approval (but only if at the time in question the component of Series A-2 Approval is satisfied); provided, however, that, Requisite Member Approval does not require (i) any approval of any Series A-1 Member if, at the time in question, the component of Series A-1 Approval is not satisfied or (ii) any approval of any Series A-2 Member if, at the time in question, the component of Series A-2 Approval is not satisfied. Without limiting Section 8.4(d), during the Interim Period, any references to Requisite Member Approval shall be read consistently with Section 8.4(b).

Examples of Requisite Member Approval in a sentence

• If the Board with Requisite Member Approval determines to effect a Qualified Public Offering, each of the Members shall be granted customary registration rights, including piggyback registration rights, with respect to such Qualified Public Offering.

• Upon the termination of the Services Agreement, the Board with the Requisite Member Approval may cause the Company to designate a new operator and enter into a new services agreement.

• Without first obtaining the approval of the Board and Requisite Member Approval, the Tax Matters Member shall not, with respect to Company tax matters: (i) enter into a settlement agreement with respect to any tax matter which purports to bind Members, (ii) intervene in any action pursuant to Code Section 6226(b)(5), (iii) enter into an agreement extending the period of limitations for making assessments on behalf of Members, or (iv) file a petition pursuant to Code Section 6226(a) or 6228.

• Any rejection of the Proposed Budget in whole or in part must be made in good faith, based on commercially reasonable standards and submitted in writing to the Board, the other Members with Requisite Member Approval rights and the Operator and must describe proposed modifications in reasonable detail (a “Budget Rejection Notice”).

• Without first obtaining the approval of the Board and Requisite Member Approval, the Tax Matters Member shall not, with respect to Company tax matters: (i) enter into a settlement agreement with respect to any tax matter which purports to bind Members, (ii) intervene in any action pursuant to Code Section 6226(b)(6), (iii) enter into an agreement extending the period of limitations for making assessments on behalf of Members, or (iv) file a petition pursuant to Code Section 6226(a) or 6228.

More Definitions of Requisite Member Approval

Requisite Member Approval has the meaning set forth in Section 3.02(a).

Requisite Member Approval means the approval of this Agreement and the Transactions, including the Conversion and the Recapitalization, by the affirmative vote or written consent of the Founders, pursuant to the terms and in accordance with and satisfaction of the conditions of the Company’s Organizational Documents and applicable Law.

Requisite Member Approval means the approval of the sale of all outstanding Membership Interests of Seller by the Members to the Buyer as contemplated by this Agreement.

Requisite Member Approval means the approval of the Members that hold a majority of the issued and outstanding Series B Units.

Requisite Member Approval means the adoption of this Agreement and the approval of the Merger by the Members as required by Section 347.079 of the MRS and the Company’s Operating Agreement.

Requisite Member Approval. Section 2.4 “Returns” Section 2.16(a)(i)

Requisite Member Approval means the affirmative vote of the sole holder of the Target Interests.