Supermajority Approval definition

Supermajority Approval has the meaning set forth in Section 4.10.

Supermajority Approval means with respect to any matter that must be approved by the Stockholders pursuant to this Agreement: (a) the affirmative vote of Stockholders holding at least 60% of the issued and outstanding voting Shares; or (b) the written consent of the Stockholders holding at least 60% of the issued and outstanding voting Shares.

Supermajority Approval means, when used with respect to the Board, 75.0% approval by the Directors (calculated by reference to the Equity Percentage Interest of the Members that appointed the Directors); and, when used with respect to the Members, 75.0% approval by the Members (calculated by reference to the Equity Percentage Interest of such Members).

Examples of Supermajority Approval in a sentence

• Upon dissolution of the Company and subject to the provisions of Section 7.5 hereof, the Members, or, if none, a liquidator elected by Supermajority Approval, shall liquidate the assets of the Company, apply and distribute the proceeds thereof under Article VI, and cause the termination of the Agreement.

• All officers shall be elected for two (2)-year terms by the Board, acting by Supermajority Approval, at any duly convened meeting of the Board.

• Except as set forth in this Article III, and except with Supermajority Approval pursuant to Section 7.4 hereof, no Member or Manager shall be entitled, obligated or required to make any loan to or guarantee a loan for the Company or make any Capital Contribution to the Company in addition to his or her Capital Contribution made pursuant to Section 3.2(a) hereof.

• The overall management and control of the business and affairs of the Company shall be vested in the Board of Managers, acting by Approval or Supermajority Approval of the Board of Managers as described below, but subject to the Member protections as set forth in Section 7.5 hereof.

• Any borrowing of funds exceeding $250,000 shall require Supermajority Approval of the Board.

More Definitions of Supermajority Approval

Supermajority Approval means approval of individuals or entities holding at least two-thirds (2/3) of the Company’s issued and outstanding Voting Interests.

Supermajority Approval means, with respect to any matter that must be approved by the Board, (a) the affirmative vote at a meeting of the Board of at least eighty percent (80%) of the Directors or (b) the unanimous written consent of the entire Board in lieu of a meeting.

Supermajority Approval means approval by action of at least a majority of all of the members of the Board of Directors which shall include not less than one less than all of the Directors whom the Parties then have the right to nominate pursuant to Section 3.2.

Supermajority Approval means the written consent or approval of greater than sixty six (66%) percent of the Board of Managers.

Supermajority Approval has the meaning set forth in Section 7.05(e).

Supermajority Approval means with respect to any matter that must be approved by the Board (a) the affirmative vote at a meeting of the Board of the entire Board or (b) the unanimous written consent of the entire Board in lieu of a meeting.

Supermajority Approval means (i) with respect to the Board, the Approval of *** Directors and (ii) with respect to the Members, the Approval of Members holding an aggregate Percentage Interest in excess of ***; provided that in the event that either of HTI or QC cease to own at least *** of the respective number of Units owned by each such Initial Member on the Effective Date (as adjusted for conversions, Unit splits and the like), Supermajority Approval shall be deemed to mean, with respect to the Board, Approval of a majority of the Directors of the Board with respect to the Board and, with respect to the Members, the Approval of Members holding an aggregate Percentage Interest in excess of ***.