Supermajority Approval definition

Supermajority Approval has the meaning set forth in Section 4.10.

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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

Subject to the receipt of Supermajority Approval, the Company may enter into one or more management services agreements and other related agreements as are reasonably necessary for the operation of the Company (collectively, the “Services Agreements”), including that certain Master Services Agreement between the Company and BKV Corp entered into as of the date hereof.
The Company may, with Supermajority Approval (if the associated issuance of Units requires such approval pursuant to Section 7.05(e)), issue additional Units as are required to be issued from time to time pursuant to this Agreement or as may otherwise be so approved.
Unless otherwise approved with Supermajority Approval, the Company shall either (A) monetize its 45Q Carbon Capture Tax Credits using the direct-pay election in accordance with Section 6417 of the Code (“Direct Pay”) for so long as Direct Pay is available to the Company with respect to such 45Q Carbon Capture Tax Credits related to each Project or (B) sell such 45Q Carbon Capture Tax Credits to one or more third parties.
Notwithstanding the foregoing, the Company shall not engage, directly or indirectly, in Projects or other activities relating to enhanced oil recovery unless approved with Supermajority Approval.
The Company shall (a) exercise all rights with respect to all Related Party Transactions in the ordinary course of business and on an arm’s-length basis as a fiduciary of the Company and (b) not take any action in respect of a Related Party Transaction that requires Supermajority Approval under Section 7.04 without Supermajority Approval.

More Definitions of Supermajority Approval

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

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 66% of the entire Board or

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.; provided, however, with respect to the approval of the issuance of Common Stock by the Company in a primary underwritten offering by the Company of Common Stock within four months after the Effective Time resulting in gross proceeds of not less than $90 million, Supermajority Approval shall mean approval by action of at least a majority of all of the members of the Board of Directors which shall include not less than all of the Directors whom the ERI Parties and the WELLC 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 means Board Approval, and (i) for so long as GM and its Affiliates collectively hold at least 10% of the outstanding Units, either (a) the approval of at least one GM Designee, if any, as part of such Board Approval, or (b) if GM has not appointed any GM Designee but has the right to do so, the approval of GM as a Member, (ii) for so long as LAC and its Affiliates collectively hold at least 10% of the outstanding Units, either (a) the approval of at least one LAC Designee, if any, as part of such Board Approval, or (b) if LAC has not appointed any LAC Designee but has the right to do so, the approval of LAC as a Member, and (iii) for each other Member holding at least 10% of the outstanding Units, either (a) the approval of at least one Director appointed by such Member, if any, as part of such Board Approval or (b) if such Member has not appointed any Directors but has the right to do so, the approval of such Member as a Member.