Unanimous Board Approval definition
Examples of Unanimous Board Approval in a sentence
The Company is formed for the purposes of (a) the development, construction, ownership and operation of the Renewable Fuels Facility, either directly or through its Subsidiaries (if any), and (b) any other lawful business, purpose or activity for which limited liability companies may be formed under the Act, subject to the terms and conditions of this Agreement, as may be approved from time to time by Unanimous Board Approval.
The Parties agree that time is and will be of the essence of this Agreement in all respects, including in respect of the consideration of matters requiring Unanimous Board Approval pursuant to Section 5.3.
The Company shall not authorize another class of units without Unanimous Board Approval, as provided for under Section 5.3(a) hereof.
Except as provided in Section 5.6, the Board shall approve, by Unanimous Board Approval each subsequent Operating Budget (or any material change thereto) for the relevant Fiscal Year (the “Approved Operating Budget”); provided, however, that any amendment to the then-existing Operating Budget pursuant to Section 4.4 of the Operating Agreement to reflect an Approved Required Upgrade shall not require such Unanimous Board Approval.