Venture Deals · glossary
The smallest attendance at which a board meeting can decide anything. Solaris’s quorum is two directors, one of them an Investor Director, but an adjourned meeting can go ahead with any two. Article 19 · Chapter 11
Explained in Chapter 11, Control: the Board, Consent Matters and Information Rights, of Venture Deals.
The main page for this term is Quorum, in Shareholders' Agreements.
The power lies in the quorum, the smallest attendance at which a meeting can decide anything. Here the quorum is two directors, one of them an Investor Director. A written resolution also needs an Investor Director's signature (clause 13.4, article 19.1). If Meridian's directors stay away, the meeting cannot decide anything that day.Read Chapter 11, Control: the Board, Consent Matters and Information Rights →
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