supermajority voting

supermajority voting
USA
This term has a number of meanings. In the context of:
• Finance, it is also known as requisite lender voting. A requirement for the affirmative vote of lenders holding more than a majority (usually 66 2/3%) of the amount of unused commitments and outstanding loans.
• Corporate, a requirement for the affirmative vote of more than the majority of the board (board of directors) or equity holders (often 66 2/3% or 80%). Supermajority voting is one of several anti-takeover defenses.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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