Supermajority Voting | Practical Law

Supermajority Voting | Practical Law

Supermajority Voting

Supermajority Voting

Practical Law Glossary Item 4-382-3856 (Approx. 2 pages)

Glossary

Supermajority Voting

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 or equity holders (often 66 2/3% or 80%). Supermajority voting is one of several anti-takeover defenses.