Default rate clause: Copy, customize, and use instantly
Introduction
A default rate clause specifies the interest rate or penalty rate that applies when a party defaults on their obligations under the agreement. This clause is essential in ensuring that the party in breach is held accountable for not meeting the agreed terms, particularly in terms of late payments. It provides a clear penalty for default, which helps deter non-compliance and encourages timely performance under the agreement.
Below are templates for default rate clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.
Default rate clause for late payment
This variation applies when the default rate applies specifically to late payments.
If any payment due under this Agreement is not made within [insert number of days] days of the due date, the overdue amount shall accrue interest at a rate of [insert percentage]% per annum, calculated from the due date until the date of payment. The interest will be compounded monthly and added to the outstanding balance.
Default rate clause for interest on overdue sums
This variation applies when interest is charged on any overdue sums.
In the event that any sum due under this Agreement is not paid within [insert number of days] days from the due date, the outstanding amount shall bear interest at a rate of [insert percentage]% per annum, calculated on a daily basis, until the overdue sum is paid in full.
Default rate clause for escalating default interest
This variation applies when the default rate escalates after a certain period of default.
If any amount due under this Agreement is not paid within [insert number of days] days after the due date, interest will accrue on the overdue amount at a rate of [insert percentage]% per annum. If the overdue amount remains unpaid for more than [insert number of days], the interest rate will escalate to [insert higher percentage]% per annum, calculated from the date the payment was due.
Default rate clause for interest plus administrative fee
This variation applies when an additional administrative fee is charged in addition to the default rate.
If any payment due under this Agreement is not made within [insert number of days] days of the due date, the overdue amount shall incur interest at a rate of [insert percentage]% per annum, calculated on a daily basis. Additionally, an administrative fee of [$insert amount] will be applied to the overdue balance for each month the payment is delayed.
Default rate clause for compounded interest
This variation applies when interest is compounded on overdue amounts.
If any payment due under this Agreement is not paid within [insert number of days] days of the due date, interest shall be charged on the overdue amount at a rate of [insert percentage]% per annum. The interest shall be compounded monthly and will be added to the outstanding balance until the payment is made in full.
Default rate clause for minimum interest charge
This variation applies when a minimum interest charge is applicable in case of default.
In the event of default by the paying party, the overdue amount shall accrue interest at a rate of [insert percentage]% per annum. However, in no event shall the total interest due for any overdue sum be less than [$insert minimum amount], regardless of the length of time the payment remains overdue.
Default rate clause for interest and costs of collection
This variation applies when the default rate includes the costs of collection in the event of default.
If any payment due under this Agreement is not made within [insert number of days] days of the due date, the overdue sum will accrue interest at a rate of [insert percentage]% per annum. In addition to the interest, the defaulting party agrees to pay any reasonable costs of collection, including legal fees and expenses, incurred in the effort to recover the overdue amount.
Default rate clause for default on loan payments
This variation applies to a loan agreement where the default rate applies specifically to missed loan payments.
If any installment payment due under this loan Agreement is not made within [insert number of days] days of the due date, the unpaid amount will incur interest at a rate of [insert percentage]% per annum, compounded monthly. Interest will continue to accrue on the overdue amount until it is paid in full, including any accrued interest.
Default rate clause for default in performance obligations
This variation applies when the default rate is tied to a breach of performance obligations, not just payment.
In the event that either party fails to fulfill their performance obligations as set out in this Agreement, and such failure continues for [insert number of days] days after written notice, the defaulting party shall pay interest on the overdue obligations at a rate of [insert percentage]% per annum until performance is restored or the breach is remedied.
Default rate clause for non-payment of disputed amounts
This variation applies when a dispute exists regarding the payment, and interest is still due on the disputed amount.
If a party disputes an amount due under this Agreement and fails to resolve the dispute within [insert number of days] days, the disputed amount will still incur interest at a rate of [insert percentage]% per annum. The interest will accrue from the due date of the payment until the dispute is resolved and the payment is made.
Default rate clause for interest on milestone payments
This variation applies to milestone-based payments.
If any milestone payment due under this Agreement is not made within [insert number of days] days of the agreed-upon milestone completion date, the overdue amount will accrue interest at a rate of [insert percentage]% per annum, compounded monthly, until full payment is received.
Default rate clause for maximum interest rate
This variation applies when there is a cap on the interest rate.
In the event that any payment under this Agreement is overdue, the overdue amount will accrue interest at a rate of [insert percentage]% per annum, not to exceed [insert maximum rate]% per annum, regardless of the length of time the payment is overdue. The interest will be calculated on a daily basis until the overdue payment is made in full.
Default rate clause for late payment by installments
This variation applies when payments are made in installments, and a late payment will incur interest.
If any installment payment due under this Agreement is not paid within [insert number of days] days from the due date, the overdue installment will accrue interest at a rate of [insert percentage]% per annum, compounded monthly, until the overdue installment is paid. The interest will be added to the overdue installment and paid together with the next installment.
Default rate clause for calculation of interest on unpaid sums
This variation applies when the interest on unpaid sums is calculated from the due date.
If any payment due under this Agreement is not made within [insert number of days] days of the due date, the overdue amount will accrue interest at a rate of [insert percentage]% per annum, calculated from the due date to the date of full payment. The interest will be compounded quarterly and added to the outstanding balance.
Default rate clause for interest on unpaid invoices
This variation applies when default rate interest is specifically tied to unpaid invoices.
If any invoice issued under this Agreement remains unpaid for [insert number of days] days from the invoice date, the overdue amount will accrue interest at a rate of [insert percentage]% per annum. The interest will be calculated daily and compounded monthly, and will be added to the total outstanding invoice amount.
Default rate clause for escalating interest after certain period
This variation applies when the default rate increases after a certain period of overdue payments.
In the event that any payment due under this Agreement is not paid within [insert number of days] days, interest will be charged at a rate of [insert percentage]% per annum. If the payment remains overdue for more than [insert number of days], the interest rate will escalate to [insert higher percentage]% per annum, and will continue to accrue on the overdue amount until payment is made.
Default rate clause for a fixed penalty on default
This variation applies when a fixed penalty is imposed upon default, in addition to the interest rate.
If any payment due under this Agreement is not made within [insert number of days] days from the due date, the overdue amount shall incur a penalty of [$insert fixed amount] in addition to interest at a rate of [insert percentage]% per annum. The penalty shall be payable immediately upon the failure to meet the due date.
Default rate clause for compounded interest and late fee
This variation applies when both compounded interest and a late fee are imposed on overdue payments.
If any payment due under this Agreement is not made within [insert number of days] days, the overdue amount shall accrue compounded interest at a rate of [insert percentage]% per annum. Additionally, a late fee of [$insert fee amount] will be charged for each [insert period] period of delay until the payment is received in full.
Default rate clause for overdue payments with flat-rate interest
This variation applies when the overdue amount incurs a flat-rate interest penalty.
If any payment due under this Agreement is not made within [insert number of days] days of the due date, the overdue amount shall accrue interest at a flat rate of [insert percentage]% per annum, calculated from the due date until the payment is made. This interest will be added to the outstanding amount.
Default rate clause for daily interest accumulation
This variation applies when interest is calculated daily on the overdue amount.
If any amount due under this Agreement is not paid within [insert number of days] days of the due date, the overdue amount will incur daily interest at a rate of [insert percentage]% per annum, calculated on a daily basis, until the payment is received in full.
Default rate clause for compounded monthly interest
This variation applies when the overdue amount incurs interest that is compounded monthly.
If any payment remains unpaid for [insert number of days] days after the due date, interest will accrue on the overdue sum at a rate of [insert percentage]% per annum. The interest will be compounded monthly and added to the overdue balance until payment is received in full.
Default rate clause for penalty interest in case of late payment
This variation applies when a penalty interest is charged if the payment is overdue.
In the event that any payment is not made within [insert number of days] days from the due date, the overdue sum shall be subject to penalty interest at a rate of [insert percentage]% per annum. This penalty interest shall be compounded monthly and will continue to accrue until the full payment is made.
Default rate clause for escalating interest rate due to prolonged default
This variation applies when the interest rate escalates if the payment is overdue for a longer period.
If a payment due under this Agreement remains unpaid for more than [insert number of days], the interest rate on the overdue amount will increase from [insert initial percentage]% to [insert higher percentage]%, and will continue to accrue until the overdue amount is fully paid.
Default rate clause for interest rate with late fee
This variation applies when a late fee is added in addition to the interest rate.
Any overdue payment under this Agreement will incur interest at a rate of [insert percentage]% per annum, compounded monthly. Additionally, a late fee of [$insert fee amount] will be charged for every [insert time period] the payment remains overdue until the payment is received in full.
Default rate clause for fixed percentage interest on overdue amounts
This variation applies when a fixed interest rate applies to overdue amounts.
If any sum due under this Agreement is not paid within [insert number of days] days, the overdue amount will bear interest at a fixed rate of [insert percentage]% per annum, calculated from the due date until full payment is made.
Default rate clause for interest on overdue amounts with minimum penalty
This variation applies when there is a minimum penalty interest charge.
In the event that any payment is overdue by more than [insert number of days], interest will accrue on the overdue amount at [insert percentage]% per annum. If the interest accrued is less than [$insert minimum amount], the party owing the payment agrees to pay the minimum penalty amount of [$insert amount].
Default rate clause for simple interest on overdue amounts
This variation applies when interest is calculated simply on the overdue amount.
If any payment under this Agreement is not received within [insert number of days] days of the due date, the overdue amount will incur simple interest at a rate of [insert percentage]% per annum, calculated daily, until the payment is made.
Default rate clause for compounded interest with late fee
This variation applies when both compounded interest and a late fee are applied.
If any payment due under this Agreement is not made within [insert number of days] days, the overdue amount shall accrue compounded interest at a rate of [insert percentage]% per annum. Additionally, a late fee of [$insert fee amount] will be charged for every [insert period] of delay until the payment is received in full.
Default rate clause for fixed late payment fee and interest
This variation applies when a fixed fee is added to the overdue amount alongside interest.
Any overdue payment under this Agreement will be subject to a late payment fee of [$insert fee amount] in addition to interest at a rate of [insert percentage]% per annum. The interest will accrue on the overdue amount daily and will continue to accumulate until the balance is paid.
Default rate clause for interest on late payments with compounding quarterly
This variation applies when interest is compounded quarterly on late payments.
If any payment due under this Agreement is not made within [insert number of days] days, the overdue amount will accrue interest at a rate of [insert percentage]% per annum, compounded quarterly, and will continue to compound until the payment is fully made.
Default rate clause for fixed percentage interest on overdue obligations
This variation applies when a fixed interest rate is applied to overdue obligations under the Agreement.
If any debt due under this Agreement is not paid within [insert number of days] days of the due date, the debt will incur interest at a rate of [insert percentage]% per annum, compounded annually. This interest will accumulate from the due date until the overdue debt is fully settled.
Default rate clause for default interest following a breach of agreement
This variation applies when interest is charged following a breach of the Agreement.
If a party defaults in performing its obligations under this Agreement, and such default continues for [insert number of days] days after written notice, the defaulting party shall incur interest on the overdue amount at a rate of [insert percentage]% per annum, calculated from the due date until payment is made.
Default rate clause for interest after default on loan payments
This variation applies specifically to loan payments and the interest charged on overdue payments.
If any installment payment due under this loan Agreement is not made within [insert number of days] days of the due date, the unpaid amount will incur interest at a rate of [insert percentage]% per annum, compounded monthly. Interest will continue to accrue on the overdue amount until it is paid in full, including any accrued interest.
Default rate clause for escalating interest after a certain period
This variation applies when the interest rate increases after a specific period of overdue payment.
If any payment due under this Agreement is overdue for more than [insert number of days], the interest rate on the overdue amount will increase to [insert higher percentage]% per annum, and will continue to accrue on the overdue amount until payment is made.
Default rate clause for interest on overdue invoices
This variation applies when interest is charged on overdue invoices.
If any invoice issued under this Agreement remains unpaid for more than [insert number of days] days, the overdue invoice will accrue interest at a rate of [insert percentage]% per annum, compounded monthly, and this interest will continue to be added to the outstanding amount until full payment is made.
Default rate clause for interest and collection costs
This variation applies when both interest and collection costs are charged on overdue payments.
If any payment is overdue for more than [insert number of days] days, the overdue sum will incur interest at [insert percentage]% per annum. In addition, the defaulting party will be responsible for any collection costs, including legal fees and expenses, incurred in recovering the overdue payment.
Default rate clause for compounded interest on overdue invoices
This variation applies when interest on overdue invoices is compounded on a monthly basis.
If any invoice under this Agreement remains unpaid for more than [insert number of days] days, the overdue invoice will accrue interest at a rate of [insert percentage]% per annum, compounded monthly, and will continue to compound until the payment is fully made.
Here are more examples of default rate clauses with checks for repetition:
Default rate clause for delayed payment with fixed interest
This variation applies when a fixed interest rate is charged for delayed payments.
If any payment due under this Agreement is not made within [insert number of days] days from the due date, the overdue amount will accrue interest at a rate of [insert percentage]% per annum, calculated on a daily basis, until full payment is made.
Default rate clause for late payment interest with weekly compounding
This variation applies when interest on overdue amounts is compounded weekly.
If any amount due under this Agreement remains unpaid for more than [insert number of days] days, the overdue amount shall accrue interest at a rate of [insert percentage]% per annum, compounded weekly, until the overdue sum is paid in full.
Default rate clause for penalty interest with automatic accrual
This variation applies when penalty interest automatically accrues on overdue payments.
If any payment due under this Agreement is not received within [insert number of days] days, the overdue payment will automatically incur interest at a penalty rate of [insert percentage]% per annum, calculated from the due date and added to the outstanding amount until the payment is made.
Default rate clause for daily interest with a minimum fee
This variation applies when daily interest is applied with a minimum interest fee.
If any payment is overdue for more than [insert number of days] days, interest will be charged on the overdue amount at a rate of [insert percentage]% per annum, calculated daily. The minimum interest fee for overdue amounts will be [$insert amount], regardless of the overdue period.
Default rate clause for increased interest after continued delay
This variation applies when the interest rate increases if a payment remains overdue for a prolonged period.
If any payment due under this Agreement is not paid within [insert number of days], the interest rate will increase from [insert initial percentage]% to [insert higher percentage]% per annum after [insert number of days] days of delay. The new interest rate will apply until the overdue payment is settled.
Default rate clause for late payment with additional administrative fee
This variation applies when an administrative fee is charged along with the default interest.
If any payment due under this Agreement is not made within [insert number of days] days, the overdue amount shall incur interest at a rate of [insert percentage]% per annum. In addition, a late payment fee of [$insert amount] will be charged to cover administrative costs incurred due to the late payment.
Default rate clause for cumulative interest on overdue amounts
This variation applies when interest is calculated cumulatively on overdue amounts.
If any payment under this Agreement is overdue for more than [insert number of days] days, the overdue amount will accrue interest at a rate of [insert percentage]% per annum, compounded annually, with the cumulative interest being added to the outstanding balance until full payment is received.
Default rate clause for interest rate adjustment based on market conditions
This variation applies when the interest rate adjusts based on market conditions.
If any payment under this Agreement is overdue for more than [insert number of days] days, the overdue amount will accrue interest at a rate of [insert percentage]% per annum, which may be adjusted based on fluctuations in the prevailing market interest rates. The adjusted rate will be applied from the day the payment is overdue.
Default rate clause for interest on overdue payments in installments
This variation applies when overdue payments are made in installments and interest is charged accordingly.
If any installment payment due under this Agreement is not paid within [insert number of days] days of the due date, the overdue amount will incur interest at a rate of [insert percentage]% per annum, compounded monthly. The interest will be calculated and added to the overdue installment amount until full payment is received.
Default rate clause for penalty interest after a grace period
This variation applies when a grace period is allowed before penalty interest is applied.
If any payment due under this Agreement is not made within [insert number of days] days, a grace period of [insert number of days] days will be allowed. After the grace period, the overdue amount will incur penalty interest at a rate of [insert percentage]% per annum until the amount is paid in full.
Default rate clause for interest rate increase after non-payment of invoices
This variation applies when the interest rate increases after a set period of non-payment of invoices.
If any invoice issued under this Agreement remains unpaid for more than [insert number of days] days, the overdue amount will accrue interest at a rate of [insert percentage]% per annum, increasing to [insert increased percentage]% after [insert number of days] days of non-payment, until the full payment is made.
Default rate clause for interest on unpaid amounts with a fixed penalty
This variation applies when a fixed penalty is charged on unpaid amounts in addition to the interest rate.
If any payment due under this Agreement remains unpaid for more than [insert number of days] days, the overdue amount will accrue interest at a rate of [insert percentage]% per annum, and a fixed penalty of [$insert amount] will be charged for each [insert period] of delay, in addition to the interest.
Default rate clause for interest with a maximum cap
This variation applies when there is a cap on the maximum interest that can accrue on overdue payments.
If any payment is overdue by more than [insert number of days] days, interest will accrue on the overdue amount at a rate of [insert percentage]% per annum. However, the total interest due shall not exceed [$insert maximum amount] regardless of the length of time the payment is overdue.
Default rate clause for penalty interest with daily accrual
This variation applies when penalty interest is calculated daily on overdue amounts.
If any payment due under this Agreement is overdue for more than [insert number of days] days, the overdue amount shall accrue penalty interest at a rate of [insert percentage]% per annum, calculated daily, until full payment is made.
Default rate clause for interest and recovery costs
This variation applies when both interest and recovery costs are included in the default rate.
In the event that any payment is overdue under this Agreement for more than [insert number of days] days, interest at a rate of [insert percentage]% per annum will accrue on the overdue amount. Additionally, the defaulting party agrees to pay any reasonable costs of collection, including legal fees, associated with the recovery of the overdue payment.
Default rate clause for an increasing interest rate after long-term overdue
This variation applies when the interest rate increases over time as the overdue amount persists.
If any amount due under this Agreement is overdue for more than [insert number of days], the interest rate will increase from [insert initial percentage]% to [insert higher percentage]% after [insert extended number of days] days. The increased interest will continue to accumulate until the overdue balance is fully paid.
Default rate clause for interest with the option of early settlement
This variation applies when an early settlement option is available with a reduced default interest rate.
If any payment under this Agreement is overdue for more than [insert number of days] days, interest will accrue at a rate of [insert percentage]% per annum. However, if the overdue payment is settled within [insert number of days], the interest rate will be reduced to [insert lower percentage]% for the period of delay.
Default rate clause for interest on overdue payments with a fixed percentage
This variation applies when a fixed interest rate is charged for overdue payments.
If any payment due under this Agreement is not made within [insert number of days] days from the due date, the overdue amount will accrue interest at a fixed rate of [insert percentage]% per annum, calculated from the due date until full payment is made.
Default rate clause for escalating interest after a certain period of overdue
This variation applies when the interest rate increases after a certain period of overdue payment.
If any amount due under this Agreement is overdue for more than [insert number of days] days, the interest rate will increase from [insert percentage]% to [insert higher percentage]% per annum, and the higher rate will apply until the overdue payment is made in full.
Default rate clause for compounded interest with quarterly payments
This variation applies when interest is compounded quarterly.
If any payment under this Agreement is overdue for more than [insert number of days] days, interest will accrue on the overdue amount at a rate of [insert percentage]% per annum, compounded quarterly. This interest will continue to accrue until the overdue amount is fully paid.
Default rate clause for interest with late fee
This variation applies when a late fee is added to the interest on overdue payments.
If any payment is overdue for more than [insert number of days] days, the overdue sum shall incur interest at a rate of [insert percentage]% per annum. Additionally, a late fee of [$insert amount] will be added to the overdue amount for every [insert time period] of delay.
Default rate clause for daily compounded interest on overdue amounts
This variation applies when daily compounded interest is charged on overdue payments.
If any payment remains unpaid for more than [insert number of days] days, the overdue amount shall accrue interest at a rate of [insert percentage]% per annum, compounded daily, until the payment is made in full.
Default rate clause for fixed interest with a minimum penalty fee
This variation applies when a fixed interest rate is used along with a minimum penalty fee.
If any payment is overdue by more than [insert number of days], the overdue amount will accrue interest at a fixed rate of [insert percentage]% per annum. In addition, a minimum penalty fee of [$insert amount] will be applied to any overdue payment, regardless of the length of the delay.
Default rate clause for interest on overdue payments after a grace period
This variation applies when a grace period is allowed before interest is charged.
In the event that a payment is overdue for more than [insert number of days] days, the overdue amount will begin to accrue interest at a rate of [insert percentage]% per annum, calculated from the date the grace period expires until the payment is made in full.
Default rate clause for interest on overdue payments plus a fixed penalty amount
This variation applies when a fixed penalty amount is added to the overdue balance in addition to interest.
If any payment is overdue for [insert number of days] days or more, the overdue sum will incur interest at a rate of [insert percentage]% per annum. Furthermore, a fixed penalty of [$insert amount] will be charged for each [insert time period] the payment remains overdue.
Default rate clause for compounded monthly interest
This variation applies when interest is compounded monthly on overdue amounts.
If any amount due under this Agreement is overdue by more than [insert number of days], the overdue amount will accrue compounded interest at a rate of [insert percentage]% per annum, calculated monthly, until the overdue balance is settled.
Default rate clause for non-payment with a fixed penalty
This variation applies when a fixed penalty is imposed on non-payment, in addition to interest.
If any payment is overdue for more than [insert number of days], a fixed penalty of [$insert amount] will be charged in addition to the interest on the overdue amount, which will accrue at a rate of [insert percentage]% per annum until full payment is made.
Default rate clause for interest with no maximum cap
This variation applies when there is no maximum cap on the interest charged for overdue payments.
If any payment under this Agreement remains overdue for more than [insert number of days], the overdue amount will accrue interest at a rate of [insert percentage]% per annum, compounded monthly. There is no cap on the amount of interest that may accrue during the overdue period.
Default rate clause for interest rate increase after prolonged delay
This variation applies when the interest rate increases after an extended delay in payment.
If a payment due under this Agreement is overdue for more than [insert number of days], the interest rate on the overdue amount will increase from [insert initial percentage]% to [insert increased percentage]% per annum, and the new rate will apply until the payment is made in full.
Default rate clause for penalty interest and collection costs
This variation applies when both penalty interest and collection costs are imposed on overdue payments.
If any payment remains overdue for more than [insert number of days], the overdue sum will accrue penalty interest at a rate of [insert percentage]% per annum. In addition, the defaulting party will be responsible for any costs of collection, including legal fees, incurred in recovering the overdue payment.
Default rate clause for interest on overdue payments with fixed compounding
This variation applies when interest is compounded at a fixed rate on overdue payments.
If any payment due under this Agreement is not made within [insert number of days] days of the due date, the overdue amount will accrue interest at a fixed rate of [insert percentage]% per annum, compounded monthly, and the interest will continue to accrue until the payment is received in full.
Default rate clause for escalating interest after 30 days of overdue
This variation applies when the interest rate increases after 30 days of overdue payment.
If any payment under this Agreement is overdue for more than 30 days, interest will accrue on the overdue amount at a rate of [insert percentage]% per annum. After 30 days, the interest rate will escalate to [insert higher percentage]% per annum, and this rate will apply until the overdue amount is paid in full.
Default rate clause for interest on overdue sums with a minimum fee
This variation applies when a minimum interest fee is charged along with the default interest.
If any payment due under this Agreement is not made within [insert number of days] days, the overdue amount will incur interest at a rate of [insert percentage]% per annum. However, the minimum interest charge for any overdue amount will be [$insert minimum amount], regardless of the amount overdue.
Default rate clause for compound interest with a ceiling limit
This variation applies when compound interest is charged, but a ceiling limit is applied.
If any payment under this Agreement remains overdue for more than [insert number of days], interest at a rate of [insert percentage]% per annum will accrue on the overdue amount. The interest will be compounded monthly, but the total interest charged will not exceed [$insert maximum amount], regardless of how long the payment remains overdue.
Default rate clause for interest on overdue payments with grace period
This variation applies when there is a grace period before interest is applied.
In the event that any payment remains overdue for more than [insert number of days] days after the due date, interest will accrue on the overdue amount at a rate of [insert percentage]% per annum, calculated from the date the grace period expires until the overdue amount is paid in full.
Default rate clause for interest on overdue sums with periodic escalation
This variation applies when the interest rate escalates periodically on overdue payments.
If any payment under this Agreement is overdue for more than [insert number of days], the overdue amount will accrue interest at a rate of [insert percentage]% per annum. After [insert number of days], the interest rate will increase to [insert higher percentage]%, and this escalation will continue at regular intervals until the overdue amount is paid in full.
Quorum for general meetings of members
This variation applies when determining the quorum for a general meeting of members.
A quorum for any general meeting of members shall consist of [number or percentage] of the total membership, present in person or by proxy.
Quorum for shareholder meetings
This variation applies when determining the quorum for a shareholder meeting.
A quorum for any meeting of the shareholders shall consist of shareholders holding at least [percentage] of the outstanding shares entitled to vote, present in person or by proxy.
Quorum for board of directors meetings
This variation applies when determining the quorum for a board of directors meeting.
A quorum for any meeting of the board of directors shall consist of a majority of the total number of directors then in office, present in person or by proxy.
Quorum for special meetings
This variation applies when determining the quorum for a special meeting.
A quorum for any special meeting shall consist of at least [percentage] of the members entitled to vote, present in person or by proxy.
Quorum for partnership meetings
This variation applies when determining the quorum for a partnership meeting.
A quorum for any meeting of the partners shall consist of at least [number or percentage] of the partnership interests.
Quorum for annual meetings
This variation applies when determining the quorum for an annual meeting.
A quorum for the annual meeting shall consist of [percentage] of the members entitled to vote, present in person or by proxy.
Quorum for committee meetings
This variation applies when determining the quorum for a committee meeting.
A quorum for any committee meeting shall consist of a majority of the committee members, present in person or by proxy.
Quorum for decision-making meetings
This variation applies when determining the quorum for a decision-making meeting.
A quorum for any decision-making meeting shall consist of [number or percentage] of the participants, present in person or by proxy.
Quorum for virtual meetings
This variation applies when determining the quorum for a virtual meeting.
A quorum for any virtual meeting shall consist of at least [percentage] of the total number of eligible participants, either in person or via electronic communication.
Quorum for extraordinary meetings
This variation applies when determining the quorum for an extraordinary meeting.
A quorum for any extraordinary meeting shall consist of [percentage] of the total number of members or directors, present in person or by proxy.
Quorum for special voting meetings
This variation applies when determining the quorum for a meeting involving special voting matters.
A quorum for any meeting involving voting on special matters shall require the presence of shareholders or members holding at least [percentage] of the voting rights, in person or by proxy.
Quorum for meetings involving a vote on resolutions
This variation applies when determining the quorum for a meeting involving a vote on resolutions.
A quorum for any meeting where resolutions are to be voted on shall require the presence of [percentage] of the voting members, present in person or by proxy.
Quorum for meetings of a limited liability company (LLC)
This variation applies when determining the quorum for an LLC meeting.
A quorum for any LLC meeting shall consist of members holding at least [percentage] of the LLC's membership interests, either in person or by proxy.
Quorum for remote participation meetings
This variation applies when determining the quorum for a remote participation meeting.
A quorum for meetings allowing remote participation shall require the presence of [percentage] of the members, either present in person or through telecommunication methods.
Quorum for advisory board meetings
This variation applies when determining the quorum for an advisory board meeting.
A quorum for any advisory board meeting shall consist of at least [number] of the total members. If no quorum is present, the meeting shall be adjourned.
Quorum for voting on major decisions
This variation applies when determining the quorum for meetings involving major decisions, such as mergers or acquisitions.
A quorum for any vote on major decisions, including mergers and acquisitions, shall require the presence of shareholders or members holding at least [percentage] of the voting rights.
Quorum for executive meetings
This variation applies when determining the quorum for an executive meeting.
A quorum for any executive meeting shall consist of at least [percentage] of the executive team members, present in person or by proxy.
Quorum for non-profit meetings
This variation applies when determining the quorum for a non-profit meeting.
A quorum for any meeting of a non-profit organization shall consist of at least [percentage] of the total membership, present in person or by proxy.
Quorum for joint venture meetings
This variation applies when determining the quorum for a joint venture meeting.
A quorum for any joint venture meeting shall consist of at least [percentage] of the joint venture partners, present in person or by proxy.
Quorum for general business meetings
This variation applies when determining the quorum for a general business meeting.
A quorum for any general business meeting shall consist of [number] of the total members present in person or by proxy.
Quorum for meetings involving amendments to governing documents
This variation applies when determining the quorum for meetings involving proposed amendments to governing documents.
A quorum for any meeting involving proposed amendments to the governing documents shall require at least [percentage] of the members entitled to vote, present in person or by proxy.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.