DISPUTES OF MEMBERS Sample Clauses

DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A Member has votes according to that Member’s percent of ownership interest (e.g., 11% ownership equals 11 votes). A majority vote is necessary for an action to take place. Any vote under this Section may occur, provided a quorum of the membership interests is present for the vote. In the event of a split vote among the Members, the Chief Executive Member shall cast a vote to break the tie. Members are required to vote on at least one (1) resolution that attempts to address and resolve the dispute among the Members prior to any Member bringing a direct action under Section 4131 of the Statutes. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.
Sample 1Sample 2Sample 3See All (155)
AutoNDA by SimpleDocs
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A Member has votes according to that Member’s percent of ownership interest (e.g., 11% ownership equals 11 votes). A majority vote is necessary for an action to take place. Any vote under this Section may occur, provided a quorum of the membership interests is present for the vote. In the event of a split vote among the Members, the Manager(s) shall cast a vote to break the tie. Members are required to vote on at least one resolution that attempts to address and resolve the dispute between the Members prior to any Member bringing a direct action under Section 10A-5A-9.01 of the Law. Subject to Section 10A-5A-9.02 of the Law, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the Manager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.
Sample 1Sample 2See All (25)
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A member has the amount of votes according to the Members percent of interest. (Example: 11% is 11 votes.) There has to be a majority vote for an action to take place.
Sample 1Sample 2Sample 3See All (10)
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A Member has votes according to that Member’s percent of ownership interest (e.g., 11% ownership equals 11 votes). A majority vote is necessary for an action to take place. Any vote under this Section may occur, provided a quorum of the membership interests is present for the vote. In the event of a split vote among the Members, the Chief Executive Member shall cast a vote to break the tie. Members are required to vote on at least one (1) resolution that attempts to address and resolve the dispute among the Members prior to any Member bringing a direct action under this Agreement. Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.
Sample 1Sample 2See All (6)
DISPUTES OF MEMBERS. Disputes among Members will be decided by a qualified majority vote by the Members holding the governance tokens. A Member has votes proportional to that Member’s amount of governance tokens (e.g., 11% such tokens equals 11 votes). A qualified majority vote is necessary for an action to take place. Any vote under this Section may occur, provided a quorum of the membership interests and/or governance tokens is present for the vote. In the event of a split vote among the Members, the status quo remains, and no deviating action may occur. Members are required to vote on at least one resolution that attempts to address and resolve the dispute between the Members prior to any Member bringing a direct action under Section 00-00-000 of the Act. Members may maintain a derivative action to enforce a right of the DAO, provided the acting Member properly demands the other Member(s) holding governance tokens to enforce the right of the DAO, or the acting Member adequately declares with particularity that such demands are futile.
Sample 1
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A Member has votes according to that Member’s percent of ownership interest (e.g., 11% ownership equals 11 votes). In the event of a split vote among the Members, the Chief Executive Manager shall cast a vote to break the tie. Members are required to vote on at least one resolution that attempts to address and resolve the dispute between the Members prior to any Member bringing a direct action under Section 48-3a-801 of the Act. Subject to Section 48-3a-802 of the Act, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Members to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.
Sample 1
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A Member has votes proportional to that Member’s membership interest (e.g., 11% ownership equals 11 votes). A majority vote is necessary for an action to take place. Any vote under this Section may occur, provided a quorum of the membership interests is present for the vote. In the event of a split vote among the Members, the status quo remains, and no deviating action may occur. Members are required to vote on at least one resolution that attempts to address and resolve the dispute between the Members prior to any Member bringing a direct action under Section 00-00-000 of the Act. Members may maintain a derivative action to enforce a right of the DAO, provided the acting Member properly demands the other Member(s) to enforce the right of the DAO, or the acting Member adequately declares with particularity that such demands are futile.
Sample 1
AutoNDA by SimpleDocs
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote.
Sample 1

Related to DISPUTES OF MEMBERS

  • Disputes and Arbitration Any dispute concerning a question of fact arising under this contract shall be disposed of by good faith negotiation between duly authorized representatives of the District, the Office of the State Auditor, and the Firm. Such a resolution shall be reduced to writing and a copy thereof mailed or furnished to the Firm and shall be final and conclusive.

  • Disputes and Appeals (1) If the Company disputes an action, finding, or decision of FCIC under this Agreement, the Company shall seek a final administrative decision regarding such action, finding, or decision in accordance with the provisions of 7 C.F.R. § 400.169 before seeking judicial review.

  • DISPUTES AND GRIEVANCES Section 1. This Agreement is intended to provide close cooperation between management and labor. Each of the Unions will assign a representative to this Project for the purpose of completing the construction of the Project economically, efficiently, continuously, and without interruptions, delays, or work stoppages.

  • Minutes of meetings The Chairperson shall produce written minutes of each meeting which shall be the formal record of all decisions taken. The Chairperson shall send draft minutes to all Members within 14 (fourteen) calendar days of the meeting.

  • GRIEVANCE PROCEDURE AND ARBITRATION 8.01 For purposes of this Agreement, a grievance is defined as a difference arising between the parties relating to the interpretation, application, administration or alleged violation of the Agreement including any question as to whether a matter is arbitrable.

  • Special rules for partnerships Partnerships that conduct a trade or business in the United States are generally required to pay a withholding tax under section 1446 on any foreign partners’ share of effectively connected taxable income from such business. Further, in certain cases where a Form W-9 has not been received, the rules under section 1446 require a partnership to presume that a partner is a foreign person, and pay the section 1446 withholding tax. Therefore, if you are a U.S. person that is a partner in a partnership conducting a trade or business in the United States, provide Form W-9 to the partnership to establish your U.S. status and avoid section 1446 withholding on your share of partnership income. In the cases below, the following person must give Form W-9 to the partnership for purposes of establishing its U.S. status and avoiding withholding on its allocable share of net income from the partnership conducting a trade or business in the United States: • In the case of a disregarded entity with a U.S. owner, the U.S. owner of the disregarded entity and not the entity; • In the case of a grantor trust with a U.S. grantor or other U.S. owner, generally, the U.S. grantor or other U.S. owner of the grantor trust and not the trust; and • In the case of a U.S. trust (other than a grantor trust), the U.S. trust (other than a grantor trust) and not the beneficiaries of the trust. Foreign person. If you are a foreign person or the U.S. branch of a foreign bank that has elected to be treated as a U.S. person, do not use Form W-9. Instead, use the appropriate Form W-8 or Form 8233 (see Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities). Nonresident alien who becomes a resident alien. Generally, only a nonresident alien individual may use the terms of a tax treaty to reduce or eliminate U.S. tax on certain types of income. However, most tax treaties contain a provision known as a “saving clause.” Exceptions specified in the saving clause may permit an exemption from tax to continue for certain types of income even after the payee has otherwise become a U.S. resident alien for tax purposes. If you are a U.S. resident alien who is relying on an exception contained in the saving clause of a tax treaty to claim an exemption from U.S. tax on certain types of income, you must attach a statement to Form W-9 that specifies the following five items:

Time is Money Join Law Insider Premium to draft better contracts faster.