Common use of DISPUTES OF MEMBERS Clause in Contracts

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.

Appears in 4 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 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 between the Members prior to any Member bringing a direct action under Section 4131 7-80-713 of the StatutesAct. Subject to Section 4132 7-80-714 of the StatutesAct, 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.

Appears in 4 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action against the Company or other Members under Section 4131 489.407 of the StatutesAct. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the CompanyCompany in accordance with Section 489.902 of the Act, 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.

Appears in 4 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 interest. (e.g., Example: 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 between the Members prior to any Member bringing a direct action under Section 4131 48-3a-801 of the StatutesAct. Subject to Section 4132 48-3a-802 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(s) Managers to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action against the Company or other Members under Section 4131 15-20 of the StatutesAct. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the CompanyCompany in accordance with Section 40-1 of the Act, 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.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 00-00-000 of the StatutesAct. Subject to Section 4132 00-00-000 of the StatutesAct, 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.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 1706.62 of the StatutesAct. Subject to Section 4132 1706.61 of the StatutesAct, 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.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 StatutesAct. Subject to Section 4132 4A-801 of the StatutesAct, 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.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 Statutesaction. Subject to Section 4132 17-76,130 of the StatutesAct, 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.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 Statutesaction. Subject to Section 4132 12:1365 of the StatutesLaw, 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.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action against the Company, its Managers, or other Members under Section 4131 of the StatutesAct. Subject to Section 4132 63.801 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 42:2C-67 of the StatutesAct. Subject to Section 4132 42:2C-68 of the StatutesAct, 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.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 00-00-000 of the StatutesAct. 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.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 53-19-58 of the StatutesAct. 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 Sections 00-000-000 and 00-000-000 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 10.50.735 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 12:1365 of the StatutesLaw, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 25.15.141 of the StatutesCode. Subject to Section 4132 25.15.386 of the StatutesCode, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 00-00-000 of the StatutesAct. Subject to Section 4132 33-44-1101 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action against the Company, its Managers, or other Members under Section 4131 15-20 of the StatutesAct. Subject to Section 4132 40-1 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 against the Statutesother Members or the Company. Subject to Section 4132 79-29-1101 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager 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 between the Members prior to any Member bringing a direct action under Section 4131 29-3801 of the StatutesAct. Subject to Section 4132 29-3802 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 21-164 of the StatutesAct. Subject to Section 4132 21-165 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action against the Company or other Members under Section 4131 of the StatutesAct. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the CompanyCompany in accordance with Section 63.801 of the Act, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 00-00-000 of the StatutesAct. 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(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 605.0801 of the StatutesAct. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the CompanyCompany in accordance with Section 605.0802 of the Act, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 304-C:190 of the StatutesAct. Subject to Section 4132 304-C:188 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 31B-4-410 of the StatutesAct. Subject to Section 4132 31B-11-1101 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Statutesaction. Subject to Section 4132 347.171 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 605.0801 of the StatutesAct. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the CompanyCompany in accordance with Section 605.0802 of the Act, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 of the StatutesAct. Subject to Section 4132 18-1001 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 86.483 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Statutesaction. Subject to Section 4132 10.50.735 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action proceeding under Section 4131 of the StatutesAct. Subject to Section 4132 18-1001 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 450.4515 of the StatutesAct. Subject to Section 4132 450.4510 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 34-271 of the StatutesAct. Subject to Section 4132 34-271a of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Statutesaction. Subject to Section 4132 86.483 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 34-271 of the StatutesAct. Subject to Section 4132 34-271a of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action proceeding under Section 4131 00-00-000 of the StatutesAct. Subject to Section 4132 00-00-000 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action proceeding under Section 4131 of the StatutesLaw. Subject to Section 4132 610 of the StatutesLaw, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 275.337 of the StatutesAct. Subject to Section 4132 Sections 275.155 and 275.337 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 of the StatutesLaw. Subject to Section 4132 610 of the StatutesLaw, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 17-76,130 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action against the Company or other Members under Section 4131 of the StatutesLaw. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the CompanyCompany in accordance with Section 101.452 of the Law, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 183.0305 of the StatutesLaw. Subject to Section 4132 183.1101 of the StatutesLaw, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 53-19-58 of the StatutesAct. 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(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action against the Company or other Members under Section 4131 428-410 of the StatutesAct. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the CompanyCompany in accordance with Part XI of the Act, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 8881 of the StatutesAct. Subject to Section 4132 8882 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 29–808.01 of the StatutesAct. Subject to Section 4132 29–808.02 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action against the Company, its Managers, or other Members under Section 4131 428-410 of the StatutesAct. Subject to Section 4132 Part XI of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action proceeding under Section 4131 35-8-410 of the StatutesAct. Subject to Section 4132 35-8-1104 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action proceeding under Section 4131 1706.62 of the StatutesAct. Subject to Section 4132 1706.61 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 29-3801 of the StatutesAct. Subject to Section 4132 29-3802 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 304-C:190 of the StatutesAct. Subject to Section 4132 304-C:188 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 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 00-00-000 of the StatutesAct. Subject to Section 4132 33-44-1101 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 10A-5A-9.01 of the StatutesLaw. Subject to Section 4132 10A-5A-9.02 of the StatutesLaw, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 17709.02 of the StatutesAct. 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(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 322C.0901 of the StatutesAct. Subject to Section 4132 322C.0902 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 13.1-1042 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct an action under Section 4131 either Sections 55 or 56 of the StatutesAct. 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(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Statutesaction. Subject to Section 4132 Sections 00-000-000 and 00-000-000 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 35-8-410 of the StatutesAct. Subject to Section 4132 35-8-1104 of the StatutesAct, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 42:2C-67 of the StatutesAct. Subject to Section 4132 42:2C-68 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 25.15.141 of the StatutesCode. Subject to Section 4132 25.15.386 of the StatutesCode, 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.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 Subchapter 11 of the StatutesAct. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the CompanyCompany in accordance with Section 1632 of the Act, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 347.171 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 1 contract

Samples: Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 Sections 47-34A-410 or 47-34A-1101 of the StatutesAct. Subject to Section 4132 47-34A-1102 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 1 contract

Samples: Operating Agreement

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 4-38-801 of the StatutesAct. Subject to Section 4132 4-38-802 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 4-38-801 of the StatutesAct. Subject to Section 4132 4-38-802 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 1 contract

Samples: Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 7-16-56 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 1 contract

Samples: Operating Agreement

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 275.337 of the StatutesAct. Subject to Section 4132 Sections 275.155 and 275.337 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 Manager(s) 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 between 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(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 1 contract

Samples: Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 4003 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 1 contract

Samples: Operating Agreement

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 183.0305 of the StatutesLaw. Subject to Section 4132 183.1101 of the StatutesLaw, 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.

Appears in 1 contract

Samples: Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 10-32.1-33 of the StatutesAct. Subject to Section 4132 10-32.1-34 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 1 contract

Samples: Operating Agreement

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 Statutesaction. Subject to Section 4132 57D-8-01 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 15134 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 1 contract

Samples: Operating Agreement

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 Sections 47-34A-410 or 47-34A-1101 of the StatutesAct. Subject to Section 4132 47-34A-1102 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 10-32.1-33 of the StatutesAct. Subject to Section 4132 10-32.1-34 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 31B-4-410 of the StatutesAct. Subject to Section 4132 31B-11-1101 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 Statutesaction. Subject to Section 4132 13.1-1042 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 of the Statutesaction. Subject to Section 4132 57D-8-01 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 1 contract

Samples: Operating Agreement

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 Manager(s) 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 between the Members prior to any Member bringing a direct action under Section 4131 322C.0901 of the StatutesAct. Subject to Section 4132 322C.0902 of the StatutesAct, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(sManager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.

Appears in 1 contract

Samples: Operating Agreement

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 29–808.01 of the StatutesAct. Subject to Section 4132 29–808.02 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 Statutesaction. Subject to Section 4132 7-16-56 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 Statutesaction. Subject to Section 4132 4003 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 21-164 of the StatutesAct. Subject to Section 4132 21-165 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

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 between the Members prior to any Member bringing a direct action under Section 4131 Subchapter 11 of the StatutesAct. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the CompanyCompany in accordance with Section 1632 of the Act, 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.

Appears in 1 contract

Samples: Operating Agreement

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 450.4515 of the StatutesAct. Subject to Section 4132 450.4510 of the StatutesAct, 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.

Appears in 1 contract

Samples: Operating Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!