Common use of Members and Management Committee Clause in Contracts

Members and Management Committee. The Members shall possess all rights and powers as provided in the Act and otherwise by law. Except as otherwise expressly provided for herein, the Members hereby consent to the exercise by the Management Committee of all such powers and rights conferred on them by the Act with respect to the management and control of the Company. Notwithstanding the foregoing and except as explicitly set forth in this Agreement, if a vote, consent or approval of the Members is required by the Act or other applicable law with respect to any act to be taken by the Company or matter considered by the Management Committee, each Member agrees that it shall be deemed to have consented to or approved such act or voted on such matter in accordance with a vote of the Management Committee on such act or matter. If a vote, consent or approval of the Members is required by this Agreement (whether of all classes of Units voting together as a single class or of a single class or different classes voting separately as a class), then each such Member shall have (i) one vote for each Class B Unit, Class C Unit and/or Class D Unit held by such Member and (ii) two votes for each Class A Unit held by such Member. Unless otherwise set forth in this Agreement, any vote, consent or approval of the Members (whether of all classes of Units voting together as a single class or of a single class or different classes voting separately as a class) required by this Agreement shall require a majority of the voting power of the applicable Units. Unless otherwise set forth in this Agreement or required by law, the Preferred Units shall be non-voting. No Member, in its capacity as a Member, shall have any power to act for, sign for or do any act that would bind the Company. The Members, acting through the Management Committee, shall devote such time and effort to the affairs of the Company as they may deem appropriate for the oversight of the management and affairs of the Company. Each Member acknowledges and agrees that no Member shall, in its capacity as a Member, be bound to devote all of such Member's business time to the affairs of the Company, and that each Member and such Member's Affiliates do and will continue to engage for such Member's own account and for the account of others in other business ventures.

Members and Management Committee. The Members shall possess all rights and powers as provided in the Act and otherwise by law. Except as otherwise expressly provided for herein, the Members hereby consent to the exercise by the Management Committee of all such powers and rights conferred on them by the Act with respect to the management and control of the Company. Notwithstanding the foregoing and except as explicitly set forth in this Agreement, if a vote, consent or approval of the Members is required by the Act or other applicable law with respect to any act to be taken by the Company or matter considered by the Management Committee, each Member agrees that it shall be deemed to have consented to or approved such act or voted on such matter in accordance with a vote of the Management Committee on such act or matter. If a vote, consent or approval of the Members is required by this Agreement (whether of all classes of Units voting together as a single class or of a single class or different classes voting separately as a class), then each such Member shall have (i) one vote for each Class B Unit, Class C Unit and/or Class D Unit held by such Member and (ii) two votes for each Class A Unit held by such Member. Unless otherwise set forth in this Agreement, any vote, consent or approval of the Members (whether of all classes of Units voting together as a single class or of a single class or different classes voting separately as a class) required by this Agreement shall require a majority of the voting power of the applicable Units. Unless otherwise set forth in this Agreement or required by law, the Preferred Units shall be non-voting. No Member, in its capacity as a Member, shall have any power to act for, sign for or do any act that would bind the Company. The Members, acting through the Management Committee, shall devote such time and effort to the affairs of the Company as they may deem appropriate for the oversight of the management and affairs of the Company. Each Member acknowledges and agrees that no Member shall, in its capacity as a Member, be bound to devote all of such Member's ’s business time to the affairs of the Company, and that each Member and such Member's ’s Affiliates do and will continue to engage for such Member's ’s own account and for the account of others in other business ventures.

Members and Management Committee. The Members shall possess all rights and powers as provided in the Act and otherwise by applicable law. Except as otherwise expressly provided for herein, the Members hereby consent to the exercise by the Management Committee of all such powers and rights conferred on them by the Act with respect to the management and control of the Company. Notwithstanding the foregoing and except as explicitly set forth in this Agreement, if a vote, consent or approval of the Members is required by the Act or other applicable law with respect to any act to be taken by the Company or matter considered by the Management Committee, each Member agrees that it shall be deemed to have consented to or approved such act or voted on such matter in accordance with a vote of the Management Committee on such act or matter. Each Class A Unitholder shall have one vote for each Class A Unit held by such Unitholder. Holders of Preferred Units, Class B Units and Class C Units shall not have the right to vote on any matter unless such right is expressly provided herein. If a vote, consent or approval of the Members is required by this Agreement (whether of all classes of Units voting together as a single class or of a single class or different classes voting separately as a class)Agreement, then each such Member shall have (i) one vote for each Class B Unit, Class C Unit and/or Class D Unit held by such Member and (ii) two votes for each only the Class A Unit held by such Members shall be entitled to vote, consent or approve unless a right to vote, consent or approve is expressly provided herein to any other Member. Unless otherwise set forth in this Agreement, any vote, consent or approval of the Members (whether of all classes any class of Units voting together as a single class or of a single class or different classes voting separately as a class) required by this Agreement shall require a majority of the voting power of the applicable Units. Unless otherwise set forth in this Agreement or required by law, the Preferred Units shall be non-voting. No Member, in its capacity as a Member, shall have any power to act for, sign for or do any act that would bind the Company. The Members, acting through the Management Committee, shall devote such time and effort to the affairs of the Company as they may deem appropriate for the oversight of the management and affairs of the Company. Each Member acknowledges and agrees that no Member shall, in its capacity as a Member, be bound to devote all of such Member's ’s business time to the affairs of the Company, and that each Member and such Member's ’s Affiliates do and will continue to engage for such Member's ’s own account and for the account of others in other business ventures.