Common use of Members’ Voting Rights Clause in Contracts

Members’ Voting Rights. Each Member holding Series A Units shall be entitled to one (1) vote for each Series A Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series A Units is entitled to vote under this Agreement or the Act. Each Member holding Series B Units shall be entitled to one (1) vote for each Series B Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series B Units is entitled to vote under this Agreement or the Act. Each Member holding Series C Units shall be entitled to one (1) vote for each Series C Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series C Units is entitled to vote under this Agreement or the Act. Each Member holding Series U Units shall be entitled to one (1) vote for each Series U Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series U Units is entitled to vote under this Agreement or the Act. Unless a matter is expressly reserved in this Agreement for the vote or approval of a particular class of Units, each Member holding Units (regardless of class) shall be entitled to vote thereon, with each Member entitled to one (1) vote for each Unit registered in the name of such Member (as shown in the Unit Holder Register). Members do not have cumulative voting rights as to any matter. Except as otherwise expressly provided for in this Agreement, Members shall not have any right or power to take part in the management or control of the Company or its business and affairs or to act for or bind the Company in any way.

Appears in 2 contracts

Samples: Operating Agreement (Southwest Iowa Renewable Energy, LLC), Operating Agreement (Southwest Iowa Renewable Energy, LLC)

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Members’ Voting Rights. Each Member holding Series A Units shall be entitled to one (1) vote for each Series A Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series A Units is entitled to vote under this Agreement or the Act. Each Member holding Series B Units shall be entitled to one (1) vote for each Series B Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series B Units is entitled to vote under this Agreement or the Act. Each Member holding Series C Units shall be entitled to one (1) vote for each Series C Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series C Units is entitled to vote under this Agreement or the Act. Each Member holding Series U Units shall be entitled to one (1) vote for each Series U Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series U Units is entitled to vote under this Agreement or the Act. Unless a matter is expressly reserved in this Agreement for the vote or approval of a particular class of Units, each Member holding Units (regardless of class) shall be entitled to vote thereon, with each Member entitled to one (1) vote for each Unit registered in the name of such Member (as shown in the Unit Holder Register). Members do not have cumulative voting rights as to any matter. Except as otherwise expressly provided for in this Agreement, Members shall not have any right or power to take part in the management or control of the Company or its business and affairs or to act for or bind the Company in any way.

Appears in 1 contract

Samples: Operating Agreement (Southwest Iowa Renewable Energy, LLC)

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Members’ Voting Rights. Each Member holding Series A Units shall be entitled to one (1) vote for each Series A Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series A Units is entitled to vote under this Agreement or the Act. Each Member holding Series B Units shall be entitled to one (1) vote for each Series B Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series B Units is entitled to vote under this Agreement or the Act. Each Member holding Series C Units shall be entitled to one (1) vote for each Series C Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series C Units is entitled to vote under this Agreement or the Act. Each Member holding Series U E Units shall be entitled to one (1) vote for each Series U E Unit registered in the name of such Member (as shown in the Unit Holder Register) as to any matter for which a Member holding Series U E Units is entitled to vote under this Agreement or the Act. Unless a matter is expressly reserved in this Agreement for the vote or approval of a particular class of Units, each Member holding Units (regardless of class) shall be entitled to vote thereon, with each Member entitled to one (1) vote for each Unit registered in the name of such Member (as shown in the Unit Holder Register). Members do not have cumulative voting rights as to any matter. Except as otherwise expressly provided for in this Agreement, Members shall not have any right or power to take part in the management or control of the Company or its business and affairs or to act for or bind the Company in any way.

Appears in 1 contract

Samples: Operating Agreement (Southwest Iowa Renewable Energy, LLC)

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