Common use of Non-Voting Members Clause in Contracts

Non-Voting Members. Any Class A Member owning at least 1,000 Class A Units but less than 5,000 Class A Units as of the date upon which notice of action to be taken by the Members is mailed to the Members shall be considered a non-voting member of the Company and shall not be entitled to vote on any matters reserved to the Members. The Units held by such non-voting members shall be excluded in determining the aggregate number of Units held by Members. Notwithstanding that such member is not entitled to vote, the Units in the hands of the non-voting member shall continue to be subject to all the applicable provisions of this Agreement, including but not limited to the transfer restrictions set forth in Article X hereof. In the event a non-voting member purchases the minimum number of Class A Units required to receive voting rights under Section 3.4(a) hereof, such member shall be entitled to the voting rights set forth in Section 3.4(a) without any further action by the Members or the Board.