Common use of Procedure for Obtaining Consent Clause in Contracts

Procedure for Obtaining Consent. If the Managing Member proposes to make an amendment to this Agreement that requires the consent of Stockholders, the Managing Member shall notify each affected Stockholder in writing, specifying the proposed amendment and the reason(s) why the Managing Member believe the amendment is in the best interest of the Company. At the written request of Stockholders holding at least Twenty Percent (20%) of the Shares entitled to vote on the amendment, the Managing Member shall hold an in-person or electronic meeting (e.g., a webinar) to explain and discuss the amendment. Voting may be through paper or electronic ballots. If the Managing Member proposes an amendment that is not approved by the Stockholders within ninety (90) days from proposal, the Managing Member shall not again propose that amendment for at least six (6) months.

Procedure for Obtaining Consent. If the Managing Member Manager proposes to make an amendment to this Agreement that requires the consent of StockholdersMembers, the Managing Member Manager shall notify each affected Stockholder Member (who may be all Members, or only Members holding a given class of Common Shares) in writing, specifying the proposed amendment and the reason(s) why the Managing Member Manager believe the amendment is in the best interest of the Company. At the written request of Stockholders Members holding at least Twenty Percent twenty percent (20%) of the Common Shares entitled to vote on the amendmentthen issued and outstanding, the Managing Member Manager shall hold an in-person or electronic meeting (e.g., a webinar) to explain and discuss the amendment. Voting may be through paper or electronic ballots. If the Managing Member Manager proposes an amendment that is not approved by the Stockholders Members within ninety (90) days from proposal, the Managing Member Manager shall not again propose that amendment for at least six (6) months.