Common use of Right to Vote; Act of Members Clause in Contracts

Right to Vote; Act of Members. Voting of the Members shall be by‌ Industry Sector, with each Industry Sector entitled to the same number of votes as it has directors on the board. If a quorum is present, except with respect to amendments of these Bylaws, modification of a budget approved by the board of directors or termination of the Corporation, the affirmative vote of the majority of the Industry Sector votes present and entitled to vote, which must also be a majority of the required quorum, is the act of the Members, however, in no event will an action of the Members be valid where the action was passed solely by the vote of Members from two Industry Sectors or defeated solely by the vote of Members in a single Industry Sector. Within an Industry Sector, each Member within the Industry Sector shall have one vote. If a quorum is present with respect to the Industry Sector, the affirmative vote of the majority of the Members within the Industry Sector present and entitled to vote, which must also be a majority of the required quorum, is the act of the Industry Sector. All of the Industry Sector’s votes shall be cast consistent with the act of the Industry Sector unless the Industry Sector adopts a fractional voting alternative as described in Section 6.5.3.

Right to Vote; Act of Members. Voting of the Members shall be by‌ by Industry Sector, with each Industry Sector entitled to the same number of votes as it has directors on the board. If a quorum is present, except with respect to amendments of these Bylaws, modification of a budget approved by the board of directors or termination of the Corporation, the affirmative vote of the majority of the Industry Sector votes present and entitled to vote, which must also be a majority of the required quorum, is the act of the Members, however, in no event will an action of the Members be valid where the action was passed solely by the vote of Members from two Industry Sectors or defeated solely by the vote of Members in a single Industry Sector. Within an Industry Sector, each Member within the Industry Sector shall have one vote. If a quorum is present with respect to the Industry Sector, the affirmative vote of the majority of the Members within the Industry Sector present and entitled to vote, which must also be a majority of the required quorum, is the act of the Industry Sector. All of the Industry Sector’s votes shall be cast consistent with the act of the Industry Sector unless the Industry Sector adopts a fractional voting alternative as described in Section 6.5.3.