Common use of Special Right of Appointment of Governors for Certain Members Clause in Contracts

Special Right of Appointment of Governors for Certain Members. Commencing with the first annual or special meeting of the Members following the commencement of substantial operations of the Facilities, each Member who invests $7.5 million or more in Units of the Company, all of which were purchased by such Member from the Company during the Company’s initial registered equity offering, (“Appointing Member”) may appoint one (1) Governor, so long as the appointing Member is the holder of such Units. If at any time such Appointing Member elects to not appoint a Governor, this special right of appointment shall terminate. Units held by an Affiliate, spouse or lineal descendant or ancestor shall be included in the determination of whether the Member holds the requisite number of Units for purposes of this section. A Governor appointed under this section shall serve indefinitely at the pleasure of the Member appointing him or her until a successor is appointed, or until the early of death, resignation or removal. Any Governor appointed under this section may be removed for any reason by the Member appointing him or her, upon written notice to the Board of Governors, which notice may designate and appoint a successor Governor to fill the vacancy, and which notice may be given at a meeting of the Board of Governors attended by the person appointed to fill such vacancy. In addition, a Governor appointed under this section may be removed for any reason by the unanimous vote of the other Governors. Any vacancy shall be filled within thirty (30) days of its occurrence by the Member having the right of appointment. In the event the number of Units held by a Member falls below the threshold granting appointment rights, the term of any Governor appointed by such Member under this section shall terminate and a successor shall be elected or appointed in accordance with the terms of this Agreement. Units subject to this special right of appointment shall not be voted in the general election of Governors under Section 5.3(a) nor shall any Appointing Member under this Section 5.3(c) have the right to nominate any Governors under Section 5.3(b).

Special Right of Appointment of Governors for Certain Members. Commencing with the first annual or special meeting of the Members following the commencement of substantial operations of the Facilities, each Member who invests $7.5 million or more in Units of the Company, all of which were purchased by such Member from the tFhe Company during the Company’s initial registered equity offering, (“Appointing Member”) may appoint one (1) Governor, so long as the appointing Member is the holder of such Units. . If at any time such the first annual or special meeting of the Members following the date on which substantial operations commence, Appointing Member elects to not appoint a Governor, or if Appointing Member fails to fill any vacancy within 30 days as required by this Section 5.3(c), this special right of appointment shall terminate. Units held by an Affiliate, spouse or lineal descendant or ancestor shall be included in the determination of whether the Member holds the requisite number of Units for purposes of this section. A Governor appointed under this section shall serve indefinitely at the pleasure of the Member appointing him or her until a successor is appointed, or until the early of death, resignation or removal. Any Governor appointed under this section may be removed for any reason by the Member appointing him or her, upon written notice to the Board of Governors, which notice may designate and appoint a successor Governor to fill the vacancy, and which notice may be given at a meeting of the Board of Governors attended by the person appointed to fill such vacancy. In addition, a Governor appointed under this section may be removed for any reason by the unanimous vote of the other Governors. Any vacancy shall be filled within thirty (30) days of its occurrence by the Member having the right of appointment. In the event the number of Units held by a Member falls below the threshold granting appointment rights, the term of any Governor appointed by such Member under this section shall terminate and the Member’s right to appoint a successor Governor shall be elected or appointed in accordance with the terms of this Agreementterminate. Units subject to this special right of appointment shall not be voted in the general election of Governors under Section 5.3(a) nor shall any Appointing Member under this Section 5.3(c) have the right to nominate any Governors under Section 5.3(b).

Special Right of Appointment of Governors for Certain Members. Commencing with the first annual or special meeting of the Members on a date within thirty (30) days following the commencement of substantial operations of the FacilitiesFinancial Close, each Member who invests $7.5 million holds Three Thousand Five Hundred (3,500) or more in Units of the CompanyUnits, all of which were purchased by such Member from the Company during the Company’s initial registered public offering of equity offeringsecurities filed with the Securities and Exchange Commission, (“shall be deemed an Appointing Member”) may Member and shall be entitled to appoint one (1) Governor, so long as the appointing Member is the holder of such Three Thousand Five Hundred (3,500) Units. If at any time such Appointing Member elects to not appoint a Governor, this special right of appointment shall terminate. Units held by an Affiliate, spouse or lineal descendant or ancestor shall be included in the determination of whether the Member holds the requisite number of Units for purposes of this section. A Governor appointed under this section shall serve indefinitely at the pleasure of the Member appointing him or her until a successor is appointed, or until the early of death, resignation or removal. Any Governor appointed under this section may be removed for any reason by the Member appointing him or her, upon written notice to the Board of Governors, which notice may designate and appoint a successor Governor to fill the vacancy, and which notice may be given at a meeting of the Board of Governors attended by the person appointed to fill such vacancy. In addition, a Governor appointed under this section may be removed for any reason by the unanimous vote of the other Governors. Any vacancy shall be filled within thirty (30) days of its occurrence by the Member having the right of appointment. In the event the number of Units held by a Member falls below the threshold granting appointment rights, the term of any Governor appointed by such Member under this section shall terminate and a successor shall be elected or appointed in accordance with the terms of this Agreement. Units subject to this special right of appointment shall not be voted in the general election of Governors under Section 5.3(a) nor shall any Appointing Member under this Section 5.3(c) have the right to nominate any Governors under Section 5.3(b5.2(a).

Special Right of Appointment of Governors for Certain Members. Commencing with the first annual or special meeting of the Members following the commencement of substantial operations of the Facilities, each Member who invests $7.5 million or more in Units of the Company, all of which were purchased by such Member from the Company during the Company’s initial registered equity offering, (“Appointing Member”) may appoint one (1) Governor, so long as the appointing Member is the holder of such Units. . If at any time such the first annual or special meeting of the Members following the date on which substantial operations commence, Appointing Member elects to not appoint a Governor, or if Appointing Member fails to fill any vacancy within 30 days as required by this Section 5.3(c), this special right of appointment shall terminate. Units held by an Affiliate, spouse or lineal descendant or ancestor shall be included in the determination of whether the Member holds the requisite number of Units for purposes of this section. A Governor appointed under this section shall serve indefinitely at the pleasure of the Member appointing him or her until a successor is appointed, or until the early of death, resignation or removal. Any Governor appointed under this section may be removed for any reason by the Member appointing him or her, upon written notice to the Board of Governors, which notice may designate and appoint a successor Governor to fill the vacancy, and which notice may be given at a meeting of the Board of Governors attended by the person appointed to fill such vacancy. In addition, a Governor appointed under this section may be removed for any reason by the unanimous vote of the other Governors. Any vacancy shall be filled within thirty (30) days of its occurrence by the Member having the right of appointment. In the event the number of Units held by a Member falls below the threshold granting appointment rights, the term of any Governor appointed by such Member under this section shall terminate and the Member’s right to appoint a successor Governor shall be elected or appointed in accordance with the terms of this Agreementterminate. Units subject to this special right of appointment shall not be voted in the general election of Governors under Section 5.3(a) nor shall any Appointing Member under this Section 5.3(c) have the right to nominate any Governors under Section 5.3(b).