Super-Majority Amendments. Notwithstanding Section 9.1 of this OPERATING AGREEMENT, any alteration or amendment to this Section 9.2 of this OPERATING AGREEMENT or Section 5.2 of this OPERATING AGREEMENT that: a) affects the Shareholders disproportionately; or b) materially and adversely affects the rights of the Shareholders, will require the affirmative vote or consent of the MANAGING MEMBER or BOARD OF DIRECTORS, and the holders of Outstanding Common Shares of the COMPANY representing at least two-thirds of the total votes that may be cast by all such Outstanding Common Shares, voting together as a single class.
Appears in 8 contracts
Samples: Operating Agreement (Strategic Hotel Ventures, LLC), Operating Agreement (Century West Multifamily Income Reit, LLC), Operating Agreement (Century West Multifamily Income Reit, LLC)
Super-Majority Amendments. Notwithstanding Section 9.1 of this OPERATING AGREEMENT, any alteration or amendment to this Section 9.2 of this OPERATING AGREEMENT or Section 5.2 of this OPERATING AGREEMENT that:
a) affects the Shareholders disproportionately; or
b) materially and adversely affects the rights of the Shareholders, will require the affirmative vote or consent of the MANAGING MEMBER or BOARD OF DIRECTORS, and the holders of Outstanding Common Shares COMMON SHARES of the COMPANY representing at least two-thirds of the total votes that may be cast by all such Outstanding Common SharesCOMMON SHARES, voting together as a single class.
Appears in 1 contract
Samples: Operating Agreement (Anabasis Real Estate Investment Trust, LLC)
