Common use of VEBA Voting Restriction Clause in Contracts

VEBA Voting Restriction. For so long as any VEBA Entity owns any Membership Interests, each such VEBA Entity agrees to vote its Membership Interests (except with respect to Major Decisions set forth in Section 10.7 in the event that Section 10.7 of the Company LLC Agreement is applicable) in accordance with the recommendations of the Independent Directors of the Company in proportion to such recommendations.

Appears in 2 contracts

Samples: Shareholders Agreement, Shareholder Agreement (Chrysler Group LLC)

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VEBA Voting Restriction. For so long as any the VEBA Entity owns any Membership InterestsInterest, each such the VEBA Entity agrees to vote its Membership Interests (except with respect to Major Decisions set forth in Section 10.7 in the event that Section 10.7 of the Company LLC Agreement is applicable) in accordance with the recommendations recommendation of the majority of the Independent Directors of the Company in proportion to such recommendationsCompany.

Appears in 1 contract

Samples: Settlement Agreement

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VEBA Voting Restriction. For so long as any the VEBA Entity owns any Membership Interests, each such the VEBA Entity agrees to vote its Membership Interests (except with respect to Major Decisions set forth in Section 10.7 in the event that Section 10.7 of the Company LLC Agreement is applicable) in accordance with the recommendations of the Independent Directors of the Company in proportion to such recommendations.

Appears in 1 contract

Samples: Shareholder Agreement

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