Common use of Voting of Units Clause in Contracts

Voting of Units. A Unit is entitled to be voted only if it is owned by a Member and each such Unit shall be entitled to one vote. Neither an assignee nor a transferee may vote a Unit unless such assignee or transferee is a Member.

Voting of Units. A Unit is entitled to be voted only if it is owned by a Member and each such Each outstanding Unit shall be entitled to one vote. Neither an assignee nor vote upon each matter submitted to a transferee may vote of the Members; provided, however, that, if a Unit unless such assignee Member has assigned all or transferee a portion of its Units to a Person who is not admitted as a Member, neither the transferring Member nor the Transferee/Economic Interest Holder shall have the right to vote the Units so transferred and such Units shall not be deemed to be outstanding for purposes of determining a quorum or any percentage vote required or permitted hereunder.