No Member definition

No Member has any voting right except with respect to those matters specifically reserved for a Member vote as set forth in this Agreement or as required in the Act. A Member shall have one vote for each Percentage Interest such Member has in the Company (for example, initially, Charter Inc. and Crescent Operating will each hold a 50% Interest in the Company and each have fifty votes). The approval of Members owning eighty percent (80%) or more of the Percentage Interests in the Company is required to act on any matter submitted to a vote of the Members.
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No Member has any voting right except with respect to those matters specifically reserved for a Member which are set forth in this Agreement and as required in the Act. Subject to the provisions of Section 7.5, any action by the Members shall require unanimous approval.
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Examples of No Member in a sentence

  • No Member has any right to any return of capital or other distribution except as expressly provided in this Agreement.

  • No Member shall be obligated to make any additional contribution to the Company's capital without the prior unanimous written consent of the Members.

  • No Member shall be obligated to restore by way of Capital Contribution or otherwise any deficits in its Capital Account (if such deficits occur).

  • No Member shall have the right to require the Company to issue physical Certificates representing Shares for any reason, except as may be required by applicable law.

  • No Member has a right to demand or receive a distribution from the Company in any from other than money.

  • No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

  • No Member intending to participate in the Offering has a conflict of interest with the Company.

  • No Member shall be required or permitted to make any additional contributions without the consent of all of the Members.

  • No Member shall sell, assign or transfer, or offer to sell, assign or transfer or otherwise Dispose of all or any part of such Member’s Units or other interests in the Company (whether voluntarily or involuntarily) without the prior written consent of the Majority Members.

  • No Member may withdraw all or any part of its Capital Contribution except with the unanimous consent of the mangers or as provided in Article III (regarding distributions generally) or Article VIII (regarding dissolution of the Company).