Acts of Members. Except as otherwise required by law or specified in the Articles of Organization of the Company or a member control agreement, the members shall take action by the affirmative vote of the owners of the greater of (a) a majority of the voting power of the membership interests present and entitled to vote on that item of business or (b) a majority of the voting power that would constitute a quorum for the transaction of business at a duly held meeting of members.
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement (Red Trail Energy, LLC), Operating Agreement (Red Trail Energy, LLC)
Acts of Members. Except as otherwise required by law or specified in the Articles of Organization of the Company or a member control agreementMember Control Agreement, the members shall take action by the affirmative vote of the owners of the greater of (a) a majority of the voting power of the membership interests present and entitled to vote on that item of business or (b) a majority of the voting power that would constitute a quorum for the transaction of business at a duly held meeting of members.
Appears in 2 contracts
Samples: Operating Agreement (Agassiz Energy, LLC), Operating Agreement (Agassiz Energy, LLC)
Acts of Members. Except as otherwise required by law or specified in the Articles of Organization of the Company or a in any applicable member control agreement, the members shall take action by the affirmative vote of the owners of the greater of (a) a majority of the voting power of the membership interests present and entitled to vote on that item of business or (b) a majority of the voting power that would constitute a quorum for the transaction of business at a duly held meeting of members.
Appears in 1 contract
Acts of Members. Except as otherwise required by law or specified in the Articles of Organization of the Company or a member control agreementCompany, the members shall take action by the affirmative vote of the owners of the greater of (a) a majority of the voting power of the membership interests Membership Interests present and entitled to vote on that item of business or (b) a majority of the voting power that would constitute a quorum for the transaction of business at a duly held meeting of members.
Appears in 1 contract
Samples: Ground Lease Agreement
Acts of Members. Except as otherwise required by law or specified in the Articles of Organization of the Company or a member control agreementMember Control Agreement, the members shall take action by the affirmative vote of the owners of the greater of (a) a majority of the voting power of the membership interests Membership Interests present and entitled to vote on that item of business or (b) a majority of the voting power that would constitute a quorum for the transaction of business at a duly held meeting of members.
Appears in 1 contract
Acts of Members. Except as otherwise required by law or specified in the Articles of Organization of the Company or a member control agreementCompany, the members shall take action by the affirmative vote of the owners of the greater of of: (a) a majority of the voting power of the membership interests present and entitled to vote on that item of business business; or (b) a majority of the voting power that would constitute a quorum for the transaction of business at a duly held meeting of members.
Appears in 1 contract
Samples: Operating Agreement