Common use of Acts of Members Clause in Contracts

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)

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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

Samples: Operating Agreement (Taylor Investment Corp /Mn/)

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

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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

Samples: Operating Agreement (Golden Growers Cooperative)

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

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