Common use of Classes and Series Clause in Contracts

Classes and Series. Initially there shall be one class of common shares, Class A Common Shares, and one series of preferred shares, Series A Preferred Shares. The Board of Directors shall have the authority, without the approval of any Members of the Company, to classify and reclassify issued and unissued Shares into one or more classes and one or more series of any or all of such classes, each of which classes and series thereof shall have such designations, powers, preferences, voting, conversion and other rights, limitations, qualifications and terms and conditions as the Board of Directors shall determine from time to time with respect to each such class or series. Unless otherwise expressly stated herein, all common shares shall vote as a single class on any matter.