Classes and Voting Clause Samples
The "Classes and Voting" clause defines how voting rights are distributed among different classes of stakeholders or shares within an organization. It typically outlines which classes are entitled to vote on specific matters, the number of votes each class or holder receives, and any special voting procedures or thresholds required for certain decisions. For example, preferred shareholders might have voting rights only on issues affecting their class, while common shareholders vote on general corporate matters. This clause ensures clarity and fairness in decision-making processes by specifying who has a say in various corporate actions, thereby preventing disputes and confusion over voting entitlements.
Classes and Voting. Unless the Articles state to the contrary or as provided by this Operating Agreement, or any amendment hereto, there shall be one class of Members. The Board of Managers may establish additional classes or groups of one or more Members.
Classes and Voting. Unless the Articles state to the contrary or as provided by this Operating Agreement, or any amendment hereto, there shall be four classes of Members. There shall be Class A Members, Class B Members, Class C Members, and Class D Members. The Board of Managers may establish additional classes or groups of one or more Members.
Classes and Voting. All Members of the Company are of the same class and all votes shall require a majority vote except as otherwise provided in this Operating Agreement; however, nothing herein shall preclude the establishment of different membership classifications upon a unanimous vote of the membership units, except as otherwise provided in Article III, Section 2.
Classes and Voting. (a) The Interests as of the date hereof are held as set forth in Schedule A attached hereto.
(b) Members shall not be liable for the debts, obligations or liabilities of the Company, including any such debts, obligations or liabilities arising under a judgment decree or order of a court.
(c) Except as otherwise contemplated by Section 8.2 hereof, CEP and ASE (together the "Voting Members") shall each be entitled to one vote upon all matters upon which Members have the right to vote, regardless of the respective Interests, held by the Members. None of Simon, Chef, Covino or the Be▇▇▇▇▇ shall be entitled to any vote. Whenever Percentage Interests may be voted by any Members including, without limitation, pursuant to Section 12.1 hereof, solely for the purposes of determining the Percentage Interests voting in the event of the death of Simon, ASE shall be deemed to have the right in all respects to vote all of the Percentage Interests which the Permitted Transferees of Simon then own (and accordingly, solely for the purposes of determining such voting, such Permitted Transferees shall be the equivalent of Members).
Classes and Voting. Unless the Articles state to the contrary or as provided by this Agreement, or any amendment hereto, there shall be three (3) classes of Members: Class A Members, Class B Members and Class C Members. The Board of Managers may establish additional classes or groups of one or more Members.