Units Required Sample Clauses

Units Required. Each Class A Member owning a minimum of 5,000 Class A Units shall be entitled to one (1) vote with respect to any matter to be determined by the Members under this Agreement or the Act, regardless of the number of Units owned by such Class A Member. Any Class A Member who is in default of any of its obligations under this Agreement shall not be entitled to vote on any matter during the period of such default. When determining the aggregate number of Units held by a Member for purposes of this Agreement, the Units held by any Member who is in default of any obligations under this Agreement shall be excluded. Each Member other than individual Members shall designate in writing to the Chairman of the Board of the Company the name of one (1) individual authorized to act as such Member's representative with respect to all matters covered by this Agreement, including the right to exercise such Member's voting rights hereunder. The Company and the other Members shall be entitled to rely on the authority of the individual so designated. Each Member may change such Member's representative by written notice to the Chairman of the Board at such Member's sole discretion. A member absent from any meeting may submit an absentee vote on any motion, resolution, or amendment to be acted upon at such meeting. An absentee vote must be cast on a ballot containing the exact text of the proposed motion, resolution, or amendment by delivering such ballot to the Secretary at the principal office of the Company by hand, by United States mail (with postage prepaid thereon), by facsimile, by overnight courier or by any other reasonable means, to arrive not later than five (5) days prior to the day of the meeting at which the vote is taken.