Common use of Voting and Management Clause in Contracts

Voting and Management. Initial Members. The initial Members are those identified in Exhibit 1. Classification of Membership Interests. The Company shall issue Class A Voting Capital (“Voting Capital”) to the voting Members (“the Voting Members’). The Voting Members have the right to vote in proportion to their respective Percentage Voting Interest (“PVI”). The PVI shall be calculated by dividing the individual Member’s Voting Capital by the total Voting Capital. The Company may issue Class B, Nonvoting Capital (“Nonvoting Capital”) to the Members who have no right to vote on any matters. The membership interests and class are included in Exhibit 1.

Appears in 2 contracts

Sources: LLC Operating Agreement, LLC Operating Agreement