Class A Units definition
Examples of Class A Units in a sentence
Generally, Members holding at least ten percent (10%) of all outstanding Class A Units, Class B Units and Class C Units, treated as a single class, represented in person or by proxy, shall constitute a quorum at any meeting of the Members.
Any amendments to this Agreement will only require the affirmative vote of the Members who hold a majority of the Class A Units and Class B Units, voting together as a single class.
However, if the only matter to be approved on at any member meeting is the voluntary dissolution of the Company, Members holding at least fifty percent (50%) of all outstanding Class A Units and Class C Units, treated as a single class, represented in person or by proxy, shall constitute a quorum at such meeting.
A Change of Control of the Company shall only require the affirmative vote of the Members who hold a majority of the Class A Units, the Class B Units and the Class C Units, voting together as a single class.
Special meetings of the Members may be called at any time by: (i) the Board of Managers, or (ii) Members holding at least ten percent (10%) of the Class A Units, Class B Units and Class C Units, as separate classes, provided that such persons calling the meeting abide by Section 5.6.