Common use of No Voting Clause in Contracts

No Voting. If the Management Committee exercises any of the remedies set forth in subsections (a)(3) or (a)(4) above, the Defaulting Member will lose its voting and approval rights under this Agreement until completion of dissolution and the winding up of the affairs of the Company, or such time as the Defaulting Member cures (if the non-Defaulting Member thereafter permits the Defaulting Member to cure) the default or its Membership Interest is purchased. Notwithstanding the foregoing, in the event the non-Defaulting Member elects to exercise the remedy provided for in subsection (a)(4) above, then pending the consummation of the purchase of the Defaulting Member's entire Membership Interest pursuant to such subsection, the Defaulting Member will, even if it no longer has any Managers appointed by it to the Management Committee, retain the right to approve all actions specified anywhere in this Agreement as requiring the unanimous consent or approval of the Management Committee until consummation of such purchase. No reduction in a Member's Percentage Interest pursuant to subsection (a) shall affect any of the Defaulting Member's voting or approval rights under this Agreement (other than to the extent such reduction reduces the voting power of the Defaulting Member's representatives).