Common use of Remote Communication Clause in Contracts

Remote Communication. Meetings may be held virtually, through the Internet, interactive technology or remote communication, in accordance with rules established by the Board of Managers. Annual meetings shall be held in the month of July as may be authorized by the Board of Managers and set forth in the notice of meeting, for the purpose of electing Managers and for the transaction of such other business as may come before the meeting. Special meetings of one or more Shareholder Classes, for any purpose or purposes, may be called by (i) the Board of Managers pursuant to a resolution adopted by the affirmative vote of a majority of the Board of Managers then in office, or (ii) the Chairman of the Board. Special meetings of a Shareholder Class, for any purpose or purposes may be called by (i) a majority of the Shareholders of the Board of Managers elected by such Shareholder Class or (ii) the Shareholders of that Shareholder Class holding, in the aggregate, five percent (5%) of the total outstanding Units of that Shareholder Class. Business transacted at any special meeting of the Shareholders shall be limited to the purpose or purposes stated in the notice for such meeting. The Company shall pay for the first two meetings of Shareholders per year not called by the Board of Managers or the Chairman of the Board, if any; the cost for any additional such meetings shall be the responsibility of the Shareholders calling the meeting.