Common use of Voting Generally Clause in Contracts

Voting Generally. Each Member shall have one vote for each one Peso contributed by the Member and its predecessors to the equity of the Company. Votes shall be cast by written ballot. Members may be represented at Members Meetings by proxies, the holders of which need not be Members. Proxy holders that are Members shall be entitled to vote based on the number of votes of the Members they represent separately, in addition to voting based on their own number of votes. Proxies shall be issued in accordance with the Code. Resolutions may be approved by the Members without a meeting if the resolution is submitted in writing to each Member and each such Member consents in writing to such resolution.