[CCWG-ACCT] Documents for Posting for CCWG-ACCT

[Arun Sukumar]

Just as an example, the Bylaws could provide that all SOs and ACs must
approve specific decisions in order for the community to direct the Sole
Member with respect to the unwanted statutory right. This could even
include involving the Board of Directors (for example with a trigger right,
or an approval or veto right) with respect to dissolution and other
statutory rights of concern. Th*e goal of such an approach would be to
assure shared as opposed to unilateral governance of specificallyidentified
critical decisions*

On Sat, Oct 3, 2015 at 12:54 PM, Seun Ojedeji <seun.ojedeji at gmail.com>
wrote:

> Hello Gregory,
>
> This is quite helpful memo, I particularly like the text below:
>
> "...Level 2: A consensus among all participating SOs and ACs (based on the
> Level 1 decisions of each participant) is then required to meet whatever
> decision threshold for a particular matter has been set in the Bylaws; it
> is at this level, Level 2, where it is entirely lawful to
> impose severe limits on the ability to direct the Sole Member with respect
> to any statutory rights that are of concern.."
>
> Will be good to know how this will work with ACs especially if votes is
> used to gauge consensus (this ofcourse is not a legal question)
>
> Regards
>
> Sent from my Asus Zenfone2
> Kindly excuse brevity and typos.
> On 2 Oct 2015 20:39, "Gregory, Holly" <holly.gregory at sidley.com> wrote:
>
>> Thomas, Mathieu and Leon and CCWG,,
>>
>>  In addition to slides comparing the Sole Member, Sole Designator and
>> Board Proposal from last week (which we understand did not get posted yet)
>> , we are providing a memo as requested in LA that discusses how the
>> statutory rights of a member can be constrained in the Sole Member model.
>>
>> Kind regards, Holly and Rosemary
>>
>>
>>
>>
>>
>> *HOLLY* *GREGORY*
>> Partner
>>
>> *Sidley Austin LLP*
>> +1 212 839 5853
>> holly.gregory at sidley.com
>>
>>
>>
>>
>>
>>
>>
>>
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