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Common use of AUTOMATIC PROVISIONS Clause in Contracts

AUTOMATIC PROVISIONS. If the Conversion Approval has not occurred within 135 days after the date hereof, then, effective as of the next succeeding day (the “Class D Distribution Increase Date”) until the Conversion Approval is obtained, Section 5.11(b) will be deemed to be amended in its entirety, automatically and without further action, as follows:

Appears in 5 contracts

Sources: Amendment No. 1 to Amended and Restated Operating Agreement (Atlas Resources Public #16-2007 (A) L.P.), Amendment No. 1 to Amended and Restated Operating Agreement (Atlas Energy Resources, LLC), Operating Agreement (Atlas Resources Public #18-2008 (A) L.P.)

Related Clauses

  • BASIC PROVISIONS
  • Definitions and Basic Provisions
  • Lock-Up Provisions
  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation
  • Incorporation of Administrative Code Provisions by Reference

Parent Clauses

  • Reliance by Third Parties
  • Right to Vote and Related Matters
  • AMOUNTS AND TERMS OF THE ADVANCES
  • Amendment
  • Establishment of Class B Units

Sub-Clauses

  • Allocations
  • Allocation of Net Termination Loss to Class B Unitholders
  • Allocation of Net Termination Gain to Class B Unitholders
  • Elimination of Cumulative Class B Unit Arrearages Upon Conversion; Excess Payments
  • Distributions from Operating Surplus During the Subordination Period
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