Availability of Rights. At any time (i) after the third anniversary of this Agreement or (ii) that the Members are unable to agree on a Major Decision and such failure to agree has continued for fifteen (15) days after written notice from one Member to the other Member indicating an intention to exercise rights under this Section 15.1, either Member may exercise its right to initiate the provisions of this Section 15.1.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Bluerock Enhanced Multifamily Trust, Inc.), Limited Liability Company Agreement (Bluerock Enhanced Multifamily Trust, Inc.), Limited Liability Company Agreement (Bluerock Enhanced Multifamily Trust, Inc.)
Availability of Rights. At any time (i) after the third anniversary of this Agreement or (ii) that the Members are unable to agree on a Major Decision and such failure to agree has continued for fifteen (15) days after written notice from one Member to the other Member indicating an intention to exercise rights under this Section 15.1, either Member may exercise its right to initiate the provisions of this Section 15.1.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Availability of Rights. At any time (i) after the third anniversary of this Agreement or (ii) that the Members are unable to agree on a Major Decision and such failure to agree has continued for fifteen (15) days after written notice from one Member to the other Member Members indicating an intention to exercise rights under this Section 15.1, either any Member may exercise its right to initiate the provisions of this Section 15.1.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Bluerock Enhanced Multifamily Trust, Inc.)
Availability of Rights. At any time (i) after the third anniversary of this Agreement or (ii) that the Members Members/Representatives of the Management Committee are unable to agree on a Major Decision and such failure to agree has continued for fifteen (15) days after written notice from one Member to the other Member Members indicating an intention to exercise rights under this Section 15.1, either Member SOIF or BEMT may exercise its right to initiate the provisions of this Section 15.1.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Bluerock Enhanced Multifamily Trust, Inc.)
Availability of Rights. At any time (i) after the third anniversary of this Agreement or (ii) that the Members are unable to agree on a Major Decision and such failure to agree has continued for fifteen (15) days after written notice from one Member to the other Member indicating an intention to exercise rights under this Section 15.1, either Member may exercise its right to initiate the provisions of this Section 15.1. In addition, upon the occurrence of a Hawthorne Change Event, Bluerock may exercise its right to initiate the provisions of this Section 15.1.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Bluerock Enhanced Multifamily Trust, Inc.)
