Common use of Company Reorganization Clause in Contracts

Company Reorganization. If the Managing Member, in its sole ---------------------- discretion, determines that conditions are favorable for the Company to reorganize as a corporation, the Company may be reorganized as a corporation and, in connection therewith, its equity interests (including but not limited to the Class B Shares) may be reclassified as shares of stock (or securities convertible into, or options to purchase, such shares of stock) in such corporation on such terms and conditions as are approved by the Managing Member, provided that the relative rights and preferences of the Class B Shares shall not be materially modified. Each Member (including the Class B Members) or other direct or indirect holder of Membership Shares will be required to execute and deliver such instruments or documents as may be necessary or advisable in connection with any such reorganization.

Company Reorganization. If the Managing Member, in its sole ---------------------- discretion, determines that conditions are favorable for the Company to reorganize as a corporation, the Company may be reorganized as a corporation and, in connection therewith, its equity interests (including but not limited to the Class B Shares) may be reclassified as shares of stock (or securities convertible into, or options to purchase, such shares of stock) in such corporation on such terms and conditions as are approved by the Managing Member, provided that the relative rights and preferences of the Class B Shares shall not be materially modified. Each Member (including the Class B Members) or other direct or indirect holder of Membership Shares will be required to execute and deliver such instruments or documents as may be necessary or advisable in connection with any such reorganization.