Common use of Limitations on the Company’s Activities Clause in Contracts

Limitations on the Company’s Activities. The Initial Members shall not, so long as any Note or Other Obligation is outstanding, amend, alter, change or repeal the definition of “Independent Manager” or Sections 4.1, 7.1, 8.1, 8.3, 8.4, 11.1, 12.1, 13.1, 14.1, 15.1, 16.1, 16.2 or 16.3 or the Definitions Addendum of this Agreement without the unanimous written consent of the Manager and at least two Independent Managers. Subject to this Section 8.4, the Initial Members reserve the right to amend, alter, change or repeal any provisions contained in this Agreement in accordance with Section 16.3.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Consolidation Loan Funding, LLC), Limited Liability Company Agreement (Higher Education Funding I)

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Limitations on the Company’s Activities. The Initial Members Member shall not, so long as any Note or Other Obligation is outstanding, amend, alter, change or repeal the definition of “Independent Manager” or Sections 4.1, 7.1, 8.1, 8.3, 8.4, 11.1, 12.1, 13.1, 14.1, 15.1, 16.1, 16.2 or 16.3 or the Definitions Addendum of this Agreement without the unanimous written consent of the Manager and at least two one Independent ManagersManager. Subject to this Section 8.4, the Initial Members reserve Member reserves the right to amend, alter, change or repeal any provisions contained in this Agreement in accordance with Section 16.3.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Consolidation Loan Funding Ii, LLC)

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Limitations on the Company’s Activities. The Initial Members Member shall not, so long as any Note or Other Obligation is outstanding, amend, alter, change or repeal the definition of “Independent Manager” or Sections 4.1, 7.1, 8.1, 8.3, 8.4, 11.1, 12.1, 13.1, 14.1, 15.1, 16.1, 16.2 or 16.3 or the Definitions Addendum of this Agreement without the unanimous written consent of the Manager and at least two one Independent ManagersManager. Subject to this Section 8.4, the Initial Members reserve Member reserves the right to amend, alter, change or repeal any provisions contained in this Agreement in accordance with Section 16.3.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Goal Capital Funding, LLC)

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