LLC Agreement Amendment Sample Clauses
An LLC Agreement Amendment clause outlines the process and requirements for making changes to the original LLC operating agreement. Typically, this clause specifies who must approve amendments—such as a majority or unanimous vote of the members—and may detail the procedures for proposing, documenting, and enacting changes. Its core function is to provide a clear, agreed-upon method for updating the agreement as the needs of the LLC evolve, ensuring that all members understand how modifications can be made and reducing the risk of disputes over unauthorized or unclear changes.
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LLC Agreement Amendment. The LLC Agreement is hereby amended as follows:
(a) Section 5.1(c)(ii) shall be amended by deleting the phrase “(the Management Board shall use commercially reasonable efforts to make such delegations within thirty (30) days of the Closing Date)” in its entirety.
(b) Section 5.1(c)(xx) shall be amended by deleting the phrase “established by the Vice President of Finance and Business Services” and replacing it with the phrase “established by the officer of the Company principally responsible for the Company’s financial matters”.
(c) Section 5.2 shall be amended by deleting the first two sentences and replacing them with the following: “The Management Board shall consist of four (4) Board Members. Each of BG Affiliate Group and EXCO Affiliate Group shall be entitled to appoint two (2) Board Members and two (2) alternate Board Members.”
(d) Section 5.3(d) shall be amended by deleting it in its entirety and replacing it with the following:
LLC Agreement Amendment. The Company shall have delivered to the Purchaser evidence that Amendment No. 1 to the LLC Agreement, in the form previously provided to the Purchaser, shall have been adopted and approved by the Equityholders having not less than the minimum number of votes necessary to approve such amendment.
LLC Agreement Amendment. The LLC Agreement is hereby amended by deleting the first sentence of Section 5.1 thereof and replacing it with the following in its place and stead: "For the period from the date hereof until the consummation of the IPO, (a) DEFS Holding shall own and hold all of Duke's Company Interests and (b) PGC shall own and hold all of ▇▇▇▇▇▇▇▇' Company Interests and shall have no other assets or liabilities."
LLC Agreement Amendment. Prior to the execution hereof, each of HP and FRIT shall have executed and delivered the amendment to the LLC Agreement in the form attached as Exhibit G hereto (the "Amended LLC Agreement").
LLC Agreement Amendment. An amendment (the “LLC Agreement Amendment”) to the Amended and Restated Limited Liability Company Agreement of the Company dated December 20, 2013 substantially in the form attached hereto as Exhibit B shall have been executed and delivered by Mesa.
LLC Agreement Amendment. The amendment of the Amended and Restated Limited Liability Company Agreement of ▇▇▇▇▇▇▇▇▇▇▇▇ Mining LLC pursuant to an instrument in substantially the form of Exhibit 4 annexed hereto (such amendment, together with the Security Document Amendment, the Mortgage Amendments and the Intercreditor Agreement Amendment, the "Other Amendment Documents"). Each Purchaser acknowledges and agrees that the Collateral Agent, in entering into the Other Amendment Documents to which it is intended to be a party, shall be entitled to rely upon the consent of such Purchaser pursuant to this Section 5.
LLC Agreement Amendment. The LLC Agreement is hereby amended as follows:
(a) Section 1.1 shall be amended by adding the following definitions in their correct alphabetical locations:
LLC Agreement Amendment. In furtherance of the foregoing and for other purposes stated therein, the Parties agree to execute simultaneously herewith that certain Third Amendment to the LLC Agreement attached hereto as Exhibit B and by this reference made a part hereof (the “3rd Amendment”).