Common use of Opt-in to Article 8 of the Uniform Commercial Code Clause in Contracts

Opt-in to Article 8 of the Uniform Commercial Code. The Company shall issue certificates in the name of the Member(s) or such other holders of limited liability company interests (the “LLC Interest Certificates”). Each LLC Interest Certificate shall bear, in effect, the following legend: “Each limited liability company interest in the Company represented by this certificate evidences an interest in the Company and shall constitute a “security” within the meaning of, and governed by, (i) Article 8 of the Uniform Commercial Code (including Section 102(a)(l 5) thereof) as in effect from time to time in the State of Georgia and (ii) Article 8 of the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws and approved by the American Bar Association on February 14, 1995 (and each limited liability company interest in the Company shall be treated as such a “security” for all purposes, including, without limitation, perfection of the security interest therein under Article 8 of each applicable Uniform Commercial Code as the Company has “opted-in” to such provisions).” This provision shall not be amended, and no such purported amendment to this provision shall be effective until all outstanding certificates have been surrendered for cancellation. All Units are “securities” governed by Article 8 of the Uniform Commercial Code as in effect from time to time in the State of Georgia.

Appears in 1 contract

Samples: Operating Agreement (Pathology Solutions, LLC)

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Opt-in to Article 8 of the Uniform Commercial Code. The Company shall issue certificates in the name of the Member(s) or such other holders of limited liability company interests (the “LLC Interest Certificates”). Each LLC Interest Certificate shall bear, in effect, the following legend: “Each limited liability company interest in the Company represented by this certificate evidences an interest in the Company and shall constitute a “security” within the meaning of, and governed by, (i) Article 8 of the Uniform Commercial Code (including Section 102(a)(l 5440.8102(1)(a) thereof) as in effect from time to time in the State of Georgia Michigan and (ii) Article 8 of the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws and approved by the American Bar Association on February 14, 1995 (and each limited liability company interest in the Company shall be treated as such a “security” for all purposes, including, without limitation, perfection of the security interest therein under Article 8 of each applicable Uniform Commercial Code as the Company has “opted-in” to such provisions).” This provision shall not be amended, and no such purported amendment to this provision shall be effective until all outstanding certificates have been surrendered for cancellation. All Units are “securities” governed by Article 8 of the Uniform Commercial Code as in effect from time to time in the State of GeorgiaMichigan.

Appears in 1 contract

Samples: Operating Agreement (Pathology Solutions, LLC)

Opt-in to Article 8 of the Uniform Commercial Code. The Company shall issue certificates in the name of the Member(s) or such other holders of limited liability company interests (the “LLC Interest Certificates”). Each LLC Interest Certificate shall bear, in effect, the following legend: “Each limited liability company interest in the Company represented by this certificate evidences an interest in the Company and shall constitute a “security” within the meaning of, and governed by, (i) Article 8 of the Uniform Commercial Code (including Section 102(a)(l 58-102(a)(15) thereof) as in effect from time to time in the State of Georgia Delaware and (ii) Article 8 of the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws and approved by the American American. Bar Association on February 14, 1995 (and each limited liability company interest in the Company shall be treated as such a “security” for all purposes, including, without limitation, limitation perfection of the security interest therein under Article 8 of each applicable Uniform Commercial Code as the Company has “opted-in” to such provisions).” This provision shall not be amended, and no such purported amendment to this provision shall be effective until all outstanding certificates have been surrendered for cancellation. All Units are “securities” governed by Article 8 of the Uniform Commercial Code as in effect from time to time in the State of GeorgiaDelaware.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Pathology Solutions, LLC)

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Opt-in to Article 8 of the Uniform Commercial Code. The Company shall issue certificates in the name of the Member(s) or such other holders of limited liability company interests (the “LLC Interest Certificates”). Each LLC Interest Certificate shall bear, in effect, the following legend: “Each limited liability company interest in the Company represented by this certificate evidences an interest in the Company and shall constitute a “security” within the meaning of, and governed by, (i) Article 8 of the Uniform Commercial Code (including Section 8-102(a)(l 5) thereof) as in effect from time to time in the State of Georgia New York and (ii) Article 8 of the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws and approved by the American Bar Association on February 14, 1995 (and each limited liability company interest in the Company shall be treated as such a “security” for all purposes, including, without limitation, perfection of the security interest therein under Article 8 of each applicable Uniform Commercial Code as the Company has “opted-in” to such provisions).” This provision shall not be amended, and no such purported amendment to this provision shall be effective until all outstanding certificates have been surrendered for cancellation. All Units are “securities” governed by Article 8 of the Uniform Commercial Code as in effect from time to time in the State of GeorgiaNew York.

Appears in 1 contract

Samples: Operating Agreement (Pathology Solutions, LLC)

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