Examples of LLC Operating Agreement in a sentence
No Grantor shall enter into any transaction with any Affiliate, except as expressly permitted pursuant to Section 3.5 of the LLC Operating Agreement, without the prior written consent of the Collateral Agent.
Each Grantor expressly agrees that its obligations arising hereunder shall not be affected or diminished by the addition or release of any other Grantor hereunder, nor by any election of the Collateral Agent not to cause any Subsidiary (as defined in the LLC Operating Agreement) of Debtor to become a Grantor hereunder.
Debtor (a) shall at all times have in effect and be subject to the LLC Operating Agreement, (b) except as is otherwise expressly permitted therein, shall not amend or modify in any material respect the LLC Operating Agreement without the prior written approval of the Purchase Money Notes Guarantor, and (c) shall not enter into or allow itself to become subject to any other constituent documents inconsistent with any terms of the LLC Operating Agreement.