Operating Agreements definition
Examples of Operating Agreements in a sentence
Neither Loan Party shall cause or permit or otherwise cause or suffer to exist or become effective any contractual encumbrance or restriction of any kind (other than pursuant to this Agreement and the TIBE Operating Agreements) on the ability of any Project Company to (i) pay dividends or make any other distributions on any of such Project Company’s Equity Interests owned by the Borrower or (ii) repay or prepay any Indebtedness owed by such Project Company to the Borrower.
At the Effective Time, the effect of the Merger shall be as provided in the applicable provisions of the LLC Act and Section 3.9 of each of the Operating Agreements.
In the event that any Wxxxx or future wxxxx are subject to a Joint Operating Agreement with Seller or any third party as operator, Seller shall upon request of Buyer nominate and vote for Buyer to become the operator under such Joint Operating Agreement(s).
The effects and consequences of the Merger shall be as set forth in this Agreement, the Operating Agreements and the LLC Act.
The Borrower shall not, and neither Loan Party shall cause or permit the Project 33 Project Company to amend, amend and restate, or otherwise modify the Project 33 Operating Agreement to in connection with a tax equity transaction without the consent of the Lender (such approval not to be unreasonably withheld, conditioned or delayed as long as such tax equity transaction is substantially similar to the existing TIBE Operating Agreements).