Authorization and Issuance of Units. 4.1.1 A total of One Hundred Thousand (100,000) Units are hereby authorized for issuance. The number of Units authorized for issuance pursuant to this Section 4.1 may be increased from time to time as deemed necessary by the Member.
Authorization and Issuance of Units. The Company is hereby authorized to issue Units. There are 3,580,379 Units (the “Initial Units”) issued and outstanding to the Members in the amounts set forth on the Schedule of Members opposite the names of the Members. In any matters presented to the Members for approval or consent pursuant to this Agreement or applicable law, each Member shall be deemed to have one vote for each Unit held by such Member. The Company and the Members agree that, if any Units are intended to be issued to other investors from time-to-time as provided in Section 3.5, then the Company is authorized to sell and issue such unissued Units to such new investors selected by the Board with such Capital Contributions as determined by the Board, as provided in Section 3.5.
Authorization and Issuance of Units. The issuance by AD of the AD Units has been duly authorized by all necessary action on the part of AD and, upon issuance in accordance with the terms hereof, the AD Units will be validly issued, fully paid and non-assessable, free and clear of all liens.
Authorization and Issuance of Units. The issuance by the UBL of the Units has been duly authorized by all necessary action on the part of the UBL and, upon issuance in accordance with the terms hereof, the Units will be validly issued, fully paid and non-assessable, free and clear of all liens.
Authorization and Issuance of Units. Provided the Manager has first obtained the consent of not less than sixty-five percent (65%) of the Priority Members, the Company is hereby authorized to (a) issue an unlimited number of Class A Units and Class B Units, (b) create other classes and series of Units and (c) issue or to provide for the issuance of Units in any class or series by amending this Agreement to fix the relative rights, obligations, preferences and limitations of the Units of each such class or series, subject however, to the restrictions set forth in Section 8.1(b). Upon any issuance of Units, the Manager shall adjust the Capital Accounts of the Members as necessary to reflect such issuance.
Authorization and Issuance of Units. Increase or decrease the number of authorized Series A Preferred Units or authorize or issue any new class or series of Units that are pari passu with the Series A Preferred Units or senior to the Series A Preferred Units in respect of any right, preference or privilege under this Agreement, any other agreement entered into in connection with the Investment or the Act.
Authorization and Issuance of Units. The Company hereby authorizes and issues that number of Units, in such class, and to such Members as set forth on Schedule “A”. The Managers will revise Schedule “A” from time to time to reflect any changes in the ownership or classification of the Units. 3.3
Authorization and Issuance of Units. The Units shall be authorized and issued by the Company and evidenced by certificates representing the Unit Shares and certificates representing the Warrants to be dated as of the Closing Date. The Term Sheet, a copy of which is attached hereto as Schedule "A", summarizes the terms of the Offering. As part of the Offering, the Company shall:
Authorization and Issuance of Units. Subject to compliance with Section 7.01(f), the Company is hereby authorized to issue Units. As of the date hereof, 1,000 Units are issued and outstanding in the amounts set forth on Exhibit B hereto.
Authorization and Issuance of Units. (a) The Units which the Company has authority to issue consist of 10,000,000 Class A Common Units, 400,000 Class B Common Units and 600,000 Class C Common Units. Unless otherwise determined by the Board, Units issued hereunder shall not be certificated.
