Proposal of Amendments. Amendments to the Certificate and this Agreement may be proposed in writing by any Member. Copies of any amendments proposed to be made shall be sent to the Members.
Proposal of Amendments. Amendments to the Articles and this Agreement may be proposed in writing by the Board. If any such proposed amendment could adversely affect the classification of the Company as a partnership for federal income tax purposes, the proposed amendment must be accompanied by an opinion of counsel as to the legality and effect on the Company and the Members. Copies of any amendments proposed to be made pursuant to this Section shall be sent to each of the Members.
Proposal of Amendments. Except as otherwise specified in this Agreement, any amendment to this Agreement may be proposed by any Manager, by the Investment Adviser or by Members who, in aggregate, own not less than 10% of the Units owned by all such Members. The Person or Persons proposing such amendment shall submit to the Board of Managers: (i) the text of such amendment; (ii) a statement of the purpose of such amendment; and (iii) in the case of an amendment so proposed by the Members (other than an Investment Adviser), an opinion of counsel reasonably acceptable to the Managers obtained by the Members proposing such amendment to the effect that such amendment is permitted by the Investment Company Act, the Act and the laws of any other jurisdiction where the Company is qualified to do business, will not impair the limited liability of the Managers or Members, and will not adversely affect the classification of the Company as a partnership for federal and state income tax purposes. To the extent required by the Investment Company Act, the Board of Managers shall, within 40 days after receipt from Members of a proposal under clause (iii) of this Section 14.1 and the required opinion, give notification to all Members of such proposed amendment, of such statement of purpose, and of such opinion of counsel, together with the views, if any, of the Board of Managers and each Investment Adviser with respect to such proposed amendment. All amendments validly proposed by Members pursuant to clause (iii) of this Section 14.1 or proposed by Managers or the Investment Adviser but requiring the approval of Members shall be submitted to the Members for a vote no less than 10 days nor more than 90 days after the date of mailing of notice of the proposed amendment and will be adopted if approved (i) in the case of an amendment the adoption of which is recommended by the Board of Managers, an affirmative vote of a Majority in Interest of the Members, or (ii) in the case of an amendment the adoption of which has not been recommended by the Board of Managers, an affirmative vote of a Supermajority of Members, in each case subject to the approval of any greater number of Members as may be required by this Agreement or applicable law.
Proposal of Amendments. Except as otherwise specified in this Agreement, any amendment to this Agreement may be proposed by the Directors or by Investors other than the Directors who, in aggregate, own not less than 10% of the Shares owned by all such Investors. The Directors or Investors proposing such amendment shall submit to the Management Committee: (i) the text of such amendment; (ii) a statement of the purpose of such amendment; and (iii) an opinion of counsel obtained by the Directors or Investors proposing such amendment to the effect that such amendment is permitted by the Act and the laws of any other jurisdiction where the Fund is qualified to do business, will not impair the limited liability of the Directors or Investors, and will not adversely affect the classification of the Fund as a partnership for federal and state income tax purposes. The Management Committee shall, within 20 days after receipt of any proposal under this Section 6.01, give notification to all Directors and Investors of such proposed amendment, of such statement of purpose, and of such opinion of counsel, together, in the case of an amendment proposed by Investors, with the views, if any, of the Management Committee and the Investment Managers with respect to such proposed amendment. All proposed amendments shall be submitted to the Investors for a vote no less than 10 days nor more than 60 days after the date of mailing of such notice and will be adopted if approved by a Majority in Interest of the Investors. For purposes of obtaining a written vote, the Management Committee may require receipt of written responses within a specified time.
Proposal of Amendments. Amendments to this Agreement may be proposed by either the Managing Venturer or, subject to Section 4.11 hereof, by Venturers owning not less than 10% of all Units outstanding. Proposed amendments, subject to the conditions set forth in Section 5.5 hereof, may concern any Article of this Agreement.
Proposal of Amendments. Amendments to the Articles and this Agreement may be proposed in writing by any Member or Members or by the Manager. If required by the Manager, any such proposed amendment must be accompanied by an opinion of counsel as to the legality and effect on the Members. Copies of any amendments made pursuant to this Article XI must be sent to the Members.
Proposal of Amendments. 30 Section 14.2
Proposal of Amendments. Except as otherwise specified in this Agreement, any amendment to this Agreement may be proposed by the General Partners or by Limited Partners who, in aggregate, own not less than 10% of the Units owned by all Limited Partners. The Partners proposing such amendment shall submit to the Managing General Partners: (i) the text of such amendment; (ii) a statement of the purpose of such amendment; and (iii) an opinion of counsel obtained by the Partners proposing such amendment to the effect that such amendment is permitted by DRULPA and the laws of any other jurisdiction where the Partnership is qualified to do business, will not impair the limited liability of the Limited Partners, and will not adversely affect the classification of the Partnership as a partnership for federal income tax purposes. The Managing General Partners shall, within 20 days after receipt of any proposal under this Section 6.01, give notification to all Partners of such proposed amendment, of such statement of purpose, and of such opinion of counsel, together, in the case of an amendment proposed by Limited Partners, with the views, if any, of the Management Committee and the Managing General Partners with respect to such proposed amendment. All proposed amendments shall be submitted to the Limited Partners for a vote no less than 10 days nor more than 60 days after the date of mailing of such notice and will be adopted if approved by a Majority in Interest of the Limited Partners. For purposes of obtaining a written vote, the Managing General Partners may require receipt of written responses within a specified time.
Proposal of Amendments. Amendments to the Articles of Organization and this Operating Agreement may be proposed in writing by Members owning at least ten percent of the Units or by the Manager. If requested by the Company, those proposing the amendment must submit with any such proposal an opinion of counsel as to the legality and effect on the Members within ten days after such request. Copies of any amendments proposed pursuant to this Article 14 shall be sent to all the Members.
Proposal of Amendments. 46 14.2 Amendments to Be Adopted Solely by the Board of Directors...................................................46 14.3
