Adjustments in Percentage Interests. The respective Percentage Interests of the Members shall be adjusted (a) at the time of any transfer of all or a portion of such Member’s Company Interest pursuant to Section 9.1, (b) at the time of the issuance of additional Company Interests pursuant to Section 8.2(b) and (c) at the time of the admission of each new Member in accordance with this Agreement, in each case to take into account such transfer, issuance or admission of a new Member. The Managing Member is authorized to amend Exhibit A to this Agreement to reflect any such adjustment without the consent of any other Member.
Appears in 7 contracts
Samples: Limited Liability Company Agreement (BP Midstream Partners LP), Contribution, Assignment and Assumption Agreement (BP Midstream Partners LP), Limited Liability Company Agreement (Oasis Midstream Partners LP)
Adjustments in Percentage Interests. The respective Percentage Interests of the Common Members shall be adjusted in accordance with the definition of Percentage Interest (a) at the time of any transfer of all or a portion of such Member’s Company Interest pursuant to Section 9.1, (b) at the time of the issuance of additional Company Interests pursuant to Section 8.2(b) and (c) at the time of the admission of each new Member in accordance with this Agreement, and (c) at the time any Default Contribution or Make-Up Contribution is made pursuant to Section 4.7, in each case to take into account such transfer, issuance or issuance, admission of a new MemberMember or capital contribution. The Managing Member is authorized to shall amend Exhibit A to this Agreement to reflect any such adjustment without the consent of any other Member.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Oasis Midstream Partners LP), Limited Liability Company Agreement (Oasis Midstream Partners LP), Contribution and Simplification Agreement (Oasis Midstream Partners LP)
Adjustments in Percentage Interests. The respective Percentage Interests of the Members shall be adjusted in accordance with the definition of Percentage Interest (a) at the time of any transfer of all or a portion of such Member’s Company Interest pursuant to Section 9.1, (b) at the time of the issuance of additional Company Interests pursuant to Section 8.2(b) ), and (c) at the time of the admission of each new Member in accordance with this Agreement, in each case to take into account such transfer, issuance or issuance, admission of a new MemberMember or capital contribution. The Managing Member is authorized to shall amend Exhibit A to this Agreement to reflect any such adjustment without the consent of any other Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Oasis Petroleum Inc.)
