Amendment of Independent Manager Definition. So long as any Securities are outstanding, the definition of “Independent Manager” and Sections 7.15 and 7.16 of this Agreement shall not be amended, altered, changed or repealed without the written consent of 100% of the Board (including the Independent Managers) with notice of such amendment provided promptly to each Rating Agency.
Appears in 46 contracts
Samples: Limited Liability Company Agreement (Honda Auto Receivables 2013-2 Owner Trust), Limited Liability Company Agreement (Honda Auto Receivables 2014-3 Owner Trust), Limited Liability Company Agreement (Honda Auto Receivables 2014-4 Owner Trust)
Amendment of Independent Manager Definition. So long as any Securities are outstanding, the definition of “Independent Manager” and Sections 7.15 and 7.16 of this Agreement shall not be amended, altered, changed or repealed without the unanimous written consent of 100% of the Board (including all of the Independent Managers) with notice of such amendment provided promptly to each Rating Agency.
Appears in 15 contracts
Samples: Limited Liability Company Agreement (Nissan-Infiniti Lt LLC), Limited Liability Company Agreement (Nissan Auto Leasing LLC Ii), Limited Liability Company Agreement (Nissan-Infiniti Lt)
Amendment of Independent Manager Definition. So long as any Securities are outstanding, the definition of “"Independent Manager” " and Sections 7.15 and 7.16 of this Agreement shall not be amended, altered, changed or repealed without the unanimous written consent of 100% of the Board (including all of the Independent Managers) with notice of such amendment provided promptly to each Rating Agency.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Nissan Auto Lease Trust 2003-A), Limited Liability Company Agreement (Nissan Auto Leasing LLC Ii)
Amendment of Independent Manager Definition. So long as any Securities are outstanding, the definition of “"Independent Manager” " and Sections 7.15 and 7.16 of this Agreement shall not be amended, altered, changed or repealed without the unanimous written consent of 100% of the Board (including the Independent Managers) with 10 days notice of such amendment provided promptly to each Rating Agency, during which time no Rating Agency shall have notified the Company that such action might or would result in the qualification, reduction or withdrawal of the ratings it has currently assigned to any outstanding Securities.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Toyota Auto Finance Receivables LLC)
