Amendment or Modification of Operating Agreement Sample Clauses

Amendment or Modification of Operating Agreement. This Operating Agreement may be amended or modified from time to time only by a written instrument adopted by a Member or Members holding at least a Majority of the Membership Units of the Company; provided, however that the unanimous consent or approval of the Members shall be required in order to make an amendment affecting how distributions and allocations under Article X or Article XIV will be made to the Members, an amendment affecting the rights or obligations of the Members with respect to Additional Capital Contributions or an amendment affecting the right of a member to transfer its Membership Units or the purchase price payable for Membership Units under Article XII.
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Amendment or Modification of Operating Agreement. This Operating Agreement may be amended or modified from time to time only by a written instrument adopted by the unanimous written consent of the Members; provided, however, that for so long as any of the Notes are outstanding, any amendment or modification to Article III, Article VII, Article XI, Article XIII or this Article XIV shall require the prior written consent of the Indenture Trustee and each nationally recognized statistical rating agency rating any of the Company's issued and outstanding Notes.
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Amendment or Modification of Operating Agreement. The Operating Agreement, including the Exhibits hereto, may be amended from time to time by the Board in accordance with the rights to make amendments as set forth in the other Articles of the Operating Agreement. In addition, the Operating Agreement may be amended or modified from time to time by a written instrument adopted and executed by the Board and a majority of the Members. No provision in the Operating Agreement may be amended to reduce the vote of the Members required to approve or consent to any matter.
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Amendment or Modification of Operating Agreement. The Operating Agreement may be amended or modified from time to time only by a written instrument adopted and executed by all of the Members.
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Amendment or Modification of Operating Agreement. The Operating Agreement may be amended or modified from time to time only by a written instrument adopted and executed by the Managing Member(s) and a Majority of the Members; provided, however, that any amendment to the Operating Agreement which would have the effect of reducing the number of Units of a Member, other than pursuant to specific provisions herein, shall not be effective unless consented to by such Member. Notwithstanding the foregoing, (i) no provision in the Operating Agreement may be amended to reduce the vote of the Members (including the Class B Members as a separate class) required to approve or consent to any matter except by a vote of Members (including the Class B Members as a separate class) which would be sufficient to approve or consent to such matter, and (ii) no provision of Section 7.0.9 or Article XIV shall be amended without the written consent of all of the Class B Members.
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Amendment or Modification of Operating Agreement. This Operating Agreement may be amended or modified from time to time only by a written instrument adopted by the unanimous written consent of its Board of Managers and executed by the unanimous consent of the Members; provided, however, that for so long as any Asset-Backed Securities are outstanding, any amendment or modification to Article III, Article VII(1) and (2), Article XI, Article XII or this Article XIII shall require prior notice to the rating agencies then rating the outstanding Asset-Backed Securities, if any, and confirmation from such rating agencies that such amendment or modification would not result in the qualification, withdrawal of downgrade of any securities rating.
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Amendment or Modification of Operating Agreement. The Operating Agreement may be amended or modified from time to time only be a written instrument adopted by the Manager, by unanimous written consent of its Board of Directors, and executed by the unanimous consent of the Members.
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Related to Amendment or Modification of Operating Agreement

  • Amendment or Modification This Agreement may be amended or modified from time to time only by a written instrument that is executed by the Member.

  • Amendment or Modification; Waiver No provision of this Agreement may be amended or waived, unless such amendment or waiver is agreed to in writing, signed by the Executive and by a duly authorized officer of the Company. No waiver by any party hereto of any breach by another party hereto of any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of a similar or dissimilar condition or provision at the same time, any prior time or any subsequent time.

  • Complete Agreement; Modification of Agreement This Agreement constitutes the complete agreement among the parties hereto with respect to the subject matter hereof, supersedes all prior agreements and understandings relating to the subject matter hereof, and may not be modified, altered or amended except as set forth in Section 8.6.

  • Amendment or Supplement At any time prior to the Effective Time, this Agreement may be amended or supplemented in any and all respects, whether before or after receipt of the Company Stockholder Approval, by written agreement of the parties hereto, by action taken by their respective Boards of Directors; provided, however, that following approval of the Transactions by the stockholders of the Company, there shall be no amendment or change to the provisions hereof which by Law would require further approval by the stockholders of the Company without such approval.

  • Modification of Agreement This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties hereto.

  • Amendment and Restatement; No Novation This Agreement constitutes an amendment and restatement of the Existing Credit Agreement, effective from and after the Closing Date. The execution and delivery of this Agreement shall not constitute a novation of any indebtedness or other obligations owing to the Lenders or the Administrative Agent under the Existing Credit Agreement based on facts or events occurring or existing prior to the execution and delivery of this Agreement. On the Closing Date, the credit facilities described in the Existing Credit Agreement shall be amended, supplemented, modified and restated in their entirety by this Agreement and the facilities described herein, and all loans and other obligations of the Borrower outstanding as of such date under the Existing Credit Agreement shall be deemed to be loans and obligations outstanding under the corresponding facilities described herein, without any further action by any Person, except that the Administrative Agent shall make such transfers of funds as are necessary in order that the outstanding balance of such Loans, together with any Loans funded on the Closing Date, reflect the respective Revolving Credit Commitments of the Lenders hereunder.

  • Modification Agreements The Servicer or the related Subservicer, as the case may be, shall be entitled to (A) execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by this Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Company shall promptly execute any such documents on request of the Servicer) and (B) approve the granting of an easement thereon in favor of another Person, any alteration or demolition of the related Mortgaged Property or other similar matters, if it has determined, exercising its good faith business judgment in the same manner as it would if it were the owner of the related Mortgage Loan, that the security for, and the timely and full collectability of, such Mortgage Loan would not be adversely affected thereby. A partial release pursuant to this Section 3.05 shall be permitted only if the Combined Loan-to-Value Ratio for such Mortgage Loan after such partial release does not exceed the Combined Loan-to-Value Ratio for such Mortgage Loan as of the Cut-Off Date. Any fee collected by the Servicer or the related Subservicer for processing such request will be retained by the Servicer or such Subservicer as additional servicing compensation.

  • Amendments to this Sub-Advisory Agreement This Sub-Advisory Agreement may be amended only by a written instrument approved in writing by all parties hereto.

  • Amendments to this Subadvisory Agreement This Subadvisory Agreement may be amended by mutual agreement in writing, subject to approval by the Board of Trustees of the Trust and the Fund’s shareholders to the extent required by the Act.

  • Amendments to Servicing Agreements, Modification of Standard Provisions (a) Subject to the prior written consent of the Trustee pursuant to Section 3.07(b), the Master Servicer from time to time may, to the extent permitted by the applicable Servicing Agreement, make such modifications and amendments to such Servicing Agreement as the Master Servicer deems necessary or appropriate to confirm or carry out more fully the intent and purpose of such Servicing Agreement and the duties, responsibilities and obligations to be performed by the Servicer thereunder. Such modifications may only be made if they are consistent with the REMIC Provisions, as evidenced by an Opinion of Counsel. Prior to the issuance of any modification or amendment, the Master Servicer shall deliver to the Trustee such Opinion of Counsel and an Officer's Certificate setting forth (i) the provision that is to be modified or amended, (ii) the modification or amendment that the Master Servicer desires to issue and (iii) the reason or reasons for such proposed amendment or modification.

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