Amendments to the Operating Agreement. This Operating Agreement may be amended by a simple majority vote of the current members of the Montana State University All Staff Council. Any staff member may submit proposed changes to any of these procedures to the Governance Committee. Submissions must be in writing. The Governance Committee shall review submissions and present them to the Executive Board and then the Council at the next monthly meeting. Council members shall be provided an opportunity to discuss the proposed amendments and make recommendations. Any adopted amendments shall be dated and a record kept by the Program Coordinator.
Amendments to the Operating Agreement. Effective as of and contingent upon the occurrence of the payment by the Company of the Debt Financed Distributions and the conversion of the Preferred Units in accordance with Sections 1 and 2 of this Amendment No. 7:
3.1 Schedule I of the Operating Agreement shall be amended and restated in the form attached hereto as Schedule I, and as a result thereof, to reflect the resulting effect on the Sharing Ratios (as defined in the Operating Agreement) and the cancellation of all Preferred Units of the Company; and
3.2 The first sentence of Section 6.01 of the Operating Agreement shall be amended and restated in its entirety to read as follows: “The Company has authorized capital of no Preferred Units and Fifteen Thousand (15,000) Common Units, which amounts are subject to increase as provided for in Section 6.06 below.”
3.3 Section 7.07 of the Operating Agreement shall be amended and restated in its entirety to read as follows: “To the extent it may legally do so, the Board shall cause the Company to distribute each quarter (or at such time prior to the end of a quarter as approved by the Board in connection with the Company’s initial public offering) to each Member an amount sufficient to pay the federal, state, provincial, and local income tax liability of such Member (or, in the event a Member is an S corporation or a partnership, the tax liability of its shareholders or partners) in respect of any Profits allocated to such Member, determined in accordance with the maximum marginal federal income tax rate applicable to individuals and the maximum marginal state income tax rate applicable to individuals for the state in which any Member is domiciled for state tax purposes which has the highest such maximum marginal rate.”
Amendments to the Operating Agreement. In connection with the Department’s requirement, Section 7.4(c) of the Operating Agreement is deleted. It provided that:
Amendments to the Operating Agreement. The Operating Agreement is hereby amended as follows:
(a) Each of the following terms and definitions contained in Section 1.1 of the Operating Agreement is hereby amended and restated to read in its entirety as follows:
Amendments to the Operating Agreement. MADE BY THIS AMENDMENT NO. 11: The Operating Agreement is hereby amended by adding the following provision to Section 6.3:
Amendments to the Operating Agreement. 1.1 The references to “January 1, 2015” and “December 31, 2017” in the first sentence of Section 13.1(A) of the Operating Agreement are hereby replaced with “January 1, 2016” and “December 31, 2018,” respectively, such that the first sentence now reads, in part:
(A) If, and only if, Micron has not timely provided to Intel a Micron Call Option Exercise Notice in accordance with Section 13.2(A) and a Change of Control Micron Call Option Exercise Period is not then subsisting, then at any time between and including January 1, 2016 and December 31, 2018 (the “Scheduled Intel Put Option Exercise Period”)…”
1.2 The references to “January 1, 2018” and “December 31, 2020” in the first sentence of Section 13.2(A) of the Operating Agreement are hereby replaced with “January 1, 2019” and “December 31, 2021,” respectively, such that the first sentence now reads, in part:
(A) If, and only if, Intel has not timely provided to Micron an Intel Put Option Exercise Notice in accordance with Section 13.1(A) and a Change of Control Intel Put Option Exercise Period is not then subsisting, then at any time between and including January 1, 2019 and December 31, 2021 (the “Scheduled Micron Call Option Exercise Period”)…”
1.3 The reference to January 1, 2021 in the definition of "Distribution Amount" in Appendix A to the Operating Agreement is hereby replaced with January 1, 2022.
Amendments to the Operating Agreement. 9
7.1 AUTHORITY TO EXECUTE, PERFORM AND CLOSE IN ACCORDANCE WITH THE TERMS OF THIS PURCHASE AGREEMENT............................10 7.2 DISTRIBUTIONS OF FCA PROCEEDS FROM THE LLC .....................10 7.3 DISTRIBUTION OF REDUCTION AMOUNT FROM LLC.......................10 7.4 REMOVAL OF THE SELLER AS A PARTY TO THE OPERATING AGREEMENT.....10
Amendments to the Operating Agreement. All amendments to this Agreement shall be made by a two-thirds vote of the Council.
Amendments to the Operating Agreement. Proposed amendments to this Agreement must be published by the Council sixty (60) days prior to the meeting at which they will be discussed in order to allow feedback from ABOR, AZCCD and AZPPSE and the Arizona XXXX member institutions.
Amendments to the Operating Agreement. Pursuant to Section 13.5 of the Operating Agreement, effective simultaneously with the consummation of the purchase and sale of the Securities (as defined in the Purchase Agreement), the Operating Agreement is hereby amended as follows:
(a) Section 6.2(a) is hereby deleted and replaced in its entirety to read as follows:
