Common use of Amendments Without Consent of the Members Clause in Contracts

Amendments Without Consent of the Members. In addition to the Amendments authorized pursuant to Section 4.10 and Section 7.3.12 or otherwise authorized herein, the Manager may amend this Agreement, without the consent of any of the Members, to (i) change the name and/or principal place of business of the Company, or (ii) decrease the rights and powers of the Manager (so long as such decrease does not impair the ability of the Manager to manage the Company and conduct its business and affairs); provided, however, that no amendment shall be adopted pursuant to this Section 16.3 unless the adoption thereof (A) is for the benefit of or not adverse to the interests of the Members, (B) is not inconsistent with Section 7, and (C) does not affect the limited liability of the Members or the status of the Company as a Company for federal income tax purposes.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

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Amendments Without Consent of the Members. In addition to the Amendments authorized pursuant to Section 4.10 4.9 and Section 7.3.12 7.3.11 or otherwise authorized herein, the Manager may amend this Agreement, without the consent of any of the Members, to (i) change the name and/or principal place of business of the Company, or (ii) decrease the rights and powers of the Manager (so long as such decrease does not impair the ability of the Manager to manage the Company and conduct its business and affairs); provided, however, that no amendment shall be adopted pursuant to this Section 16.3 unless the adoption thereof (A) is for the benefit of or not adverse to the interests of the Members, (B) is not inconsistent with Section 7, and (C) does not affect the limited liability of the Members or the status of the Company as a Company partnership for federal income tax purposes.

Appears in 2 contracts

Samples: Operating Agreement (NNN 2002 Value Fund LLC), Operating Agreement (NNN 2002 Value Fund LLC)

Amendments Without Consent of the Members. In addition to the Amendments amendments authorized pursuant to Section 4.10 4.8 and Section 7.3.12 7.3.15 or otherwise authorized herein, the Manager Managers may amend this Agreement, without the consent of any of the Members, to (i) change the name and/or principal place of business of the Company, Company or (ii) decrease the rights and powers of the Manager Managers (so long as such decrease does not impair the ability of the Manager Managers to manage the Company and conduct its business and affairs); provided, however, that no amendment shall be adopted pursuant to this Section 16.3 14.4.3 unless the adoption thereof (A) is for the benefit of or not adverse to the interests of the Members, Members and (B) is not inconsistent with Section 7, and (C) does not affect the limited liability of the Members or the status of the Company as a Company partnership for federal income tax purposes.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)

Amendments Without Consent of the Members. In addition to the Amendments amendments authorized pursuant to Section 4.10 and Section 7.3.12 7.3.11 or otherwise authorized herein, the Manager may amend this Agreement, without the consent of any of the Members, to (i) change the name and/or principal place of business of the Company, Company or (ii) decrease the rights and powers of the Manager (so long as such decrease does not impair the ability of the Manager to manage the Company and conduct its business and affairs); provided, however, that no amendment shall be adopted pursuant to this Section 16.3 unless the adoption thereof (A) is for the benefit of or not adverse to the interests of the Members, Members and (B) is not inconsistent with Section 7, and (C) does not affect the limited liability of the Members or the status of the Company as a Company for federal income tax purposesMembers.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)

Amendments Without Consent of the Members. In addition to the Amendments authorized pursuant to Section 4.10 and Section 7.3.12 7.2.13 or otherwise authorized herein, the Manager may amend this Agreement, without the consent of any of the Members, to (i) change the name and/or principal place of business of the CompanyFund, or (ii) decrease the rights and powers of the Manager (so long as such decrease does not impair the ability of the Manager to manage the Company Fund and conduct its business and affairs); provided, however, that no amendment shall be adopted pursuant to this Section 16.3 unless the adoption thereof thereof (A) is for the benefit of or not adverse to the interests of the Members, and (B) is not inconsistent with Section 7, and (C) does not affect the limited liability of the Members or the status of the Company Fund as a Company partnership for federal income tax purposes.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Amendments Without Consent of the Members. In addition to the Amendments authorized pursuant to Section 4.10 and Section 7.3.12 4.9 or otherwise authorized herein, the Manager may amend this Agreement, without the consent of any of the Members, to (i) change the name and/or principal place of business of the Company, or (ii) decrease the rights and powers of the Manager (so long as such decrease does not impair the ability of the Manager to manage the Company and conduct its business and affairs); provided, however, that no amendment shall be adopted pursuant to this Section 16.3 unless the adoption thereof (A) is for the benefit of or not adverse to the interests of the Members, (B) is not inconsistent with Section 7, and (C) does not affect the limited liability of the Members or the status of the Company as a Company partnership for federal Federal income tax purposes.

Appears in 1 contract

Samples: Operating Agreement (T Reit Inc)

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Amendments Without Consent of the Members. In addition to the ----------------------------------------- Amendments authorized pursuant to Section 4.10 and Section 7.3.12 7.3.11 or otherwise authorized herein, the Manager may amend this Agreement, without the consent of any of the Members, to (i) change the name and/or principal place of business of the Company, or (ii) decrease the rights and powers of the Manager (so long as such decrease does not impair the ability of the Manager to manage the Company and conduct its business and affairs); provided, however, that no amendment shall be adopted pursuant to this Section 16.3 unless the adoption thereof (A) is for the benefit of or not adverse to the interests of the Members, (B) is not inconsistent with Section 7, and (C) does not affect the limited liability of the Members or the status of the Company as a Company partnership for federal income tax purposes.

Appears in 1 contract

Samples: Operating Agreement (T Reit Inc)

Amendments Without Consent of the Members. In addition to the Amendments authorized pursuant to Section 4.10 and Section 7.3.12 7.2.13 or otherwise authorized herein, the Manager may amend this Agreement, without the consent of any of the Members, to (i) change the name and/or principal place of business of the CompanyFund, or (ii) decrease the rights and powers of the Manager (so long as such decrease does not impair the ability of the Manager to manage the Company Fund and conduct its business and affairs); provided, however, that no amendment shall be adopted pursuant to this Section 16.3 unless the adoption thereof (A) is for the benefit of or not adverse to the interests of the Members, and (B) is not inconsistent with Section 7, and (C) does not affect the limited liability of the Members or the status of the Company Fund as a Company partnership for federal income tax purposes.

Appears in 1 contract

Samples: Operating Agreement

Amendments Without Consent of the Members. In addition to the Amendments amendments authorized pursuant to Section 4.10 4.9 and Section 7.3.12 7,3.11 or otherwise authorized herein, the Manager may amend this Agreement, without the consent of any of the Members, to (i) change the name and/or principal place of business of the Company, or (ii) decrease the rights and powers of the Manager (so long as such decrease does not impair the ability of the Manager to manage the Company and conduct its business and affairs); provided, however, that no amendment shall be adopted pursuant to this Section 16.3 unless the adoption thereof (A) is for the benefit of or not adverse to the interests of the Members, (B) is not inconsistent with Section 7, and (C) does not affect the limited liability of the Members or the status of the Company as a Company partnership for federal income tax purposes.

Appears in 1 contract

Samples: Operating Agreement (NNN 2003 Value Fund LLC)

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