Authority to Issue Units and Preferred Units. 2.1.3.1 Subject to the conditions in this section, the Board of Managers may issue authorized, but unissued Units or non-designated Preferred Units in one or more classes or series as the Board of Managers may determine from time to time for such consideration and under such circumstances as the Board of Managers may approve. In addition, the Board of Managers is authorized to fix the number of any class (or series within a class) of Units or of any series of Preferred Units and to determine the designation of such classes or series, except that:
Appears in 4 contracts
Samples: Operating Agreement (JCM Partners LLC), Operating Agreement (JCM Partners LLC), Operating Agreement (JCM Partners LLC)
