Common use of Authorization to Issue Shares Clause in Contracts

Authorization to Issue Shares. (a) The Company may issue Shares, and options, rights and warrants relating to Shares, for any Company or Series purpose at any time and from time to time to such Persons for such consideration (which may be cash, property, services or any other lawful consideration) or for no consideration and on such terms and conditions as the Managing Member shall determine, all without the approval of the Economic Members. Each Share shall have the rights and be governed by the provisions set forth in this Agreement (including any Series Designation). (b) Unless otherwise provided in the applicable Series Designation, the Company is authorized to issue in respect of each Series an unlimited number of Shares. All Shares issued pursuant to, and in accordance with the requirements of, this Article III shall be validly issued Shares in the Company and the related Series, except to the extent otherwise provided in the Delaware Act or this Agreement (including any Series Designation).