Common use of Certain Amendment Requirements Clause in Contracts

Certain Amendment Requirements. (a) Notwithstanding the provisions of Sections 9.1 and 9.3, no provision of this Agreement that establishes a percentage of Outstanding Shares required to take any action shall be amended, altered, changed, repealed or rescinded in any respect that would have the effect of reducing such voting percentage unless such amendment is approved by the affirmative vote of holders of Outstanding Shares whose aggregate Outstanding Shares constitute not less than the voting requirement sought to be reduced. (b) Notwithstanding the provisions of Sections ‎9.1 and ‎9.3, but subject to Section ‎9.2, no amendment to this Agreement may (i) enlarge the obligations of any Member without its consent, unless such shall be deemed to have occurred as a result of an amendment approved pursuant to ‎Section 9.3(c), (ii) change ‎Section 8.1(a), (iii) change the term of the Company or, (iv) except as set forth in ‎Section 8.1(a), give any Person the right to dissolve the Company. 41 (c) Except as provided in ‎Section 10.3, and subject to ‎Section 3.4(a) and the terms of any Series Designation or Share Designation, and without limitation of the Board of Directors' authority to adopt amendments to this Agreement without the approval of any Members as contemplated in ‎Section 9.1, notwithstanding the provisions of ‎Section 9.1, any amendment that would have a material adverse effect on the rights or preferences of any class or series of Shares of a Series in relation to other classes or series of Shares of such Series must be approved by the holders of a majority of the Outstanding Shares of the class or series affected.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Etre Reit, LLC)

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Certain Amendment Requirements. (a) Notwithstanding the provisions of Sections 9.1 and 9.3, no provision of this Agreement that establishes a percentage of Outstanding Shares required to take any action shall be amended, altered, changed, repealed or rescinded in any respect that would have the effect of reducing such voting percentage unless such amendment is approved by the affirmative vote of holders of Outstanding Shares whose aggregate Outstanding Shares constitute not less than the voting requirement sought to be reduced. (b) Notwithstanding the provisions of Sections ‎9.1 9.1 and ‎9.39.3, but subject to Section ‎9.29.2, no amendment to this Agreement may (i) enlarge the obligations of any Member without its consent, unless such shall be deemed to have occurred as a result of an amendment approved pursuant to ‎Section Section 9.3(c), (ii) change ‎Section Section 8.1(a), (iii) change the term of the Company or, (iv) except as set forth in ‎Section Section 8.1(a), give any Person the right to dissolve the Company. 41. (c) Except as provided in ‎Section Section 10.3, and subject to ‎Section Section 3.4(a) and the terms of any Series Designation or Share Designation, and without limitation of the Board of Directors' authority to adopt amendments to this Agreement without the approval of any Members as contemplated in ‎Section Section 9.1, notwithstanding the provisions of ‎Section Section 9.1, any amendment that would have a material adverse effect on the rights or preferences of any class or series of Shares of a Series in relation to other classes or series of Shares of such Series must be approved by the holders of a majority of the Outstanding Shares of the class or series affected.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Etre Reit, LLC)

Certain Amendment Requirements. (a) Notwithstanding the provisions of Sections 9.1 and 9.3, no provision of this Agreement that establishes a percentage of Outstanding Shares required to take any action shall be amended, altered, changed, repealed or rescinded in any respect that would have the effect of reducing such voting percentage unless such amendment is approved by the affirmative vote of holders of Outstanding Shares whose aggregate Outstanding Shares constitute not less than the voting requirement sought to be reduced. (b) Notwithstanding the provisions of Sections ‎9.1 Section 9.1 and ‎9.3Section 9.3, but subject to Section ‎9.29.2, no amendment to this Agreement may (i) enlarge the obligations of any Member without its consent, unless such shall be deemed to have occurred as a result of an amendment approved pursuant to ‎Section Section 9.3(c), (ii) change ‎Section Section 8.1(a), (iii) change the term of the Company or, (iv) except as set forth in ‎Section Section 8.1(a), give any Person the right to dissolve the Company. 41. (c) Except as provided in ‎Section Section 10.3, and subject to ‎Section Section 3.4(a) and the terms of any Series Designation or Share Designation, and without limitation of the Board of Directors' authority to adopt amendments to this Agreement without the approval of any Members as contemplated in ‎Section Section 9.1, notwithstanding the provisions of ‎Section Section 9.1, any amendment that would have a material adverse effect on the rights or preferences of any class or series of Shares of a Series in relation to other classes or series of Shares of such Series must be approved by the holders of a majority of the Outstanding Shares of the class or series affected.

Appears in 1 contract

Samples: Limited Liability Company Agreement (ETRE Residential, LLC)

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Certain Amendment Requirements. (a) i. Notwithstanding the provisions of Sections 9.1 16(a) and 9.316(c), no provision of this Agreement that establishes a percentage of Outstanding Shares required to take any action shall be amended, altered, changed, repealed or rescinded in any respect that would have the effect of reducing such voting percentage unless such amendment is approved by the affirmative vote of holders of Outstanding Shares whose aggregate Outstanding Shares constitute not less than the voting requirement sought to be reduced. (b) ii. Notwithstanding the provisions of Sections ‎9.1 Section 16(a) and ‎9.3Section 16(c), but subject to Section ‎9.216(b), no amendment to this Agreement may (i) enlarge the obligations of any Member without its consent, unless such shall be deemed to have occurred as a result of an amendment approved pursuant to ‎Section 9.3(cSection 16(c), (ii) change ‎Section 8.1(a)Section 17, (iii) change the term of the Company or, (iv) except as set forth in ‎Section 8.1(a)Section 17, give any Person the right to dissolve the Company. iii. 41 (c) Except as provided in ‎Section 10.3, and subject to ‎Section 3.4(a) and the terms of any Series Designation or Share Designationthis Agreement, and without limitation of the Board of Directors' authority to adopt amendments to this Agreement without the approval of any Members as contemplated in ‎Section 9.1Section 16(a), notwithstanding the provisions of ‎Section 9.1Section 16(a), any amendment that would have a material adverse effect on the rights or preferences of any class or series of Shares of a Series in relation to other classes or series of Shares of such Series must be approved by the holders of a majority of the Outstanding Shares of the class or series affected.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Reliance Real Estate Trust, LLC)

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