Common use of Certificate Evidencing Membership Interest Clause in Contracts

Certificate Evidencing Membership Interest. Company shall not issue certificates evidencing the Membership Interests; provided, however, that if the Agent determines that certificates are necessary or appropriate for any purpose, including but not limited to the purpose of effecting the Member’s pledge of its Members Interest to its lender(s), #1158061v1 Operating Agreement Xxxxx Corning Roofing and Asphalt, LLC 4 the Agent may cause such certificate(s) to be issued and registered in the name of the Member in accordance with Schedule I. Each Membership Interest, whether or not certificated, shall constitute a “security” governed by Article 8 of the Uniform Commercial Code in effect from time to time in the State of Delaware.

Certificate Evidencing Membership Interest. Company shall not issue certificates evidencing the Membership Interests; provided, however, that if the Agent determines that certificates are necessary or appropriate for any purpose, including but not limited to the purpose of effecting the Member’s pledge of its Members Interest to its lender(s), #1158061v1 1158095v1 Operating Agreement Xxxxx Corning Roofing and AsphaltInsulating Systems, LLC 4 the Agent may cause such certificate(s) to be issued and registered in the name of the Member in accordance with Schedule I. Each Membership Interest, whether or not certificated, shall constitute a “security” governed by Article 8 of the Uniform Commercial Code in effect from time to time in the State of Delaware.

Certificate Evidencing Membership Interest. Company shall not issue certificates evidencing the Membership Interests; provided, however, that if the Agent determines that certificates are necessary or appropriate for any purpose, including but not #0000000x0 Operating Agreement Xxxxx Corning Fiberglas Technology II, LLC 4 limited to the purpose of effecting the Member’s pledge of its Members Interest to its lender(s), #1158061v1 Operating Agreement Xxxxx Corning Roofing and Asphalt, LLC 4 the Agent may cause such certificate(s) to be issued and registered in the name of the Member in accordance with Schedule I. Each Membership Interest, whether or not certificated, shall constitute a “security” governed by Article 8 of the Uniform Commercial Code in effect from time to time in the State of Delaware.

Certificate Evidencing Membership Interest. Company shall not issue certificates evidencing the Membership Interests; provided, however, that if the Agent determines that certificates are necessary or appropriate for any purpose, including but not #1158057v1 Operating Agreement Xxxxx Corning Science and Technology, LLC 4 limited to the purpose of effecting the Member’s pledge of its Members Interest to its lender(s), #1158061v1 Operating Agreement Xxxxx Corning Roofing and Asphalt, LLC 4 the Agent may cause such certificate(s) to be issued and registered in the name of the Member in accordance with Schedule I. Each Membership Interest, whether or not certificated, shall constitute a “security” governed by Article 8 of the Uniform Commercial Code in effect from time to time in the State of Delaware.