Common use of Certificates for Membership Units Clause in Contracts

Certificates for Membership Units. The Company shall, on request, deliver to each Member a certificate indicating that such Member owns the number of Membership Units set out thereon. Every certificate must be signed by a Manager of the Company. If any certificate is lost, mutilated, stolen or destroyed, the Company shall issue a replacement certificate to the Member upon receipt of evidence satisfactory to either of the Managers of such loss, mutilation, theft or destruction, and upon receiving such indemnification as either of the Managers deems appropriate in the circumstances. In the event of a transfer pursuant to Section 18, the transferring Member shall return to the Company any certificate(s) representing the Membership Units being transferred, and the Company shall, on request, issue a new certificate to the transferee Member for any transferred Membership Units. In the case of a transfer of less than all of the Membership Units represented by a certificate, the Company shall, on request, issue to the transferring Member a new certificate for the balance of the Membership Units retained by the transferring Member.

Certificates for Membership Units. The Company shall, on request, deliver to each Member a certificate indicating that such Member owns the number of Membership Units set out thereon. Every certificate must be signed by a Manager of the Company. If any certificate is lost, mutilated, stolen or destroyed, the Company shall issue a replacement certificate to the Member upon receipt of evidence satisfactory to either of the Managers of such loss, mutilation, theft or destruction, and upon receiving such indemnification as either of the Managers deems deem appropriate in the circumstances. In the event of a transfer pursuant to Section 18, the transferring Member shall return to the Company any certificate(s) representing the Membership Units being transferred, and the Company shall, on request, issue a new certificate to the transferee Member for any transferred Membership Units. In the case of a transfer of less than all of the Membership Units represented by a certificate, the Company shall, on request, issue to the transferring Member a new certificate for the balance of the Membership Units retained by the transferring Member.

Certificates for Membership Units. The Company shall, on request, deliver to each Member a certificate indicating that such Member owns the number of Membership Units set out thereon. Every certificate must be signed by a Manager of the CompanyManager. If any certificate is lost, mutilated, stolen or destroyed, the Company shall issue a replacement certificate to the Member upon receipt of evidence satisfactory to either of the Managers of such loss, mutilation, theft or destruction, and upon receiving such indemnification as either of the Managers deems appropriate in the circumstances. In the event of a transfer pursuant to Section 18, the transferring Member shall return to the Company any certificate(s) representing the Membership Units being transferred, and the Company shall, on request, issue a new certificate to the transferee Member for any transferred Membership Units. In the case of a transfer of less than all of the Membership Units represented by a certificate, the Company shall, on request, issue to the transferring Member a new certificate for the balance of the Membership Units retained by the transferring Member.