Common use of Certification of Limited Liability Company Interests and Limited Partnership Interests Clause in Contracts

Certification of Limited Liability Company Interests and Limited Partnership Interests. To the extent any interest in any limited liability company or limited partnership which is a Grantor or a Subsidiary of a Grantor organized under the laws of the United States or any jurisdiction thereof and that is controlled by any Grantor is represented by a certificate and is pledged hereunder, each such interest shall be a “security” within the meaning of Article 8 of the New York UCC and shall be governed by Article 8 of the New York UCC. For the avoidance of doubt, no such limited liability company or limited partnership shall be required to include in its operative documents or any such certificate any provision that any such interests shall be a “security” within the meaning of Article 8 of the New York UCC.

Certification of Limited Liability Company Interests and Limited Partnership Interests. To the extent any interest in any limited liability company or limited partnership which is a Grantor or a Subsidiary of a Grantor organized under the laws of the United States or any jurisdiction thereof and that is controlled Controlled by any Grantor is represented by a certificate and is pledged hereunder, each such interest shall be a “security” within the meaning of Article 8 of the New York UCC and shall be governed by Article 8 of the New York UCC. For the avoidance of doubt, no such limited liability company or limited partnership shall be required to include in its operative documents or any such certificate any provision that any such interests shall be a “security” within the meaning of Article 8 of the New York UCC.