Common use of Changes Affecting Members Clause in Contracts

Changes Affecting Members. Notwithstanding Section 15A, any amendment to this Agreement that would adversely affect the federal income tax treatment to be afforded a Member, adversely affect the liabilities of a Member, modify any consent and approval rights reserved by the Members or change the method of allocation of Net Income or Net Loss, Gain or Loss from Sale, or the distribution of funds available for distribution as provided in Section 6 and 14, shall require the approval of the Member affected; provided, however, that the Members are authorized to modify Section 6, without the consent of the Members affected, if, upon advice of counsel for the Company, the modification is necessary to cause the allocations under Section 6 to have substantial economic effect or to be in accordance with the Members' interests under Section 704 of the Code and the most recently proposed or final Regulations thereunder, so long as the modification does not, by its terms, alter the limited liability of the Members and provided that the modification is not likely to have a material effect on the amounts distributable to any Member pursuant to this Agreement.

Changes Affecting Members. Notwithstanding Section 15A, any amendment to this Agreement that would adversely affect the federal income tax treatment to be afforded a Member, adversely affect the liabilities of a Member, modify any consent and approval rights reserved by the Members or change the method of allocation of Net Income or Net Loss, Gain or Loss from Sale, or the distribution of funds available for distribution as provided in Section 6 and 14, shall require the approval of the Member affected; provided, however, that the Members are authorized to modify Section 6, without the consent of the Members affected, if, upon advice of counsel for the Company, the modification is necessary to cause the allocations under Section 6 to have substantial economic effect or to be in accordance with the Members' interests under Section 704 of the Code and the most recently proposed or final Regulations thereunder, so long as the modification does not, by its terms, alter the limited Limited liability of the Members and provided that the modification is not likely to have a material effect on the amounts distributable to any Member pursuant to this Agreement.