Common use of Consent of the Member Clause in Contracts

Consent of the Member. At any time that the Company only has one Member, the affirmative consent (regardless of whether written, oral or by course of conduct) of the Member will constitute “consent of all members” for purposes of the Act, except to the extent that a nonwaivable provision of the Act requires that such consent be in writing, in which case the written consent of the Member will constitute the “written consent of all the members.”

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Ally Auto Assets LLC), Limited Liability Company Agreement (Ally Wholesale Enterprises LLC), Limited Liability Company Agreement (Ally Auto Assets LLC)

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Consent of the Member. At any time that the Company only has one Member, the affirmative consent (regardless of whether written, oral or by course of conduct) of the Member will shall constitute “written consent of all members” for purposes of the Act, except to the extent that a nonwaivable non-waivable provision of the Act requires that such consent be in writing, in which case the written consent of the Member will shall constitute the written consent of all the membersMembers.

Appears in 1 contract

Samples: Limited Liability Company Agreement (CPM Holdings, Inc.)

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