Encumbrances of Membership Interest. A Member may Encumber its Membership Interest if the instrument creating such Encumbrance provides that any foreclosure of such Encumbrance (or Disposition in lieu of such foreclosure) must comply with the requirements of Section 3.03(b).
Appears in 19 contracts
Samples: Limited Liability Company Agreement (Onsite Energy, Inc.), Limited Liability Company Agreement (Somerset Power LLC), Limited Liability Company Agreement (Somerset Power LLC)
Encumbrances of Membership Interest. A Member may Encumber its Membership Interest if (i) the instrument creating such Encumbrance provides that any foreclosure of such Encumbrance (or Disposition in lieu of such foreclosure) must comply with the requirements of Section 3.03(b), and (ii) any such Encumbrance is not prohibited by the Loan Documents.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (Louisiana Generating LLC), Limited Liability Company Agreement (Somerset Power LLC), Limited Liability Company Agreement (Somerset Power LLC)
Encumbrances of Membership Interest. A Member may Encumber its Membership Interest if (i) the instrument creating such Encumbrance provides that any foreclosure of such Encumbrance (or Disposition in lieu of such foreclosure) must comply with the requirements of Section 3.03(b).comply
Appears in 1 contract
Samples: Limited Liability Company Agreement (Louisiana Generating LLC)
Encumbrances of Membership Interest. A Member may Encumber its Membership Interest if the instrument creating such Encumbrance provides that any Disposition upon foreclosure of such Encumbrance (or Disposition in lieu of such foreclosure) must comply with the requirements of Section 3.03(b).
Appears in 1 contract
Samples: Equity Funding Agreement
