Common use of Exchange Dates; Exchange Notices Clause in Contracts

Exchange Dates; Exchange Notices. (a) The Managing Member shall establish one or more dates in each Annual Period as a date on which certain Class B-1 Members shall be required, in accordance with the terms and timing described in Section 2.02 below, to Exchange their Class B-1 Units (such date, an “Exchange Date”), provided that the Managing Member may, by notice to each Class B-1 Member, postpone any Exchange Date one or more times. For the avoidance of doubt, the Managing Member may establish as many Exchange Dates as it shall determine in its sole discretion.

Exchange Dates; Exchange Notices. (a) The Managing Member shall establish one or more dates in each Annual Period as a date on which certain the Class B-1 B Members shall be required, in accordance with the terms and timing described in Section 2.02 below, permitted to Exchange their Class B-1 B Units (such date, an “Exchange Date”), provided that the Managing Member may, by notice to each Class B-1 B Member, postpone any Exchange Date one or more times. For the avoidance of doubt, the Managing Member may establish as many Exchange Dates as it shall determine in its sole discretion.