Interests in a Member. A Member that is not a natural person may not cause or permit an interest, direct or indirect, in itself to be Disposed of such that, after the Disposition, (i) the Company would be considered to have terminated within the meaning of Section 708 of the Code or (ii) without the consent of the Manager, it shall cease to be controlled by substantially the same Persons who control it as of the date of its admission to the Company as a Member.
Appears in 11 contracts
Samples: Operating Agreement (Stack Rock Capital, L.L.C.), Operating Agreement (Boise White Paper Sales Corp.), Limited Liability Company Agreement (Boise White Paper Sales Corp.)
Interests in a Member. A Member that is not a natural person may not cause or permit an interest, direct or indirect, in itself to be Disposed of such that, after the Disposition, (i) the Company would be considered to have terminated within the meaning of Section 708 of the Code or (ii) without the consent of the ManagerBoard, it shall cease to be controlled by substantially the same Persons who control it as of the date of its admission to the Company as a Member.
Appears in 3 contracts
Samples: Operating Agreement (Boise Cascade Holdings, L.L.C.), Operating Agreement (Boise Cascade Holdings, L.L.C.), Operating Agreement (Officemax Inc)
Interests in a Member. A Member that is not a natural person may not cause or permit an interest, direct or indirect, in itself to be Disposed of such that, after the Disposition, (ia) the Company would be considered to have terminated within the meaning of Section 708 of the Code (in the event the Company is treated as a partnership for federal income tax purposes) or (iib) without the consent of the ManagerManagers and a Required Interest, it that Member shall cease to be controlled by substantially the same Persons who control it as of the date of its admission to the Company as a MemberCompany.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Kaiser Texas Sierra Micromills LLC), Limited Liability Company Agreement (Kaiser Texas Sierra Micromills LLC)
Interests in a Member. A Member that is not a natural person may not cause or permit an interest, direct or indirect, in itself to be Disposed of such that, after the Disposition, (i) the Company would be considered to have terminated within the meaning of Section 708 of the Code or (ii) without the consent of the ManagerManagers, it shall cease to be controlled by substantially the same Persons who control it as of the date of its admission to the Company as a Member.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (US Power Generating CO)
