Common use of LLC Divisions Clause in Contracts

LLC Divisions. For all purposes under the Loan Documents, in connection with any LLC Division or plan of LLC Division under Delaware law (or any comparable event under a different jurisdiction’s Laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

LLC Divisions. For all purposes under the Loan Documents, in connection with any LLC Division division or plan of LLC Division division under Delaware law (or any comparable event under a different jurisdiction’s Lawslaws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests equity interests at such time.. SECTION 2

LLC Divisions. For all purposes under the Loan Documents, in connection with any LLC Division division or plan of LLC Division division under Delaware law (or any comparable event under a different jurisdiction’s Lawslaws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.. ARTICLE II