Common use of LLC Interests not Securities Clause in Contracts

LLC Interests not Securities. The Company represents and warrants to the Administrative Agent and the Lenders that the Pledged LLC Interests are not “Securities” within the meaning of Article 8 of the Uniform Commercial Code in effect in any relevant jurisdiction. The Company agrees that it will not permit any LLC Issuer to take any actions that would result in any Pledged LLC interests’ becoming “Securities” within the meaning of Article 8 of the Uniform Commercial Code in effect in any relevant presentation.

LLC Interests not Securities. The Company Parent represents and warrants to the Administrative Agent and the Lenders that the Pledged LLC Interests are not “Securities” within the meaning of Article 8 of the Uniform Commercial Code in effect in any relevant jurisdiction. The Company Parent agrees that it will not permit any LLC Issuer to take any actions that would result in any Pledged LLC interests’ becoming “Securities” within the meaning of Article 8 of the Uniform Commercial Code in effect in any relevant presentation.