Common use of Managing Member’s Power to Amend Clause in Contracts

Managing Member’s Power to Amend. Notwithstanding Section 14.1.1, either Managing Member shall have the power to amend this Agreement as may be required to facilitate or implement any of the following purposes: (a) to reflect the admission, substitution, termination, or withdrawal of Members in accordance with this Agreement; or (b) to satisfy any order, directive, opinion, ruling or regulation of a federal or state agency or contained in federal or state law applicable to the Company or any Subsidiary and required to be complied with; or (c) to conform to any “single-purpose entity” requirements of a Lender; or (d) to correct any non-substantive, typographical errors in this Agreement. The Member proposing the amendment will provide at least ten (10) days’ prior written notice to the other Member when any action under this Section 14.1.2 is taken.

Managing Member’s Power to Amend. Notwithstanding Section 14.1.1, either Managing Member shall have the power to amend this Agreement as may be required to facilitate or implement any of the following purposes: (a) to reflect the admission, substitution, termination, or withdrawal of Members in accordance with this Agreement; or (b) to satisfy any order, directive, opinion, ruling or regulation of a federal or state agency or contained in federal or state law applicable to the Company or any Subsidiary and required to be complied with; or (c) to conform to any “single-purpose entity” requirements of a Lender; or (d) to correct any non-substantive, typographical errors in this Agreement. The Member proposing the amendment will provide at least ten (10) days’ prior written notice to the other Member when any action under this Section 14.1.2 is taken.