Member Actions. Each of the following actions shall require the approval of a majority of the Percentage Interest of the Members entitled to vote: (a) sale or issuance of any Units; (b) sale, assignment, pledge, mortgage or other encumbering of any of the Company’s property except for sales of supplies and other current assets in the ordinary course of the Company’s business; (c) borrowing money in the name of the Company other than incurring accounts payables, trade payables and other similar payables in the ordinary course of the Company’s business; (d) entering into a merger, consolidation or similar transaction; (e) entering into any partnership, joint venture or similar relationship; (f) amending this Agreement or the Certificate of Formation of the Company (the “Certificate”); (g) dissolving the Company; (h) taking any other action which this Agreement or the Act expressly provides for the approval of the Member(s); and (i) agreeing to or obligating the Company to do any of the foregoing.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (PHC Hospitals, LLC), Limited Liability Company Agreement (PHC Hospitals, LLC), Limited Liability Company Agreement (PHC Hospitals, LLC)
Member Actions. Each of the following actions shall require the approval of a majority of the Percentage Interest of the Members entitled to vote:
(a) sale or issuance of any Units;
(b) sale, assignment, . pledge, mortgage or other encumbering of any of the Company’s property except for sales of supplies and other current assets in the ordinary course of the Company’s business;
(c) borrowing money in the name of the Company other than incurring accounts payables, trade payables and other similar payables in the ordinary course of the Company’s business;
(d) entering into a merger, consolidation or similar transaction;
(e) entering into any partnership, joint venture or similar relationship;
(f) amending this Agreement or the Certificate of Formation of the Company (the “Certificate”);
(g) dissolving the Company;
(h) taking any other action which this Agreement or the Act expressly provides for the approval of the Member(s); and
(i) agreeing to or obligating the Company to do any of the foregoing.
Appears in 1 contract
Samples: Limited Liability Company Agreement (PHC Hospitals, LLC)
Member Actions. Each of the following actions shall require the approval of a majority of the Percentage Interest interest of the Members entitled to vote:
(a) sale or issuance of any Units;
(b) sale, assignment, pledge, mortgage or other encumbering of any of the Company’s property except for sales of supplies and other current assets in the ordinary course of the Company’s business;
(c) borrowing money in the name of the Company other than incurring accounts payables, trade payables and other similar payables in the ordinary course of the Company’s business;
(d) entering into a merger, consolidation or similar transaction;
(e) entering into any partnership, joint venture or similar relationship;
(f) amending this Agreement or the Certificate of Formation of the Company (the “Certificate”);
(g) dissolving the Company;
(h) taking any other action which this Agreement or the Act expressly provides for the approval of the Member(s); and
(i) agreeing to or obligating the Company to do any of the foregoing.
Appears in 1 contract
Samples: Limited Liability Company Agreement (PHC Hospitals, LLC)