Member Stock Authorization Sample Clauses

Member Stock Authorization. The Borrower(s) hereby authorize(s): P▇▇▇ ▇▇▇▇ D▇▇▇▇, III to exercise Borrower's voting rights and to request a conversion of Member Stock from one class to another or the retirement or transfer of all or part of Member Stock. Borrower(s) hereby authorize Lender to make checks for any dividends which may be declared or checks for canceled Member Stock proceeds payable to H.D.D . LLC as sole payee. Lender will issue Internal Revenue Service Form 1099-PATR in the name of the party authorized to receive dividends hereinabove.