Common use of Members’ Covenants Clause in Contracts

Members’ Covenants. Each Member covenants on behalf of itself, its successors, permitted assigns, heirs, personal representatives, and successors: (a) To execute and deliver with acknowledgement or affidavit, if required, all documents and writings reasonably determined by the Managers to be necessary or appropriate to effect amendments to this Agreement made in accordance with its terms or to satisfy any tax or other information reporting responsibilities imposed on the Company; and (b) That, at the time the Member purchases its Member Interests, the Member will be an “accredited investor” as defined in Rule 501(a) promulgated under the Securities Act and the Member will promptly notify the Company if there is a change to this status in the future.

Members’ Covenants. Each Member covenants on behalf of itself, its successors, permitted assigns, heirs, personal representatives, and successors: (a) To execute and deliver with acknowledgement or affidavit, if required, all documents and writings reasonably determined by the Managers to be necessary or appropriate to effect amendments to this Agreement made in accordance with its terms or to satisfy any tax or other information reporting responsibilities imposed on the Company; and (b) That, at the time the Member purchases its Member Interests, the Member will be an “accredited investor” as defined in Rule 501(a) promulgated under the Securities Act and the Member will promptly notify the Company if there is a change to this status in the futurefuture to the extent that such classification is relevant to the Member’s contribution.