Common use of Membership Interests Certificated Clause in Contracts

Membership Interests Certificated. The Company shall be authorized to issue 100 membership units of which all 100 membership units shall be issued to Sole Member. The interests of the Sole Member in the Company shall be certificated. Pursuant to and in accordance with the provisions of 6 Del. Code Section 8-103(c), all membership interests shall be considered and treated as “securities” (within the meaning of 6 Del. Code Section 8-102 (a)(15)) governed by Article 8 of the Delaware Uniform Commercial Code. The Manager may cause any or all membership interests to be evidenced and represented by a certificate of limited liability company interest issued by the Company to the Member in form and substance as determined by the Manager. Any such certificate is intended to be and shall be considered a “security certificate” within the meaning of 6 Del. Code Section 8-102(a)(16). The membership interests represented or evidenced by such certificate(s) are intended to be treated as and shall be considered “certificated securities” within the meaning of 6 Del. Code Section 8-102(a)(4). The Manager is hereby authorized, empowered and directed to execute and deliver any such certificate.

Membership Interests Certificated. The Company shall be authorized to issue 100 membership units of which all 100 membership units shall be issued to the Sole Member. The interests of the Sole Member in the Company shall be certificated. Pursuant to and in accordance with the provisions of 6 Del. Code Section 8-103(c), all membership interests shall be considered and treated as “securities” (within the meaning of 6 Del. Code Section 8-102 (a)(15102(a)(15)) governed by Article 8 of the Delaware Uniform Commercial Code. The Manager may cause any or all membership interests to be evidenced and represented by a certificate of limited liability company interest issued by the Company to the Member in form and substance as determined by the Manager. Any such certificate is intended to be and shall be considered a “security certificate” within the meaning of 6 Del. Code Section 8-102(a)(16). The membership interests represented or evidenced by such certificate(s) are intended to be treated as and shall be considered “certificated securities” within the meaning of 6 Del. Code Section 8-102(a)(4). The Manager is hereby authorized, empowered and directed to execute and deliver any such certificate.