Opt-In. No Loan Party that is a limited liability company will or will permit any of its Restricted Subsidiaries that are limited liability companies to amend its operating agreement to “opt in” to Article 8 of the Uniform Commercial Code and have its membership interests be treated as securities within the meaning of Section 8-102 of the Uniform Commercial Code.
Appears in 3 contracts
Samples: Forbearance Agreement and Fourth Amendment to Loan and Security Agreement (TENOR CAPITAL MANAGEMENT Co., L.P.), Forbearance Agreement and Fourth Amendment to Loan and Security Agreement (Endurant Capital Management LP), Forbearance Agreement and Fourth Amendment to Loan and Security Agreement (DG Capital Management, LLC)
Opt-In. No Loan Party that is a limited liability company will or will permit any of its Restricted Subsidiaries that are limited liability companies to amend its operating agreement to “"opt in” " to Article 8 of the Uniform Commercial Code and have its membership interests be treated as securities within the meaning of Section 8-102 of the Uniform Commercial Code.
Appears in 1 contract
Samples: Loan and Security Agreement (INVACARE HOLDINGS Corp)