Optional Redemption of GM Preferred Membership Interests. (a) Subject to Section 5.2(c), the GM Preferred Membership Interests shall not be redeemable or repurchaseable by the Company, except as set forth in this Section 12.4 or as otherwise agreed to by the Majority GM Preferred Holders or in connection with a Company Conversion.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Gmac LLC), Limited Liability Company Operating Agreement (Gmac LLC), Limited Liability Company Operating Agreement (Gmac LLC)
Optional Redemption of GM Preferred Membership Interests. (a) Subject to Section 5.2(c5.3(c), the GM Preferred Membership Interests shall not be redeemable or repurchaseable by the Company, except as set forth in this Section 12.4 or as otherwise agreed to by the Majority GM Preferred Holders or in connection with a Company Conversion.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Gmac LLC)
Optional Redemption of GM Preferred Membership Interests. (a) Subject to Section 5.2(c5.4(c), the GM Preferred Membership Interests shall not be redeemable or repurchaseable by the Company, except as set forth in this Section 12.4 12.5 or as otherwise agreed to by the Majority GM Preferred Holders or in connection with a Company Conversion.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Gmac LLC)
