Common use of Pledging the Class A Shares Clause in Contracts

Pledging the Class A Shares. A Series Member may pledge its Class A Shares as collateral for a loan, provided that the lien is extinguished prior to the Transfer of the shares, and the pledgor and lender agree that, if there is a foreclosure on the lien, the lender will notify the Managing Member and Transfer Agent of the Transfer, register the lender (or other transferee) on the Investor Platform and execute the documentation required of any transferee under this Article IV.

Pledging the Class A Shares. A Series Member may pledge its Class A Shares as collateral for a loan, provided that the lien is extinguished prior to the Transfer of the shares, and the pledgor and lender agree that, if there is a foreclosure on the lien, the lender will notify the Managing Member and Transfer Agent of the Transfertransfer, register the lender (or other transferee) on the Investor Platform and execute the documentation required of any transferee under this Article IV.