Purchase or Sale of Membership Interests. The Managing Member may cause the Company to purchase or otherwise acquire Membership Interests or Derivative Membership Interests; provided that, the Managing Member may not cause any Group Member to purchase Subordinated Units during the Subordination Period. As long as Membership Interests are held by any Group Member, such Membership Interests shall not be considered Outstanding for any purpose, except as otherwise provided herein. The Managing Member or any Affiliate of the Managing Member may also purchase or otherwise acquire and sell or otherwise dispose of Membership Interests for its own account, subject to the provisions of Article IV and Article X.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (First Solar, Inc.), Limited Liability Company Agreement (8point3 Energy Partners LP), Limited Liability Company Agreement (Sunpower Corp)
Purchase or Sale of Membership Interests. The Managing Member Manager may cause the Company to purchase or otherwise acquire Membership Interests or Derivative Membership Interests; provided that, except as permitted pursuant to Section 4.9, the Managing Member Manager may not cause any Group Member to purchase Subordinated Units during the Subordination Period. As long as Membership Interests are held by any Group Member, such Membership Interests shall not be considered Outstanding for any purpose, except as otherwise provided herein. The Managing Member Manager or any Affiliate of the Managing Member Manager may also purchase or otherwise acquire and sell or otherwise dispose of Membership Interests for its own account, subject to the provisions of Article Articles IV and Article X.
Appears in 1 contract
Samples: Operating Agreement (Niska Gas Storage Partners LLC)
Purchase or Sale of Membership Interests. The Managing Member may cause the Company to purchase or otherwise acquire Membership Interests or Derivative Membership Interests; provided that, the Managing Member may not cause any Group Member to purchase Subordinated Units during the Subordination Period. As long as Membership Interests are held by any Group Member, such Membership Interests shall not be considered Outstanding for any purpose, except as otherwise provided herein. The Managing Member or any Affiliate of the Managing Member may also purchase or otherwise acquire and sell or otherwise dispose of Membership Interests for its own account, subject to the provisions of Article Article IV and Article Article X.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Sunpower Corp)
Purchase or Sale of Membership Interests. The Managing Member Manager may cause the Company to purchase or otherwise acquire Membership Interests or Derivative Membership Interests; provided that, except as permitted pursuant to Section 4.9 or with approval of the Managing Member Conflicts Committee, the Manager may not cause any Group Member to purchase Subordinated Units during the Subordination PeriodIncentive Distribution Rights. As long as Membership Interests are held by any Group Member, such Membership Interests shall not be considered Outstanding for any purpose, except as otherwise provided herein. The Managing Member Manager or any Affiliate of the Managing Member Manager may also purchase or otherwise acquire and sell or otherwise dispose of Membership Interests for its own account, subject to the provisions of Article Articles IV and Article X.
Appears in 1 contract
Samples: Operating Agreement (Niska Gas Storage Partners LLC)