Common use of Splits and Reverse Splits Clause in Contracts

Splits and Reverse Splits. Subject to any protective provisions set forth in this Agreement or in any Certificate of Designations, the Board of Managers may effect a split or reverse split of any class of Units or any series of Preferred Units, by adopting a resolution to that effect. If the Board of Managers determines that it is desirable to make any filings in order to reference the existence of such a split or reverse split, the Board of Managers may cause such filings to be made. These filings may take the form of amendments to the Certificate. Unless specifically required by the Act, no approval or Consent of any Member shall be required in connection with the making of such filing.