Subdivision and Combination of Units. The Board of Directors, at any time and from time to time, may subdivide or combine all, but not less than all, of the Units then outstanding. Both the number of Units held by each Member immediately before any such subdivision or combination, and the total number of Units then outstanding, shall be adjusted accordingly. In the event of any such subdivision or combination, the value of a Unit immediately after such subdivision or combination shall equal the product of (a) the value of a Unit immediately prior to such subdivision or combination, (b) multiplied by a fraction, the numerator of which shall equal the number of Units outstanding immediately prior to such subdivision or combination and (c) the denominator of which shall equal the number of Units outstanding immediately after such subdivision or combination.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Oppenheimer Master Inflation Protected Securities Fund, LLC), Limited Liability Company Agreement (Oppenheimer Master Loan Fund, LLC), Limited Liability Company Agreement (Oppenheimer Master International Value Fund, LLC)
