Examples of Existing Operating Agreement in a sentence
Any references in the Existing Operating Agreement or any other document to the Existing Operating Agreement (including by use of the terms "herein," "hereof," "hereinafter," "hereto" and words of similar import), shall, unless the context otherwise requires, mean the Existing Operating Agreement, as amended by this Amendment.
Capitalized terms used herein without definition shall have the meanings set forth in the Existing Operating Agreement.
The definition of "Units" contained in Section 1.1 of the Existing Operating Agreement is hereby deleted in its entirety and the following is hereby inserted in lieu thereof: "Units" shall mean units of membership interest in the Company, including (except as otherwise expressly provided herein) the rights to allocations, distributions, management, approval and participation provided herein.
New Section 2.1.3 is hereby added to the 13 Existing Operating Agreement which will read as follows: 14 “2.1.3 XXX has the exclusive right to elect to extend the Term beyond the 15 Termination Date in two (2) additional increments of five (5) years each (collectively, the 16 “Additional Extension Options” and each an “Additional Extension Option”).
Except as amended hereby, the Existing Operating Agreement shall continue in full force and effect in accordance with the provisions thereof on the date hereof.