Examples of Third LLC Agreement in a sentence
Accordingly, the Exchange proposes to update the text in the first paragraph of the LLC Agreement to reflect this change, thereby deleting reference to the name and date of the First LLC Agreement, and inserting the name and date of the Second LLC Agreement as being amended and restated by the Third LLC Agreement.
For the avoidance of doubt, the Third LLC Agreement and the Letter Agreement are superseded by this Agreement as of the Effective Time and shall be of no further force and effect thereafter.
The number of Common Units received by each of WP and RIHI reflect a 25:1 (twenty-five to one) split of the residual common Company Interest previously held by each of WP and RIHI and reflected in Section 4.1(a)(iv) and other applicable provisions of the Third LLC Agreement.
The Third LLC Agreement shall govern the rights and obligations of the parties to the Fourth LLC Agreement and the Unitholders for the time prior to the Effective Time.
The Preferred Units received by WP have an aggregate liquidation preference of $49,850,000 and reflect the preferred Company Interest previously held by WP and reflected in Sections 4.1(a)(i), (ii), and (iii) and other applicable provisions of the Third LLC Agreement.
At the same time, and also in connection with the Recapitalization, immediately upon the Effective Time, the aggregate number of 847,500 Class B Common Units (as defined in the Third LLC Agreement) that were issued and outstanding and held by RIHI prior to the execution and effectiveness of this Agreement are converted hereby into 21,187,500 Common Units.
Paul, by contrast, maintains that because the Third LLC Agreement is the governing agreement, Section 5.09 of the First LLC Agreement is irrelevant.In its FAQs, the Company boldly asserted that the appraisal turned on a legal question.
Holdings may not be removed as a Manager except as provided in Section 6.4. Any Manager that is properly removed pursuant to Section 6.4 shall be replaced in the manner provided in Section 6.5. The Original Members terminate as of the Effective Time the “Board” previously established in order to conduct the business of the Company pursuant to the Third LLC Agreement (as such term was previously defined in the Third LLC Agreement).
The court therefore will provide further guidance.How the Third LLC Agreement applies to this case raises an issue of contract interpretation.
The Third LLC Agreement separately referenced the Ninth Amendment in Section 5.09, which stated that the 7 Dkt.