Common use of Reliance on Procedures Clause in Contracts

Reliance on Procedures. If applicable, so long as Cede & Co., as nominee of DTC, is the registered owner of any LLC Interests, references herein to the registered or record owners of such LLC Interests shall mean Cede & Co. and shall not mean the Beneficial Owners of such LLC Interests. Beneficial Owners of LLC Interests will not be entitled to have such LLC Interests registered in their names, will not receive or be entitled to receive physical delivery of certificates in definitive form and will not be considered the record or registered holder of such LLC Interests under this Agreement. Accordingly, except as the Company may otherwise determine, to exercise any rights of a holder of LLC Interests under this Agreement, a Beneficial Owner must rely on the procedures of DTC and, if such Beneficial Owner is not a DTC Participant, on the procedures of each DTC Participant or Indirect Participant through which such Beneficial Owner holds its interests. The Board understands that under existing industry practice, if the Board requests any action of a Beneficial Owner of LLC Interests whose LLC Interests are registered in the name of Cede & Co., as nominee for DTC, or such Beneficial Owner desires to take any action that DTC, as the record owner of all outstanding LLC Interests of such Beneficial Owner, is entitled to take, DTC will notify the DTC Participants regarding such request, such DTC Participants will in turn notify each Indirect Participant holding LLC Interests through it, with each successive Indirect Participant continuing to notify each Person holding LLC Interests through it until the request has reached the Beneficial Owner, and in the case of a request or authorization to act being sought or given by a Beneficial Owner of LLC Interests whose LLC Interests are registered in the name of Cede & Co., as nominee of DTC, such request or authorization is given by the Beneficial Owner and relayed back to the Board through each Indirect Participant and DTC Participant through which the Beneficial Owner’s interest in the LLC Interests is held.

Reliance on Procedures. If applicable, so So long as Cede & Co., as nominee of DTCthe Depository, is the registered owner of any LLC InterestsLimited Shares, references herein to the registered or record owners of such LLC Interests Limited Shares shall mean Cede & Co. and shall not mean the DTC Participants, Indirect Participants, or Beneficial Owners of such LLC InterestsOwners. Beneficial Owners of LLC Interests will not be entitled to have such LLC Interests Limited Shares registered in their names, will not receive or be entitled to receive physical delivery of certificates in definitive form and will not be considered the record or registered holder of such LLC Interests Limited Shares under this Trust Agreement. Accordingly, except as the Company may otherwise determine, to exercise any rights of as a holder of LLC Interests under this AgreementBeneficial Owner, a Beneficial Owner must rely on the procedures of DTC andthe Depository, if such Beneficial Owner is not a DTC Participant, on the procedures of each DTC Participant or Indirect Participant Participant, as applicable, through which such Beneficial Owner holds its interestsBeneficial Interest. The Board understands Trust and the Sponsor understand that under existing industry practice, if the Board Trust requests any action of a Beneficial Owner of LLC Interests whose LLC Interests are registered in the name of Cede & Co., as nominee for DTCLimited Owner, or such Beneficial a Limited Owner desires to take any action that DTCthe Depository, as the record owner of all outstanding LLC Interests of such Beneficial OwnerLimited Shares, is entitled to take, DTC in the case of a Trust request, the Depository will notify the DTC Participants regarding such request, such DTC Participants will in turn notify each Indirect Participant holding LLC Beneficial Interests through it, with each successive Indirect Participant continuing to notify each Person person indirectly holding LLC Beneficial Interests through it until the request has reached the ultimate Beneficial Owner, and in the case of a request or authorization to act being sought or given by a Beneficial Owner of LLC Interests whose LLC Interests are registered in the name of Cede & Co., as nominee of DTCLimited Owner, such request or authorization is given by the ultimate Beneficial Owner and relayed back to the Board Trust through each Indirect Participant and DTC Participant through which the such ultimate Beneficial Owner’s interest in the LLC Interests 's Beneficial Interest is held.