Restatement of Operating Agreement Clause Samples

Restatement of Operating Agreement. Upon the admittance of USE as a Member, USE and the Initial Members shall execute and deliver upon the Closing the Restated Operating Agreement in the form attached hereto as Annex A and hereby made a part hereof, including Exhibit A thereto, providing that USE will have a Percentage interest equal to 25% and each of the Initial Members will have a Percentage interest equal to 37.5%.
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Related to Restatement of Operating Agreement

  • Statement of Operations Statement of Changes in Net Assets.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

  • AMENDING OPERATING AGREEMENT This Agreement may only be amended by an affirmative vote or consent of all Members.

  • Operating Agreement You have received and read a copy of the Company’s Operating Agreement (the “Operating Agreement”) and agree that your execution of this Subscription Agreement constitutes your consent to the Operating Agreement, and that upon acceptance of this Subscription Agreement by the Company, you will become a member of the Company as a holder of Class A Units. When this Subscription Agreement is countersigned by the Company, the Operating Agreement shall be binding upon acceptance of your subscription.

  • Fifth Amended and Restated Limited Liability Company Operating Agreement Dated as of November 30, 2012