An amendment to an operating agreement is a modification or addition made to the terms and provisions of an existing operating agreement, typically used by LLCs. This clause outlines the process and requirements for making such changes, ensuring that all parties have a clear understanding of how amendments can be proposed, approved, and documented.
AMENDMENT TO OPERATING AGREEMENT This Amendment to the Operating Agreement is made as of December 30, 2019, between Charles Schwab & Co., Inc. (“Schwab”), a California corporation, Grantham, Mayo, Van Otterloo & Co. LLC (“Fund Affiliate”), and each registered investment company (“Fund Company”) executing this Amendment on its own behalf and on behalf of each of its series or classes of shares (“Fund(s)”) listed on Schedule I to the Operating Agreement, made as of April 19, 2000, as amended thereafter (“Operating Agreement”). This Amendment amends the Operating Agreement. All capitalized terms used in the Amendment and not defined herein shall have the meaning ascribed to them in the Operating Agreement. Fund Company and Fund Affiliate are collectively referred to herein as (“Fund Parties”).
WHEREAS, the Company exists under the laws of the State of Delaware and under the provisions of a Certificate of Formation dated August 23, 2000, which was accepted for filing by the Secretary of State of the State of Delaware (the "Delaware Secretary of State") on August 23, 2000 and amended pursuant to the Certificate of Amendment to Certificate of Formation dated February 10, 2003, which was accepted for filing by the Delaware Secretary of State on February 12, 2003 (as amended, the "Certificate") and by an Operating Agreement dated August 23, 2000, and amended pursuant to the First Amendment to Operating Agreement dated December 30, 2006 (as amended, the "Operating Agreement"); and
Amendment to Operating Agreement The proposal to increase the purchase price under Fund 26’s unit repurchase plan will be implemented, if approved by Limited Members, through the amendment to Section 7.7 of the Operating agreement that is set forth in Exhibit B to this Consent Statement. The amendment will provide that the repurchase price for units purchased under the unit repurchase plan will be increased to 95% of the estimated net asset value per unit.
AMENDMENT TO OPERATING AGREEMENT (PROPOSAL #4) We are proposing to amend and restate Section 6.5 of the Operating Agreement of AEI Income and Growth Fund 26 to read in its entirety as follows:
THIS FIRST AMENDMENT TO OPERATING AGREEMENT (this “Amendment”) of Flanigan Family Stock Holdings, LLC, a Florida limited liability company (the “Company”), is hereby entered into by and among the undersigned members (the “Members”) of the Company, and James G. Flanigan as manager (the “Manager”) as of August 31, 2020.
Exhibit Name 10.1 Amendment to Operating Agreement (dated as of November 12, 2020), filed as an exhibit to the Form 8-K filed by the Issuer on November 16, 2020 and incorporated by reference herein.
Amendment to Operating Agreement of Nature’s Sunshine Hong Kong Limited In accordance with the Operating Agreement among Nature’s Sunshine Products, Inc., Fosun Industrial Co., Limited and Nature’s Sunshine Hong Kong Limited Dated August 25th, 2014 (“Hong Kong Operating Agreement”), the terms of the Hong Kong Operating Agreement shall be amended to delete Reserved Matters to read as follows:
Amendment to Operating Agreement. Contemporaneously with the transactions consummated under this Agreement, Company and Subscriber will cause the Operating Agreement to be amended in order to recognize such transactions.
AMENDMENT TO OPERATING AGREEMENT OF Robert Ventures Holdings LLC I.DATE. This Amendment to an LLC Operating Agreement (“Amendment”) has been agreed to on May 1st 2023, by its Member and Manager. II.ORIGINAL AGREEMENT. This Amendment hereby resolves, confirms, and amends the operating agreement dated May 3rd, 2033, for the entity known as Robert Ventures Holdings LLC that was originally formed in the State of Delaware (“Agreement”). III.AMENDMENTS. The Member(s) hereby amend the Agreement as follows: The Manager will be replaced by Robert Ventures LLC as the date above. IV.OTHER SECTIONS. All other terms and conditions of the Agreement shall remain in full force and effect.
Amendment to Operating Agreement. The Operating Agreement shall have been amended to increase the number of managers to [5] of which [3] shall be designated by Byzen and [2] shall be designated by So.
An Amendment to Operating Agreement is a formal document used to make changes to the existing operating agreement of a limited liability company (LLC). This document is utilized when the members of an LLC need to modify, add, or remove certain aspects of their original agreement. Amendments are essential for ensuring that the operating agreement reflects the current operations, responsibilities, and membership of the LLC.
An Amendment to Operating Agreement should be used whenever significant changes occur within an LLC that affect the original terms of its operating agreement. These changes could include:
Using an amendment ensures that the operating agreement remains accurate and legally binding, providing clarity and avoiding potential disputes among members.
Writing an Amendment to Operating Agreement involves several key steps:
Title the Document: Clearly label the document as an “Amendment to Operating Agreement.”
Reference the Original Agreement: Include the date of the original operating agreement and any previous amendments.
Introduction: State the purpose of the amendment and identify the LLC and its members.
Specify the Amendments: Clearly outline the specific changes, additions, or deletions to the existing operating agreement.
Example: Section 3.1 of the Operating Agreement is hereby amended to read as follows:
Effective Date: Specify when the amendments will take effect.
Execution: Include a section for all members to sign and date the amendment, indicating their agreement and acceptance of the changes.
Record Keeping: Distribute copies to all members and include it in the LLC’s official records.
Amendments to Operating Agreements are typically associated with:
LLC Operating Agreements: The primary contract in LLCs that governs the management, structure, and operation of the company.
Joint Venture Agreements in LLCs: If changes are needed in joint venture partnerships structured as LLCs, amendments may be used.
Membership Agreements: When changes affect individual members’ roles or stakes in the LLC, amendments are key to reflecting these updates.
Amendments are integral to ensuring these contracts accurately express the current terms and conditions agreed upon by the members of the LLC.
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An amendment clause outlines the procedures and requirements for making changes or modifications to an existing contract. It specifies how amendments can be proposed, agreed upon, and documented by the parties involved to ensure that all modifications are legally binding and enforceable.
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