Limited Liability Company Interests

Limited Liability Company Interests. Shall mean the entire limited liability company membership interest at any time owned by any Pledgor in any limited liability company.

Limited Liability Company Interests. Shall mean the entire limited liability company membership interest at any time owned by any Pledgor in any limited liability company; provided that the term "Limited Liability Company Interest" shall not include any limited liability company membership interest in (x) any limited liability company that is not a Subsidiary of any Pledgor and (y) any other limited liability company set forth on Annex E (or any limited liability company acquired after the date hereof that the Pledgors indentify... to the Collateral Agent in writing and to which the Collateral Agent does not reasonably object) to the extent (and only for so long as) the limited liability company agreement or operating agreement for such other limited liability company or applicable law prohibits the assignment of, or granting of a security interest in, the limited liability company membership interests of such limited liability company and such prohibitions are not rendered invalid by Section 9-406 or Section 9-408 of the UCC, it being understood and agreed, however, any such excluded other limited liability company membership interest shall otherwise be subject to the security interests created by this Agreement (and shall become a "Limited Liability Company Interest" for all purposes of this Agreement) upon the receipt by such Pledgor of any necessary approvals or waivers permitting the assignment thereof or the granting of a security interest therein. View More