Common use of Admission to Membership Clause in Contracts

Admission to Membership. From the date of the formation of the Company, any Person or Entity acceptable to the Members by their unanimous vote may become a Member in this Company either by the issuance by the Company of Membership Interests for such consideration as the Members by their unanimous votes shall determine, subject to the terms and conditions of this Operating Agreement. At any time when the Company shall only have one Member, the transfer of all of the Membership Interests of such sole Member to any Person or Entity shall cause such Person or Entity to become a Member of this Company.

Appears in 1 contract

Samples: Operating Agreement (Horsburgh & Scott Co)

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Admission to Membership. From the date of the formation of the Company, any Person or Entity acceptable to the Members by their unanimous vote may become a Member in this Company either by the issuance by the Company of a Membership Interests for such consideration as the Members by their unanimous votes vote shall determine, or as a transferee of a Member's Membership Interest or any portion thereof, subject to the terms and conditions of this Operating Agreement. At any time when the Company shall only have one Member, the transfer of all of the Membership Interests of such sole Member to any Person or Entity shall cause such Person or Entity to become a Member of this Company.

Appears in 1 contract

Samples: Operating Agreement

Admission to Membership. From the date of the formation of the Company, any Person or Entity acceptable to the Members Directors by their unanimous vote may become a Member in this Company either whether by the issuance by the Company of Membership Interests for such consideration as the Members Directors by their unanimous votes vote shall determine, or as a transferee of a Member's Membership Interest or any portion thereof, subject to the terms and conditions of this Operating Agreement. At Notwithstanding any time when the Company other provision of this Operating Agreement, no Person shall only have one Member, the transfer of all of the Membership Interests of such sole Member to any Person or Entity shall cause such Person or Entity to become a Member of the Company without satisfying the provisions of this Companysection 8.02 or Article VII.

Appears in 1 contract

Samples: Master Joint Venture Agreement (Thermolase Corp)

Admission to Membership. From the date of the formation of the Company, any Person or Entity acceptable to the Members by their unanimous vote may become a Member in this Company either by the issuance by the Company of Membership Interests for such consideration as the Members by their unanimous votes shall determine, or as a transferee of a Member's Membership Interest or any portion thereof, subject to the terms and conditions of this Operating Agreement. At any time when the Company shall only have one Member, the transfer of all of the Membership Interests of such sole Member to any Person or Entity shall cause such Person or Entity to become a Member of this Company.

Appears in 1 contract

Samples: Operating Agreement (Browsesafe Com Inc)

Admission to Membership. From the date of the formation of the Company, any Person or Entity acceptable to the Members by their unanimous vote may become a Member in this Company either by the issuance by the Company of Membership Interests for such consideration as the Members by their unanimous votes shall determine, subject to the terms and conditions of this Operating Agreement. At any time when the Company shall only have one Member, the transfer of all of the Membership Interests of such sole Member to any Person or Entity shall cause such Person or Entity to become a Member of this Company.

Appears in 1 contract

Samples: Operating Agreement (Horsburgh & Scott Co)

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Admission to Membership. From the date of the formation of the Company, any Person or Entity acceptable to the Members by their unanimous vote may become a Member in this Company either by the issuance by the Company of Membership Interests Interest for such consideration as the Members by their unanimous votes shall determine, or as a transferee of a Member’s Membership Interest or any portion thereof, subject to the terms and conditions of this Operating Agreement. At any time when the Company shall only have one Member, the transfer of all of the Membership Interests of such sole Member to any Person or Entity shall cause such Person or Entity to become a Member of this Company.11.02

Appears in 1 contract

Samples: Operating Agreement Operating Agreement

Admission to Membership. From the date of the formation of the Company, any Person or Entity acceptable to the Members by their unanimous vote may become a Member in this Company either by the issuance by the Company of Membership Interests Interest for such consideration as the Members by their unanimous votes shall determine, or as a transferee of a Member’s Membership Interest or any portion thereof, subject to the terms and conditions of this Operating Agreement. At any time when the Company shall only have one Member, the transfer of all of the Membership Interests of such sole Member to any Person or Entity shall cause such Person or Entity to become a Member of this Company.

Appears in 1 contract

Samples: Operating Agreement (SILC Holdings LLC)

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