Initial Membership Interests. Upon making the Initial Capital Contribution specified on Schedule I, each Member shall be entitled to the Membership Interest (Voting or Non-Voting, as the case may be) set forth opposite such Member’s name on Schedule I.
Initial Membership Interests. In consideration of the Initial Capital Contribution, the Initial Member is entitled to the Membership Interests set forth in Schedule I, and the Capital Account set forth in the Company’s books of account.
Initial Membership Interests. Upon making the Initial Capital Contribution specified in Section 4.1, the Initial Member shall be entitled to a Membership Interest of 100%.
Initial Membership Interests. Exopack shall be the sole Member of the Company and shall be admitted as such as of the Effective Date. No assignee (whether voluntary or involuntary) of Exopack’s Membership Interest shall become a Member of the Company without the prior written consent of Exopack.
Initial Membership Interests. The Member shall hold 100% of the Membership Interests of the Company.
Initial Membership Interests. (a) The initial membership interests in NGR Management shall consist of a single class of Membership Interests. As of the Effective Date, NGR Management is authorized to issue [ ] Membership Interests.
Initial Membership Interests. The initial membership interests in NGR Management shall consist of a single class of Membership Interests in the amountsOn the Effective Date, NGR Management issued and made available [ ] Membership Interests pursuant to the Plan. The initial Membership Interests issued to Members are set forth on the Membership InterestInterests Ownership Ledger as of the Effective Date, and each of the holders thereof will be deemed admitted as Members of NGR ManagementNew Gulf as of the Effective Date. Such Membership Ownership Ledger shall be updated in accordance with the terms of this Agreement when additional holders of Class 3 Claims and Class 6 Claims deliver an executed counterpart to this Agreement and such holders are admitted as Members of this Agreement.
Initial Membership Interests. In exchange for the initial capital contribution specified in Section 4.1(a) above, the Member was issued a 100% membership interest in the Company (the “Membership Interest”). The Membership Interest is the Member’s share of the Company’s profits, losses and distributions pursuant to this Agreement and the Act, and the Member’s right to participate in the management or affairs of the Company, including the right to vote on, consent to or otherwise participate in any decision of the Members. The Member hereby agrees that the Membership Interest is a security governed by Article 8 of the Uniform Commercial Code of the State of Illinois (and Uniform Commercial Code of any other applicable jurisdiction.)
Initial Membership Interests. As of the Effective Date, all Members and Membership Interests are in one class and all Membership Interests are Voting Interests. The initial Percentage Interests for each initial Member are set forth opposite each Member’s name below: Member Percentage Interest Intrexon 50 % Caraco 50 %
Initial Membership Interests. Exo-Tech Holding shall be the sole Member of the Company and shall be admitted as such as of the Effective Date. No assignee (whether voluntary or involuntary) of Exo-Tech Holding’s Membership Interest shall become a Member of the Company without the prior written consent of Exo-Tech Holding.
