Common use of Additional Members and Interests Clause in Contracts

Additional Members and Interests. In order for a Person to be admitted as a Member of the Company with respect to an Additional Interest: (i) such Person shall have delivered to the Company a written undertaking to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member determines to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s admission as a Member; and (ii) the Managing Member or an authorized Officer shall amend Schedule A without the further vote, act or consent of any other Person to reflect such new Person as a Member. Upon the amendment of Schedule A, such Person shall be deemed to have been admitted as a Member and shall be listed as such on the books and records of the Company and thereupon shall be issued his or its Membership Interest. If an Additional Interest will be issued to an existing Member, the Managing Member or an authorized Officer shall amend Schedule A without the further vote, act or consent or any other Person to reflect the issuance of such Additional Interest and, upon the amendment of such Schedule A, such Member shall be issued his or its Additional Interest.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Exopack Holding Corp), Limited Liability Company Agreement (Exopack Advanced Coatings, LLC)

AutoNDA by SimpleDocs

Additional Members and Interests. In order for a Person to be admitted as a Member of the Company with respect to an Additional Interest: (i) Interest or otherwise, such Person shall have delivered to the Company a written undertaking in the form of Exhibit A attached hereto to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member Board determines to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s 's admission as a Member; and (ii) thereafter, the Managing Member or an authorized Officer Secretary of the Company shall amend Schedule SCHEDULE A without the further vote, act or consent of any other Person to reflect such new Person as a Member and shall provide a copy of such amended SCHEDULE A to each Member. Upon the amendment of Schedule SCHEDULE A, such Person shall be deemed to have been admitted as a Member and shall be deemed listed as such on the books and records of the Company and thereupon shall be issued his or its Membership Interest, including any Units that correspond to and are part of such Membership Interest. If an Additional Interest will be is issued to an existing MemberMember in accordance with the terms hereof, the Managing Member or an authorized Officer Secretary of the Company shall amend Schedule SCHEDULE A without the further vote, act or consent or of any other Person to reflect the issuance of such Additional Interest Interest, shall provide a copy of such amended SCHEDULE A to each Member, and, upon the amendment of such Schedule SCHEDULE A, such Member shall be issued his or its Additional Interest.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (American Commercial Lines LLC), Limited Liability Company Agreement (Vertex Aerospace Inc)

Additional Members and Interests. In order for a Person to be admitted as a Member of the Company with respect to an Additional Interest: (i) such Person shall have delivered to the Company a written undertaking to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member Board determines to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s admission as a Member; and (ii) the Managing Member or an authorized Officer Board shall amend Schedule A without the further vote, act or consent of any other Person to reflect such new Person as a Member. Upon the amendment of Schedule A, such Person shall be deemed to have been admitted as a Member and shall be listed as such on the books and records of the Company and thereupon shall be issued his or its Membership Interest. , If an Additional Interest will be is issued to an existing Member, the Managing Member Board or an authorized Officer the Secretary of the Company shall amend Schedule A without the further vote, act or consent or any other Person to reflect the issuance of such Additional Interest and, upon the amendment of such Schedule A, such Member shall be issued his or its Additional Interest, including any Economic Interest that corresponds to and is part of such Additional Interest.

Appears in 1 contract

Samples: Limited Liability Company Agreement (PRETIUM CANADA Co)

Additional Members and Interests. In order for a Person to -------------------------------- be admitted as a Member of the Company with respect to an Additional Interest: (i) such Person shall have delivered to the Company a written undertaking to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member determines to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s 's admission as a Member; and (ii) the Managing Member or an authorized Officer the Secretary of the Company shall amend Schedule A without ---------- the further vote, act or consent of any other Person to reflect such new Person as a Member. Upon the amendment of Schedule A, such Person shall be deemed to ---------- have been admitted as a Member and shall be listed as such on the books and records of the Company and thereupon shall be issued his or its Membership Interest, including any Economic Interest that corresponds to and is part of such Membership Interest. If an Additional Interest will be is issued to an existing Member, the Managing Member or an authorized Officer the Secretary of the Company shall amend Schedule -------- A without the further vote, act or consent or any other Person to reflect the - issuance of such Additional Interest and, upon the amendment of such Schedule A, ---------- such Member shall be issued his or its Additional Interest, including any Economic Interest that corresponds to and is part of such Additional Interest.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Petersen Holdings LLC)

Additional Members and Interests. In order for a Person to be admitted as a Member of the Company with respect to an Additional Interest: (i) such Person shall have delivered to the Company a written undertaking to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member Board determines to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s admission as a Member; and (ii) the Managing Member Board or an authorized Officer shall amend Schedule A without the further vote, act or consent of any other Person to reflect such new Person as a Member. Upon the amendment of Schedule A, such Person shall be deemed to have been admitted as a Member and shall be listed as such on the books and records of the Company and thereupon shall be issued his or its Membership Interest. If an Additional Interest will be issued to an existing Member, the Managing Member Board or an authorized Officer shall amend Schedule A without the further vote, act or consent or any other Person to reflect the issuance of such Additional Interest and, upon the amendment of such Schedule A, such Member shall be issued his or its Additional Interest.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Exopack Advanced Coatings, LLC)

Additional Members and Interests. In order for a Person to be admitted as a Member of the Company with respect to an Additional InterestInterest or otherwise: (i) such Person shall have delivered to the Company a written undertaking in the form of EXHIBIT A attached hereto to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member Board determines to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s 's admission as a Member; and (ii) thereafter, the Managing Member or an authorized Officer Secretary of the Company shall amend Schedule SCHEDULE A without the further vote, act or consent of any other Person to reflect such new Person as a Member and shall make available for review a copy of such amended SCHEDULE A to each Member. Upon the amendment delivery of Schedule Asuch documents and instruments, such Person shall be deemed to have been admitted as a Member and shall be deemed listed as such on the books and records of the Company and thereupon shall be issued his or its such Person's Membership Interest, including any Units that correspond to and are part of such Membership Interest. If an Additional Interest will be is issued to an existing Member, Member in accordance with the Managing Member or an authorized Officer terms hereof; the Secretary of the Company shall amend Schedule SCHEDULE A without the further vote, act or consent or of any other Person to reflect the issuance of such Additional Interest Interest, shall make available for review a copy of such amended SCHEDULE A to each Member, and, upon the amendment of such Schedule SCHEDULE A, such Member shall be issued his or its such Member's Additional Interest.

Appears in 1 contract

Samples: Limited Liability Company Agreement (K-Sea Transportation Partners Lp)

Additional Members and Interests. In order for a Person to be -------------------------------- admitted as a Member of the Company with respect to an Additional Interest: (i) such Person shall have delivered to the Company a written undertaking to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member determines to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s 's admission as a Member; and (ii) the Managing Member or an authorized Officer the Secretary of the Company shall amend Schedule A without ---------- the further vote, act or consent of any other Person to reflect such new Person as a Member. Upon the amendment of Schedule A, such ---------- Person shall be deemed to have been admitted as a Member and shall be listed as such on the books and records of the Company and thereupon shall be issued his or its Membership Interest, including any Economic Interest that corresponds to and is part of such Membership Interest. If an Additional Interest will be is issued to an existing Member, the Managing Member or an authorized Officer the Secretary of the Company shall amend Schedule A without the further vote, act or consent or any other Person to ---------- reflect the the-issuance of such Additional Interest and, upon the amendment of such Schedule A, such Member shall be issued his or its Additional Interest, ---------- including any Economic Interest that corresponds to and is part of such Additional Interest.

Appears in 1 contract

Samples: Petersen Holdings LLC

AutoNDA by SimpleDocs

Additional Members and Interests. In order for a Person to be admitted as a Member of the Company with respect to an Additional Interest: (i) such Person shall have delivered to the Company a written undertaking to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member determines Class A Members determine to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s 's admission as a Member; and (ii) the Managing Member or an authorized Officer Members shall amend Schedule A without the further vote, act or consent of any other Person to reflect such new Person as a Member. Upon the amendment of Schedule A, such Person shall be deemed to have been admitted as a Member and shall be listed as such on the books and records of the Company and thereupon shall be issued his or its Membership Interest, including any Economic Interest that corresponds to and is part of such Membership Interest. If an Additional Interest will be is issued to an existing Member, the Managing Member or an authorized Officer Members shall amend Schedule A without the further vote, act or consent or of any other Person to reflect the issuance of such Additional Interest and, upon the amendment of such Schedule A, such Member shall be issued his or its Additional Interest, including any Economic Interest that corresponds to and is part of such Additional Interest.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Hanson Luise V)

Additional Members and Interests. In order for a Person to be admitted as a Member of the Company with respect to an Additional Interest: (i) Interest or otherwise, such Person shall have delivered to the Company a written undertaking in the form of Exhibit B attached hereto to -19- 24 be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member Board determines to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s 's admission as a Member; and (ii) thereafter, the Managing Member or an authorized Officer Secretary of the Company shall amend Schedule A without the further vote, act or consent of any other Person to reflect such new Person as a Member and shall provide a copy of such amended Schedule A to each Member. Upon the amendment of Schedule A, such Person shall be deemed to have been admitted as a Member and shall be deemed listed as such on the books and records of the Company and thereupon shall be issued his or its Membership Interest, including any Units that correspond to and are part of such Membership Interest. If an Additional Interest will be is issued to an existing MemberMember in accordance with the terms hereof, the Managing Member or an authorized Officer Secretary of the Company shall amend Schedule A without the further vote, act or consent or of any other Person to reflect the issuance of such Additional Interest Interest, shall provide a copy of such amended Schedule A to each Member, and, upon the amendment of such Schedule A, such Member shall be issued his or its Additional Interest.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Acl Capital Corp)

Additional Members and Interests. In order for a Person to be admitted as a Member of the Company with respect to an Additional InterestInterest or otherwise: (i) such Person shall have delivered to the Company a written undertaking in the form of Exhibit A attached hereto to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member Board determines to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s 's admission as a Member; and (ii) thereafter, the Managing Member or an authorized Officer Secretary of the Company shall amend Schedule A without the further vote, act or consent of any other Person to reflect such new Person as a Member and shall make available for review a copy of such amended Schedule A to each Member. Upon the amendment delivery of Schedule Asuch documents and instruments, such Person shall be deemed to have been admitted as a Member and shall be deemed listed as such on the books and records of the Company and thereupon shall be issued his or its such Person's Membership Interest, including any Units that correspond to and are part of such Membership Interest. If an Additional Interest will be is issued to an existing Member, Member in accordance with the Managing Member or an authorized Officer terms hereof; the Secretary of the Company shall amend Schedule A without the further vote, act or consent or of any other Person to reflect the issuance of such Additional Interest Interest, shall make available for review a copy of such amended Schedule A to each Member, and, upon the amendment of such Schedule A, such Member shall be issued his or its such Member's Additional Interest.

Appears in 1 contract

Samples: Limited Liability Company Agreement (K-Sea Tranportation Partners Lp)

Additional Members and Interests. In order for a Person to be admitted as a Member of the Company with respect to an Additional Interest: (i) such Person shall have delivered to the Company a written undertaking to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member determines Members determine to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person’s admission as a Member; and (ii) the Managing Member or an authorized Officer Members shall amend Schedule A without the further vote, act or consent of any other Person to reflect such new Person as a Member. Upon the amendment of Schedule A, such Person shall be deemed to have been admitted as a Member and shall be listed as such on the books and records of the Company and thereupon shall be issued his or its Membership Interest, including any Economic Interest that corresponds to and is part of such Membership Interest. If an Additional Interest will be is issued to an existing Member, the Managing Member or an authorized Officer Members shall amend Schedule A without the further vote, act or consent or of any other Person to reflect the issuance of such Additional Interest and, upon the amendment of such Schedule A, such Member shall be issued his or its Additional Interest, including any Economic Interest that corresponds to and is part of such Additional Interest.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Time is Money Join Law Insider Premium to draft better contracts faster.