Common use of Additional Membership Units Clause in Contracts

Additional Membership Units. In the event additional Membership Units shall be issued to an initial Member, or to any other Person and such Person shall be admitted as a Member in accordance with Article X, the Chairman (as defined in Section 6.03(a) shall amend Schedule 2.01 accordingly. The Capital Contribution to be made by such Person except as provided for in 4.03(iii) shall be in the form and amount determined by Unanimous Vote and the amount of such Capital Contribution shall be credited to such Person's Capital Account.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Cayenta Inc), Limited Liability Company Agreement (Titan Corp), Limited Liability Company Agreement (Cayenta Inc)

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Additional Membership Units. In the event additional Membership Units shall be issued to an initial Member, or to any other Person and such Person shall be admitted as a Member in accordance with Article X, the Chairman (as defined in Section 6.03(a) President shall amend Schedule 2.01 accordingly. The Capital Contribution to be made by such Person except as provided for in 4.03(iii) shall be in the form and amount determined by Unanimous a Majority Vote and the amount of such Capital Contribution shall be credited to such Person's Capital Account.

Appears in 1 contract

Samples: Operating Agreement (Mineral Energy Co)

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