Common use of Admission Procedure Clause in Contracts

Admission Procedure. No Person shall be admitted as a Member unless such Person executes, acknowledges, and delivers to the Company such instruments as the Manager may deem necessary or advisable to effect the admission of such Person as an Additional Member, including, without limitation, the written acceptance and adoption by such Person of the provisions of this Agreement, the power of attorney in the form or containing the provision of authority provided in Exhibit A, pertinent tax information, as well as any amendments to this Agreement. The Additional Member must also pay any costs (including attorneys’ fees) necessitated by the admission of such Additional Member. The Manager shall update the books and records of the Company from time to time, to reflect the admission of any Additional Member (or shall cause the Transfer Agent to do so, as applicable). Notwithstanding the foregoing, prospective Members may not be accepted into the Company except in the sole discretion of the Manager.