Corn Delivery Requirement. To be admitted as a Class A Member, whether acquiring Class A Capital Units in the Reorganization or through a Disposition from a Member, a Person must either consent to the assignment of the Person’s Corn Delivery Agreement from the Cooperative to the Company or sign a new Corn Delivery Agreement in a form approved by the Board of Managers from time to time, in addition to fulfilling all other membership criteria set forth in Section 3.3.
Appears in 3 contracts
Samples: Operating Agreement, Operating Agreement (Lake Area Corn Processors LLC), Operating Agreement (Lake Area Corn Processors LLC)
Corn Delivery Requirement. To be admitted as a Class A Member, whether acquiring purchasing Class A Capital Units in the Reorganization Offering or through a Disposition from a Member, a Person must either consent to the assignment of the Person’s Corn Delivery Agreement from the Cooperative to the Company or sign a new Corn Delivery Agreement in a form approved by the Board of Managers from time to time, in addition to fulfilling all other membership criteria set forth in Section 3.3.
Appears in 3 contracts
Samples: Operating Agreement (Great Plains Ethanol LLC), Operating Agreement (Great Plains Ethanol LLC), Operating Agreement (Great Plains Ethanol LLC)
Corn Delivery Requirement. To be admitted as a Class A Member, whether acquiring Class A Capital Units in the Reorganization or Reorganization, through a Disposition from a Member, or otherwise, a Person must either consent to the assignment and amendment of the Person’s Corn Delivery Member Agreement from the Cooperative to the Company or sign a new Corn Delivery Agreement in a form approved by the Board of Managers from time to time, in addition to fulfilling all other membership criteria set forth in Section 3.3. The corn delivery requirements pursuant to the Member’s Member Agreement or Corn Delivery Agreement will be reevaluated annually by the Board of Managers.
Appears in 1 contract
