Common use of Effect of Admission Clause in Contracts

Effect of Admission. The transferee of Units transferred pursuant to this Article 10 that is admitted to the Fund as a substituted Member shall succeed to the rights and liabilities of the transferor Member with respect to such interest and, after the effective date of such admission, the Capital Contribution of the transferor with respect to the applicable class of Units being transferred shall become the Capital Contribution of the transferee, to the extent of the Units transferred. If a transferee is not admitted to the Fund as a substituted Member, (i) such transferee shall have no right to participate with the Members in any votes taken or consents granted or withheld by the Members hereunder, and (ii) the transferor shall remain liable to the Fund for all contributions and other amounts payable with respect to the transferred interest to the same extent as if no Transfer had occurred.

Effect of Admission. The transferee of Units transferred pursuant to this Article 10 that is admitted to the Fund Company as a substituted Member shall succeed to the rights and liabilities of the transferor Member with respect to such interest and, after the effective date of such admission, the Capital Contribution of the transferor with respect to the applicable class of Units Unit being transferred shall become the Capital Contribution of the transferee, to the extent of the Units transferred. If a transferee is not admitted to the Fund Company as a substituted Member, (i) such transferee shall have no right to participate with the Members in any votes taken or consents granted or withheld by the Members hereunder, and (ii) the transferor shall remain liable to the Fund Company for all contributions and other amounts payable with respect to the transferred interest to the same extent as if no Transfer had occurred.

Effect of Admission. The transferee of Units Shares transferred pursuant to this Article 10 that is admitted to the Fund as a substituted Member shall succeed to the rights and liabilities of the transferor Member with respect to such interest and, after the effective date of such admission, the Capital Contribution of the transferor with respect to the applicable class of Units Share being transferred shall become the Capital Contribution of the transferee, to the extent of the Units Shares transferred. If a transferee is not admitted to the Fund as a substituted Member, (i) such transferee shall have no right to participate with the Members in any votes taken or consents granted or withheld by the Members hereunder, and (ii) the transferor shall remain liable to the Fund for all contributions and other amounts payable with respect to the transferred interest to the same extent as if no Transfer had occurred.

Effect of Admission. The transferee of Units Shares transferred pursuant to this Article 10 that is admitted to the Fund Company as a substituted Member shall succeed to the rights and liabilities of the transferor Member with respect to such interest and, after the effective date of such admission, the Capital Contribution of the transferor with respect to the applicable class of Units Share being transferred shall become the Capital Contribution of the transferee, to the extent of the Units Shares transferred. If a transferee is not admitted to the Fund Company as a substituted Member, (i) such transferee shall have no right to participate with the Members in any votes taken or consents granted or withheld by the Members hereunder, and (ii) the transferor shall remain liable to the Fund Company for all contributions and other amounts payable with respect to the transferred interest to the same extent as if no Transfer had occurred.

Effect of Admission. The transferee of Common Units transferred pursuant to this Article 10 9 that is admitted to the Fund Company as a substituted Member shall succeed to the rights and liabilities of the transferor Member with respect to such interest and, after the effective date of such admission, the Capital Contribution Commitment and Undrawn Capital Commitment of the transferor with respect to the applicable class of Units being transferred shall become the Capital Contribution Commitment and Undrawn Capital Commitment, respectively, of the transferee, to the extent of the Units transferred. If a transferee is not admitted to the Fund Company as a substituted Member, (ia) such transferee shall have no right to participate with the Members in any votes taken or consents granted or withheld by the Members hereunder, and (iib) the transferor shall remain liable to the Fund Company for all contributions and other amounts payable with respect to the transferred interest to the same extent as if no Transfer had occurred.