Joinders. Each Member (other than the Initial Member) (a “Joinder Member”) has executed and delivered to the Manager a joinder in substantially the form of Exhibit A to this Agreement whereby that ▇▇▇▇▇▇▇ Member joined and became a party to this Agreement (that ▇▇▇▇▇▇▇ Member’s “Joinder”). Each Joinder is effective, and the Joinder Member in question is admitted as a Joinder Member of the Company, when both of the following conditions are satisfied: (i) that ▇▇▇▇▇▇▇ Member has made its initial Capital Contribution to the Company as described in Section 3.1.2(i), and (ii) that ▇▇▇▇▇▇▇ Member’s Joinder is countersigned by the Manager on behalf of the Company. All Capital Contributions must be made in cash in U.S. Dollars. The Company may decline to accept and countersign a prospective Joinder Member’s Joinder for any reason or no reason, including the failure of the prospective Joinder Member to tender its initial Capital Contribution to the Company within the 20-day period following the prospective Joinder Member’s delivery of its Joinder to the Company, in which case the prospective Joinder Member will not be admitted to the Company as a Member or become a party to this Agreement. Each Initial Member is hereby accepted as a Member of the Company, but each Initial Member makes the same representations and warranties set forth in the form of joinder attached hereto as Exhibit A.
Appears in 2 contracts
Sources: Operating Agreement, Operating Agreement
Joinders. Each Member (other than the Initial Member) (a “Joinder Member”) has executed and delivered to the Manager a joinder in substantially the form of Exhibit A to this Agreement whereby that ▇▇▇▇▇▇▇ Member joined and became a party to this Agreement (that ▇▇▇▇▇▇▇ Member’s “Joinder”). Each Joinder is effective, and the Joinder Member in question is admitted as a Joinder Member of the Company, when both of the following conditions are satisfied: (i) that ▇▇▇▇▇▇▇ Member has made its initial Capital Contribution to the Company as described in Section 3.1.2(i), and (ii) that ▇▇▇▇▇▇▇ Member’s Joinder ▇▇▇▇▇▇▇ is countersigned by the Manager on behalf of the Company. All Capital Contributions must be made in cash in U.S. Dollars. The Company may decline to accept and countersign a prospective Joinder Member’s Joinder for any reason or no reason, including the failure of the prospective Joinder Member to tender its initial Capital Contribution to the Company within the 20-day period (or due date, whichever comes first) following the prospective Joinder Member’s delivery of its Joinder to the Company, in which case the prospective Joinder Member will not be admitted to the Company as a Member or become a party to this Agreement. Each Initial Member is hereby accepted as a Member of the Company, but each Initial Member makes the same representations and warranties set forth in the form of joinder attached hereto as Exhibit A.
Appears in 1 contract