Common use of Membership Interests; Additional Members Clause in Contracts

Membership Interests; Additional Members. Cheniere Holdings is the current Class A Member and Terminals is the current Class B Member, holding the respective Membership Interests as reflected on Exhibit A hereto. Additional Person(s) may be admitted to the Company as Members upon the unanimous approval of the existing Members, without any approval of the Board, on such terms and conditions as the Members determine at the time of such admission. The terms of admission or issuance of limited liability company interests in the Company must specify the Sharing Ratios applicable thereto and may provide for the creation of different classes or groups of Members or limited liability company interests in the Company having different rights, powers and duties. The Members may reflect the creation of any new class or group in an amendment to this Agreement, executed in accordance with Section 13.05, indicating the different rights, powers and duties thereof. Any such amendment shall be approved and executed by the Members. Any such admission is effective only after such new Member has executed and delivered to the Members and the Company an instrument containing the notice address of the new Member and such new Member’s ratification of this Agreement and agreement to be bound by it. Upon the admission of a new Member, Exhibit A will be updated to reflect such admission.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Cheniere Energy Partners LP Holdings, LLC), Limited Liability Company Agreement (Cheniere Energy Partners LP Holdings, LLC), Limited Liability Company Agreement (Cheniere Energy Partners LP Holdings, LLC)

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Membership Interests; Additional Members. Cheniere Holdings is the current initial Class A Member and Terminals is the current initial Class B Member, holding the respective Membership Interests as reflected on Exhibit A hereto. Additional Person(s) may be admitted to the Company as Members upon the unanimous approval of the existing Members, without any approval of the Board, on such terms and conditions as the Members determine at the time of such admission. The terms of admission or issuance of limited liability company interests in the Company must specify the Sharing Ratios applicable thereto and may provide for the creation of different classes or groups of Members or limited liability company interests in the Company having different rights, powers and duties. The Members may reflect the creation of any new class or group in an amendment to this Agreement, executed in accordance with Section 13.05, indicating the different rights, powers and duties thereof. Any such amendment shall be approved and executed by the Members. Any such admission is effective only after such new Member has executed and delivered to the Members and the Company an instrument containing the notice address of the new Member and such new Member’s ratification of this Agreement and agreement to be bound by it. Upon the admission of a new Member, Exhibit A will be updated to reflect such admission.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Cheniere Energy Partners LP Holdings, LLC), Limited Liability Company Agreement (Cheniere Energy Partners LP Holdings, LLC)

Membership Interests; Additional Members. Cheniere Holdings Holding Co. is the current Class A sole initial Member and Terminals is of the current Class B MemberCompany, holding the respective Membership Interests as reflected on in Exhibit A heretohereto and was admitted to the Company upon its execution of a counterpart signature page to the limited liability company agreement of the Company. Additional Person(s) may be admitted to the Company as Members upon the unanimous approval of the existing Members, without any approval of the Board, on such terms and conditions as the Members determine at the time of such admission. The terms of admission or issuance of limited liability company interests in the Company must specify the Sharing Ratios applicable thereto and may provide for the creation of different classes or groups of Members or limited liability company interests in the Company having different rights, powers and duties, including rights, powers and duties that are senior in preference to existing Members. The Members may reflect the creation of any new class or group in an amendment to this Agreement, executed in accordance with Section 13.05, Agreement indicating the different rights, powers and duties thereof. Any duties, and such an amendment shall be approved and executed by the Members. Any such admission is effective only after such new Member has executed and delivered to the Members and the Company an instrument containing the notice address of the new Member and such new Member’s ratification of this Agreement and agreement to be bound by it. Upon the admission of a new Member, Exhibit A will be updated to reflect such admission.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (El Paso Pipeline Partners, L.P.), Limited Liability Company Agreement (El Paso Pipeline Partners, L.P.)

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Membership Interests; Additional Members. Cheniere AIM Midstream Holdings is the current Class A sole initial Member and Terminals is of the current Class B MemberCompany, holding the respective Membership Interests as reflected on in Exhibit A heretohereto and was admitted to the Company upon its execution of a counterpart signature page to the limited liability company agreement of the Company. Additional Person(s) may be admitted to the Company as Members a Member(s) in exchange for such consideration and upon the unanimous approval of the existing Members, without any approval of the Board, on such other terms and conditions conditions, in each case as determined by the Members determine at the time of such admissionBoard in good faith. The terms of admission or issuance of limited liability company interests in the Company must specify the Sharing Ratios applicable thereto and may provide for the creation of different classes or groups of Members or limited liability company interests in the Company having different rights, powers and duties, including rights, powers and duties that are senior in preference to existing Members. The Members may reflect the creation of any new class or group in an amendment to this Agreement, executed in accordance with Section 13.05, Agreement indicating the different rights, powers and duties thereof. Any duties, and such an amendment shall be approved and executed by the Members. Any such admission is effective only after such new Member has executed and delivered to the Members and the Company an instrument containing the notice address of the new Member and such new Member’s ratification of this Agreement and agreement to be bound by it. Upon the admission of a new Member, Exhibit A will be updated to reflect such admission.

Appears in 1 contract

Samples: Limited Liability Company Agreement (American Midstream Partners, LP)

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