Substitute or Additional Members Sample Clauses

Substitute or Additional Members. (a) Any Person wishing to be admitted to the Company as an additional Member, other than by virtue of the Transfer to such Person of a Membership Interest pursuant to Section 12.2, may be admitted only with the Unanimous Approval of the Board, which approval may be granted or withheld in the sole discretion of each Director and shall be made subject to the satisfaction of the conditions set forth in Section 12.4 and such other conditions as the Board may require. Notwithstanding the foregoing, no AB Entity may become an additional Member. (b) Upon the admission of a substitute or an additional Member, Schedule A annexed hereto shall be amended to reflect the revised Membership Units of the Members. No Person shall become a Member until such Person shall have become a party to, and adopted all of the terms and conditions of, this Agreement.

Substitute or Additional Members. (a) Any Person wishing to be admitted to the Company as an additional Member, other than by virtue of the permitted Transfer to such Person of a Membership Interest pursuant to Section 10.2 above, may be admitted only with the Unanimous Consent of the Board, which consent may be granted or withheld in the sole discretion of the Directors and may be made subject to the satisfaction of such conditions as the Board may require. (b) Upon the admission of a substitute or additional Member, Schedule I annexed hereto shall be amended to reflect the revised Membership Units of the Members. No Person shall become a Member until such Person shall have become a party to, and adopted all of the terms and conditions of, this Agreement.

Substitute or Additional Members. No substitute or additional Members shall be admitted to the Company except in