Common use of Substitution of Members Clause in Contracts

Substitution of Members. Except as provided in Section 7.2, a transferee of a Membership Interest shall not have the right to become a substitute Member until each of the following is true: (i) the requirements of Section 7.1.1 are satisfied; (ii) such Person executes an instrument satisfactory to the Members approving the transfer and to the Manager accepting and adopting the terms, provisions, and conditions of this Agreement, including without limitation Section 10.15 herein, with respect to the acquired Membership Interest; and (iii) such Person pays any reasonable expenses in connection with such Person's admission as a new Member. The admission of a substitute Member shall not result in the release of the Member who assigned the Membership Interest from any liability that such Member may have to the Company.

Substitution of Members. Except as provided in Section 7.2, a transferee of a Membership Interest shall not have the right to become a substitute Member until each of the following is true: (i) the requirements of Section 7.1.1 are satisfied; (ii) such Person executes an instrument satisfactory to the Members approving the transfer and to the Manager accepting and adopting the terms, provisions, and conditions of this Agreement, including without limitation Section 10.15 herein, with respect to the acquired Membership Interest; and (iii) such Person pays any reasonable out-of-pocket expenses of the Company in connection with such Person's admission as a new Member. The admission of a substitute Member shall not result in the release of the Member who assigned the Membership Interest from any liability that such Member may have to the Company.

Substitution of Members. Except as provided in Section 7.2, a A transferee of a Membership Interest shall not will have the right to become a substitute Member until each of the following is true: only if (i) the requirements of Section 7.1.1 Sections 7.1 and 7.2 relating to the unanimous consent of the non-transferring Members and securities and tax requirements of this Agreement are satisfied; met, (ii) such Person executes an instrument satisfactory to the Members approving the transfer and to the Manager accepting and adopting the terms, provisions, terms and conditions provisions of this Agreement, including without limitation Section 10.15 herein, with respect to the acquired Membership Interest; and (iii) such Person pays any reasonable expenses in connection with such Person's his, her or its admission as a new Member. The admission of a substitute Member shall will not result in the release of the Member who assigned the Membership Interest from any liability that such Member may have to the CompanyCompany with respect to such assigned the Membership Interest, unless otherwise decided by the transferor and the transferee with the approval of the non-transferring Members.

Substitution of Members. Except as provided in Section 7.2, a A transferee of a Membership Interest shall not have the right to become a substitute Member until each of the following is true: only if (i) the requirements of Section 7.1.1 Sections 7.1 and 7.2 relating to unanimous consent of the Managers and a Majority in Interest of the Members, securities and tax requirements hereof are satisfied; met, (ii) such Person executes an instrument satisfactory to the Members approving the transfer and to the Manager Managers accepting and adopting the terms, provisions, terms and conditions provisions of this Agreement, including without limitation Section 10.15 herein, with respect to the acquired Membership Interest; and (iii) such Person person pays any reasonable expenses in connection with such Person's Member’s admission as a new Member. The admission of a substitute Member shall not result in the release of the Member who assigned the Membership Interest from any liability that such Member may have to the Company.

Substitution of Members. Except as provided in Section 7.2, a transferee of a Membership Interest shall not have the right to become a substitute Member until each of the following is true: (i) the requirements of Section 7.1.1 are satisfied; (ii) such Person executes an instrument satisfactory to the Members approving the transfer and to the Manager accepting and adopting the terms, provisions, and conditions of this Agreement, including without limitation Section 10.15 herein, with respect to the acquired Membership Interest; and (iii) such Person pays any reasonable out-of-pocket expenses of the Company in connection with such Person's ’s admission as a new Member. The admission of a substitute Member shall not result in the release of the Member who assigned the Membership Interest from any liability that such Member may have to the Company.

Substitution of Members. Except as provided Notwithstanding any provision to the contrary in Section 7.2this Agreement, a transferee of a Membership Interest shall not have the right to become a substitute Member until each of the following is true: (ia) the requirements of Section 7.1.1 are satisfied; (iib) such Person executes an instrument satisfactory to the Class B Members approving the transfer and to the Manager accepting and adopting the terms, provisions, and conditions of this Agreement, including without limitation Section 10.15 herein, with respect to the acquired Membership Interest; and (iiic) such Person pays any reasonable out- of-pocket expenses of the Company in connection with such Person's ’s admission as a new Member. The admission of a substitute Member shall not result in the release of the Member who assigned the Membership Interest from any liability that such Member may have to the Company.

Substitution of Members. Except as provided in Section 7.2, a A transferee of a Membership Interest shall not ----------------------- have the right to become a substitute Member until each of the following is true: only if (i) the requirements of Section 7.1.1 Sections 7.1 and 7.2 relating to unanimous consent of Members, securities and tax requirements hereof are satisfied; met, (ii) such Person executes an instrument satisfactory to the Members approving the transfer and to the Manager accepting and adopting the terms, provisions, terms and conditions provisions of this Agreement, including without limitation Section 10.15 herein, with respect to the acquired Membership Interest; and (iii) such Person pays any reasonable expenses in connection with such Person's his admission as a new Member. The admission of a substitute Member shall not result in the release of the Member who assigned the Membership Interest from any liability that such Member may have to the Company.