Additional Member definition

Additional Member has the meaning set forth in Section 12.02.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Additional Member means a Person admitted as a Member of the Company as a result of an issuance of Shares to such Person by the Company.

Additional Member means any Person that has been admitted to the Company as a Member pursuant to Section 7.4 by virtue of having received its Membership Interest from the Company and not from any other Member or Assignee.

Examples of Additional Member in a sentence

Upon the admission of an Additional Member, the Schedule of Members attached hereto as Schedule II shall be amended to reflect the name, address, Percentage Interest, and Capital Contribution Commitment of such Additional Member.
Subject to Section 3.2(b) and Section 7.1(c)(iii), the Board of Directors shall have the right to cause the Company to issue at any time after the Effective Date, and for such amount and form of consideration as the Board of Directors may determine, a Membership Interest to any Additional Member approved in accordance with the provisions of Section 3.2(b).
Such adjustment will be made at the time of admission of the Additional Member or Substituted Member or transfer of a distribution territory from one Member to an existing Member.

More Definitions of Additional Member

Additional Member means any Person admitted as a Member of the Company pursuant to Section 3.02 in connection with the new issuance of Units to such Person.

Additional Member means a Person who is admitted into the Company as a Member pursuant to the terms of Section 14.4.

Additional Member means a Person admitted to the Company as a Member pursuant to Section 10.2.

Additional Member means a Member admitted as a Member of the Company pursuant to Section 4.5 and who is shown as such on the books and records of the Company.

Additional Member means any individual or Entity admitted as a Member pursuant to Section 3.6.

Additional Member has the meaning set forth in Section 3.02(b).

Additional Member has the meaning given in Section 3.6(a).