Original Members definition
Examples of Original Members in a sentence
The Original Members have agreed to amend the Agreement to provide for the inclusion of JAB as an Additional Member and to permit the Administrative Manager (a) to admit such other persons as he shall deem proper as Additional Members and (b) provide for and accept Substitute Members as he shall deem proper, all in his sole and exclusive discretion.
STATEMENT OF FACTS By execution of that certain Operating Agreement (the "Agreementm) for Federal Holdings L.L.C. (the OLLC") dated June 12, 1995, the Original Members formed the LLC.
Except as otherwise provided herein, the Managing Member shall determine whether to make any other available election pursuant to the Code; provided that the Managing Member shall consult in good faith with the Original Member Representative with respect to any material tax election with respect to the Company that could reasonably be expected to have an adverse effect on the Original Members.
In accordance with the terms of the Contribution Agreement, Inland and Cordish are hereby admitted as Members in the Company and the Original Members are hereby withdrawn from the Company.
Pursuant to the terms of an Assignment and Contribution of Membership Interest Agreement, effective as of the date hereof, each of the Original Members has assigned and contributed its entire membership interest in the Company to Cordish and has withdrawn as a Member of the Company, so that effective immediately following the admission of Inland as a Member of the Company under the terms of the Contribution Agreement and this Agreement, the sole Members of the Company shall be Inland and Cordish.