Admission as Member. A transferee of Units of a Member, other than a Related-Party Transferee, may be admitted as a Substituted Member only with the consent of the Company. A Related-Party Transferee shall be admitted as a Substituted Member without the consent of the Company, subject to compliance with Section 7.3(b). The failure or refusal by the Company to permit a transferee of Units to become a Substituted Member shall not give rise to any cause of action against the Company or the Manager. A transferee who has been admitted as a Substituted Member in accordance with this Article VII shall have all the rights and powers and be subject to all the restrictions and liabilities of a Member under this Agreement.
Admission as Member. The Assignor and the General Partner hereby consent to the admission of the Assignee as a member of the Assigned Entity. Immediately following the admission of Assignee as a member of the Assigned Entity, the Assignor and the General Partner shall and do hereby withdraw from the Assigned Entity as a member of the Assigned Entity, and shall thereupon cease to be a member of the Assigned Entity, and shall thereupon cease to have or exercise any right or power as a member of the Assigned Entity.
Admission as Member. A Subsequent Closing Member shall be deemed admitted to the Fund as a Member upon acceptance by the Managing Members of such Subsequent Closing Member’s Capital Commitment (or increase in such Subsequent Closing Member’s Capital Commitment) and its agreement to be bound by the terms of this Agreement. The Managing Members shall revise the Schedule to reflect the admission of each Subsequent Closing Member (or any increase in a Subsequent Closing Member’s Capital Commitment).
Admission as Member. The New Member shall be admitted as a Member and shall acquire all the rights of the Continuing Member in respect of the Transferred Interest, whether under the Operating Agreement or otherwise, upon sale, assignment and transfer, and payment of the Purchase Price, pursuant to Section 1.1. The New Member shall also execute a counterpart to the Operating Agreement and the Company and the Control Manager shall update the books and records of the Company to reflect the transfer of the Transferred Interest and the New Member’s admission as a Member.
Admission as Member. A Person shall be deemed admitted to the Company as an Additional Member at the time the conditions specified in Section 4.2(a) are satisfied. The Manager shall revise the Schedule of Members to reflect the admission of such Additional Member. The Manager may hold funds in a subscription account, with all interest on funds credited to the Company, until such time as the Manager accepts a subscription and schedules a Subsequent Closing. The Manager may schedule Subsequent Closings at such times as, in its sole and absolute discretion, it determines the funds held are needed.
Admission as Member. A Person shall be deemed admitted to the Fund as an Additional Member at the time the conditions specified in Section 4.2(a) are satisfied. The Manager shall revise the Schedule of Members to reflect the admission of such Additional Member. The Manager may hold funds in a subscription account, with all interest on funds credited to the Fund, until such time as the Manager accepts a subscription and schedules a Subsequent Closing. The Manager may schedule Subsequent Closings at such times as, in its sole and absolute discretion, it determines the funds held are needed. Equity Program Operating Agreement 12
Admission as Member. From and after the date hereof, the Assignee shall be admitted as an additional member of the Company with respect to the Transferred Interests conveyed, transferred and assigned to the Assignee pursuant to Section 1 of this Assignment, and the Assignor hereby expressly consents to the Assignee’s admission to the Company as an additional member thereof.
Admission as Member. Each Member must meet the following requirements.
Admission as Member. A Transferee shall be admitted to the Company as a substitute Member only on satisfaction of the following terms and conditions:
Admission as Member. The Sellers or their ------------------- Permitted Transferees shall have been admitted as members of Purchaser in accordance with the Purchaser's Operating Agreement, and the LLC Shares shall have been issued to them and reflected on Schedule A thereto, as described in this Agreement.
