Admission of New Member. (a) Upon a Transfer or other event resulting in more than one Member of the Company, this Agreement shall be amended to reflect such multiple Members’ respective rights, interests and obligations.
Admission of New Member. No new Member shall be admitted, either by transfer of a portion of the Member’s interest, or in any other manner, which causes the LLC to have two or more Member, until this Agreement has been amended to provide for such admission, including amendments relating to the governance of the LLC, and providing for the allocation of Profits and Losses of the LLC among the Member, and such amendment has been accepted by the existing Member and the new Member.
Admission of New Member. Notwithstanding any to the contrary contained herein, following any Transfer of an Interest by a Member pursuant to Section 8.2(a) or 8.2(b), no Person shall be admitted as a Member of the Company without complying with the following:
Admission of New Member. No new Member may be admitted to the Company without the consent of a majority-in-interest of the Members (based upon Percentage Interests). For purposes of this Section 10.6, a substitute Member shall not be considered a new Member.
Admission of New Member. If a Member Transfers its TIS Quota in accordance with Section 3.1, the transferee shall be admitted to the Company as a Member of the Company upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement. Such admission shall be deemed effective immediately prior to the Transfer and, immediately following such admission, the Notifying Member shall cease to be a Member of the Company. In addition, the Notifying Member shall be entitled to continue using the rights relating to the Marks granted to such Notifying Member prior to the Transfer for a period following the Transfer of (a) six (6) months for the purpose of marketing materials and (b) twelve (12) months for taking off the Marks from all its products. Any successor to a Member permitted by Article 3 shall, without further act, become a Member hereunder.
Admission of New Member. (a) The Company hereby admits New Member as an Additional Member and Non-Managing Member of the Company, and, in connection therewith, Exhibit A to the Operating Agreement is hereby amended to reflect the information on Exhibit A attached hereto, including the Capital Contributions of New Member for the number of Non-Managing Units reflected thereon and the Capital Contribution by the Managing Member for the number of Managing Member Units reflected thereon.
Admission of New Member. A successor member shall only be admitted upon the approval of the existing Member.
Admission of New Member. With the consent of Members holding more than a majority of the Voting Units, any Person may become an Additional Member in the Company by the issuance of a new Membership Interest, with or without corresponding Voting Units, in consideration for such Capital Contribution as the Managers shall determine appropriate; provided, that such Person executes such instruments as the Managers deem necessary or desirable to effect its admission as a Member and to confirm its agreement to be bound by all the terms and conditions of this Operating Agreement.
Admission of New Member. Pacific Ethanol California, Inc., a California corporation (“Pacific”) is hereby admitted as a member of Front Range Energy, LLC. By signing this Agreement, Pacific shall be bound by all of the terms and conditions of the Agreement as amended by this Amendment.
Admission of New Member. Effective as of the date of this Amendment, New Member is hereby admitted as a Member of the Company in substitution of, and with all of the rights and, subject to Section 7.3 of the LLC Agreement, obligations of, Exiting Member pursuant to the Agreement. New Member hereby agrees to be bound by the terms and provisions of the LLC Agreement from and after the date hereof.
