Admission of Substitute Member. (a) Subject to the other provisions of this Article IX, an assignee of the Member Interest of a Non-Managing Member (which shall be understood to include any purchaser, transferee, donee or other recipient of any disposition of such Member Interest) shall be deemed admitted as a Member of the Company only with the consent of the Corporate Manager (which shall not be unreasonably withheld) and upon the satisfactory completion of the following:
Appears in 6 contracts
Samples: Operating Agreement, Exchange Agreement, Operating Agreement
Admission of Substitute Member. (a) Subject Other than pursuant to Section 10.7 hereto, subject to the other provisions of this Article IXX, an assignee of the Member Interest Units of a Non-Managing Member (which shall be understood to include any purchaser, transferee, donee or other recipient of any disposition of such Member InterestUnits) shall be deemed admitted as a Member of the Company only with the consent of the Corporate Manager (Managing Member, which shall not consent may be unreasonably withheld) given or withheld by the Managing Member in its sole and absolute discretion, and upon the satisfactory completion of the following:
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Arbor Realty Trust Inc)
Admission of Substitute Member. (a) Subject to the other provisions of this Article IXX, an assignee of the Member Interest Units of a Non-Managing Member (which shall be understood to include any purchaser, transferee, donee or other recipient of any disposition of such Member InterestUnits) shall be deemed admitted as a Member of the Company only with the consent of the Corporate Manager (Managing Member, which shall not consent may be unreasonably withheld) given or withheld by the Managing Member in its sole and absolute discretion, and upon the satisfactory completion of the following:
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Ellington Financial LLC)
Admission of Substitute Member. (a) Subject to the other provisions of this Article ARTICLE IX, an assignee of the Member Interest Units of a Non-any Member other than the Managing Member (which shall be understood to include any purchaser, transferee, donee donee, or other recipient of any disposition of such Member InterestUnits) shall be deemed admitted as a Member of the Company only with the consent of the Corporate Manager (which shall not be unreasonably withheld) Managing Member and upon the satisfactory completion of the following:
Appears in 1 contract
Samples: Operating Agreement (StartEngine Real Estate REIT 1 LLC)
Admission of Substitute Member. (a) Subject to the other provisions of this Article IXX, an assignee of the Member Interest Units of a Non-Managing Member (which shall be understood to include any purchaser, transferee, donee or other recipient of any disposition of such Member InterestUnits) shall be deemed admitted as a Member of the Company only with the consent of the Corporate Manager (Board, which shall not consent may be unreasonably withheld) given or withheld by the Board in its sole and absolute discretion, and upon the satisfactory completion of the following:
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Ellington Financial Inc.)