Issuance of Additional Membership Interests. Any Person approved by the Manager may become a Member in the Company by the issuance by the Company of Membership Interests for such consideration, as the Manager shall unanimously determine in its sole discretion. The Manager shall determine at the time of such issuance of Membership Interests the Ownership Percentage of such newly admitted Member (with the Ownership Percentages of the then existing Members being decreased respectively). Any new Member shall sign and deliver such documents to the Manager to agree to and join all terms and conditions of this Operating Agreement
Issuance of Additional Membership Interests. Except as otherwise provided for herein, any Person approved by all of the Members may become a Member in the Company by the issuance by the Company of Membership Interests for such consideration as all of the Members shall determine. No new Members shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. The Managers may, upon the approval of all the existing Members, at the time a Member is admitted, close the Company books (as though the Company’s tax year had ended) or make pro rata allocations of loss, income and expense deductions to a new Member for that portion of the Company’s tax year in which a Member was admitted in accordance with the provisions of Section 706(d) of the Code and the Treasury Regulations promulgated thereunder.
Issuance of Additional Membership Interests. Except for (a) the issuance of any Excluded Membership Interests or (b) the issuance of Membership Interests made pursuant to and in accordance with Section 5.1(c), Article VII, or as otherwise permitted herein, the Company shall not issue any new Membership Interests, or any securities convertible into Membership Interests or other equity interests of the Company, to any Third Party or to the Members other than in accordance with their respective Percentage Interests.
Issuance of Additional Membership Interests. Additional membership interests in the Company may be issued from time to time for such consideration, or as a dividend, as the Members may determine. Upon receipt by the Company of payment of the consideration for the issuance of membership interests, such membership interests shall be fully paid and nonassessable.
Issuance of Additional Membership Interests. Subject to the prior approval of Rxxxx, the Manager shall have full authority to cause the Company to issue additional Membership Interests to new Members, so long as after the issuance of the additional Membership Interests the Percentage Interest of every Member is adjusted to be proportionate to the Capital Contributions made by each Member to the Company. Any new Member admitted to the Company upon the issuance of additional Membership Interests shall become a party to this Agreement and agree to be bound by all the terms and conditions hereof by executing such documents and instruments as the Company has reasonably requested, and the Manager shall promptly amend Schedule I hereto (without the need for any action by the Members) to reflect the admission of such Member.
Issuance of Additional Membership Interests. (a) Subject to the approval of Members representing a Majority Interest, the Company may issue additional Membership Interests to any Person at any time for such consideration and on such other terms and conditions as the Members representing a Majority Interest deem appropriate.
Issuance of Additional Membership Interests. The LLC may issue Membership Interests and admit additional Members only upon the express, written consent of the Member. The Member shall determine the necessary Capital Contributions, if any, by such additional Members. Any additional Member must execute and deliver in writing a statement of acceptance and adoption of the provisions of this Agreement.
Issuance of Additional Membership Interests. Any losses or deductions arising in connection with the issuance or vesting of any Membership Interest in the Company issued in connection with the performance of services and after March 10, 2013, shall be specially allocated in full to Delek Logistics Services.
Issuance of Additional Membership Interests. 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).
Issuance of Additional Membership Interests. Apart from the membership interests issued to each of Shaar and Hestian/VB pursuant to this MOU, no further membership interests in Newco, options in respect of unissued membership interests or other securities may be issued by Newco without the prior written consent of each Party.
