Additional Members and Interests Sample Clauses

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Additional Members and Interests. In order for a Person to be admitted as a Member of the Company with respect to an Additional Interest: (i) such Person shall have delivered to the Company a written undertaking to be bound by the terms and conditions of this Agreement and shall have delivered such documents and instruments as the Managing Member determines to be necessary or appropriate in connection with the issuance of such Additional Interest to such Person or to effect such Person's admission as a Member; and (ii) the Managing Member or the Secretary of the Company shall amend Schedule A without the further vote, act or consent of any other Person to reflect such new Person as a Member. Upon the amendment of Schedule A, such Person shall be deemed to have been admitted as a Member and shall be listed as such on the books and records of the Company and thereupon shall be issued his or its Membership Interest, including any Economic Interest that corresponds to and is part of such Membership Interest. If an Additional Interest is issued to an existing Member, the Managing Member or the Secretary of the Company shall amend Schedule A without the further vote, act or consent of any other Person to reflect the issuance of such Additional Interest and, upon the amendment of such Schedule A, such Member shall be issued his or its Additional Interest, including any Economic Interest that corresponds to and is part of such Additional Interest.
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Additional Members and Interests. Additional Members may be admitted to the Company and additional Interests may be issued only upon the consent of all Members. Whenever any additional Member is admitted to the Company, or any additional Interest is issued, in accordance with this Section 7.4, the Managers shall cause Schedules A and B to this Agreement to be amended to reflect any adjustment in the Percentage Interests or Series Percentage Interests of the Members in accordance with this Section 7.4.
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Additional Members and Interests. Additional Members may be admitted to the Company and additional Interests may be issued with the approval of the Manager. Whenever any additional Member is admitted to the Company, or any additional Interest is issued, in accordance with this Section 8.5, the Percentage Interest of each Member outstanding immediately prior to such admission or issuance will be decreased proportionately, as appropriate, to maintain the aggregate Percentage Interest of the Members at exactly one hundred percent (100.00%). The Manager will cause Schedule 1 to be revised to reflect any adjustment in the Percentage Interest of the Members in accordance with this Section 8.5, but such revision shall not, by itself constitute an amendment of this Agreement for purposes of Section 10.10.
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Additional Members and Interests. Additional Members may be admitted to the Company and additional Interests may be issued only upon the consent of a Super-Majority in Interest. Whenever any additional Member is admitted to the Company, or any additional Interest is issued, in accordance with this Section 8.5, the Percentage Interest of each Member outstanding immediately prior to such admission or issuance will be decreased proportionately, as appropriate. The Board will cause Schedule A to be amended to reflect any adjustment in the Interests of the Members in accordance with this Section 8.5.
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Additional Members and Interests. The Company shall not, except as provided in Section 4.1(b)(iii), be expanded to include additional Members, or to provide for the issuance of additional Company Interests, unless the existing Members by Supermajority Vote consent to the same. In the event that the Members by Supermajority Vote elect to take in new or additional Members or issue additional Company Interests upon such terms and conditions as they may find advisable, the Profits Interest of each new or additional Member shall be taken from the existing Members on a pro rata basis unless otherwise agreed to by all such Members, in such amount and in such fashion as may be agreed upon by the parties.
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Additional Members and Interests. With the unanimous written consent of all Members, the Board of Managers may issue additional Interests and admit Persons as Members on such terms and conditions as the Board of Managers deems appropriate without the necessity of a capital contribution. As a condition to the issuance of such additional Interests and the Person's admission as a Member, such Person shall execute and deliver to the Company and the other Members a counterpart signature page to this Agreement. Promptly following the issuance of additional Interests, the Board of Managers shall amend the books and records of the Company and this Agreement to reflect the Interests.
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Additional Members and Interests 
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Related to Additional Members and Interests

  • Additional Members One or more additional members may be admitted to the Company with the consent of the Member. Prior to the admission of any such additional members to the Company, the Member shall amend this Agreement to make such changes as the Member shall determine to reflect the fact that the Company shall have such additional members. Each additional member shall execute and deliver a supplement or counterpart to this Agreement, as necessary.

  • Admission of Additional Members One or more additional members of the Company may be admitted to the Company with the written consent of the Member.

  • Initial Members The initial members of the LLC, their initial capital contributions, and their percentage interest in the LLC are: Initial Percentage Interest Capital Members in LLC Contribution

  • Additional Capital Contributions and Issuances of Additional Partnership Interests Except as provided in this Section 4.2 or in Section 4.3, the Partners shall have no right or obligation to make any additional Capital Contributions or loans to the Partnership. The General Partner may contribute additional capital to the Partnership, from time to time, and receive additional Partnership Interests in respect thereof, in the manner contemplated in this Section 4.2.

  • Additional Partnership Interests If the Partnership issues Partnership Interests in accordance with Section 4.2 or 4.3, the distribution priorities set forth in Section 5.1 shall be amended, as necessary, to reflect the distribution priority of such Partnership Interests and corresponding amendments shall be made to the provisions of Exhibit B.