Additional Members/Directors Clause Samples

Additional Members/Directors. In connection with the admission of additional Members (including new Members or Substituted Members) in accordance with Section 7.5, the Board by Required Consent may designate such additional Members as “Controlling Members” for the purposes of this Agreement. In connection with any such designation, Schedule 2.1 shall be amended to reflect the name of any additional Controlling Member and the additional Director appointed by such Controlling Member. The admission of additional Members under Section 7.5 does not by itself create a requirement or obligation by the Members or Board to create or appoint additional Directors, grant “Controlling Member” status to any Member or dilute the voting rights of the existing Directors under Section 4.1 above.
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Related to Additional Members/Directors

  • 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.

  • 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

  • Initial Member (a) The name, address and initial Membership Interest of the initial Member is as follows: BR C▇▇▇▇▇▇ DFW Portfolio JV, LLC 100% c/o Bluerock Real Estate, L.L.C. 7▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ (b) The Member was admitted to the Company as a member of the Company upon its execution of a counterpart signature page to this Agreement.

  • Professional Memberships Each employee is eligible for reimbursement for membership fees or dues paid for the maintenance of a license required to perform employee’s job and for dues paid for membership in one additional job related professional association.

  • Substituted Members Subject to the provisions of Article X hereof, in connection with the Permitted Transfer of a Unit hereunder, the Permitted Transferee shall become a Substituted Member on the effective date of such Transfer, which effective date shall not be earlier than the date of compliance with the conditions to such Transfer, and such admission shall be shown on the books and records of the Company, including the Schedule of Members.