Common use of Additional Membership Interests Clause in Contracts

Additional Membership Interests. The Company may, with the unanimous consent of the Members, issue additional membership interests to a new member or increase the membership interest of an existing member. To be admitted to the Company as a Member, a person who makes a capital contribution to the Company and acquires a membership interest issued by the Company must furnish to the Members an acceptance, in form satisfactory to the Members, of all the terms and conditions of this Agreement and any other documents the Members require. Member admissions become effective on the date that all of the Members determine, in the sole discretion of each, that those conditions have been satisfied. Upon the admission of a new Member pursuant to this Section 8, the Members must revise Schedule A to reflect the adjustments to the Members’ respective membership interests.

Additional Membership Interests. The Company may, with the unanimous consent of the Members, issue additional membership interests to a new member or increase the membership interest of an existing member. To be admitted to the Company as a Member, a person who makes a capital contribution to the Company and acquires a membership interest issued by the Company must furnish to the Members an acceptance, in form satisfactory to the Members, of all the terms and conditions of this Agreement and any other documents the Members require. Member admissions become effective on the date that all of the Members determine, in the sole discretion of each, that those conditions have been satisfied. Upon the admission of a new Member pursuant to this Section 810, the Members must revise Schedule A to reflect the adjustments to the Members’ respective membership interests.. •