Admitting New Members Clause Samples
The 'Admitting New Members' clause defines the process and requirements for adding new individuals or entities as members to an organization, such as a limited liability company or partnership. Typically, this clause outlines the approval procedure—often requiring a majority or unanimous vote of existing members—and may specify any documentation or qualifications needed for admission. Its core function is to ensure that the addition of new members is controlled and agreed upon by current stakeholders, thereby maintaining stability and protecting the interests of the existing group.
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Admitting New Members. New Members may be admitted to the SFVCOG upon a super majority vote of the Board, as defined in section 8, subsection c of this agreement, and execution of this agreement, provided that such a proposed new Member is a city whose jurisdiction, or part thereof, lies within or immediately adjacent to any jurisdiction that is a Member of SFVCOG, or that is deemed by the Board of Directors to share common interests with the SFVCOG.
Admitting New Members. Subject to the requirements of Article Ten, Additional Members may be admitted when the Company issues new Interests or a Member transfers its Interest. Except as set forth herein, the Manager may withhold approval of the admission of any Person for any or no reason. The Manager will not permit any person to become a member until such person has agreed to be bound by all the provisions of this Operating Agreement as amended as of the date of the proposed admission, and the terms of the Offering Circular, and has delivered to the Company a completed Subscription Agreement along with payment in the amount of such investment. The Manager may adopt and revise rules, conventions, and procedures as the Manager determines appropriate regarding the admission of Additional Members to reflect the Interests at the end of the calendar year in accordance with the Members’ intentions.
Admitting New Members. Prospective new members may be admitted by a decision of the Great Southern VROC and shall be required to contribute to Great Southern VROC a sum determined by the Great Southern VROC that is described as “the entry sum” and in addition a sum equal to the current year’s contribution schedule or such other sum agreed to by the Great Southern VROC.
Admitting New Members. Subject to the requirements of Article Fifteen, Additional Members may be admitted when the Company issues new Membership Interests or a Member transfers its Membership Interest. Upon compliance with Article Fifteen, a person will be admitted as an Additional Member, listed as such on the Company’s books, and issued the Membership Interest. The Managers shall adjust the Capital Accounts of the Members as necessary under Article Six. The Managers may adopt and revise rules, conventions, and procedures as the Managers determine appropriate regarding the admission of Additional Members to reflect the Membership Interests at the end of the calendar year in accordance with the Members’ intentions.
Admitting New Members. New Members may be admitted to the WSCCOG upon an affirmative vote of a majority of the total voting membership of the Governing Board provided that such a proposed new Member is a city or other public agency whose jurisdiction, or part thereof, lies within or immediately adjacent to any city which is a member of WSCCOG. Admission shall be subject to such terms and conditions as the Governing Board may deem appropriate.
Admitting New Members.
(1) Prospective new members may be admitted by a decision of the WE-ROC Council and shall be required to contribute to WE-ROC a sum determined by the WE-ROC Council that is described as ”the entry sum” and in addition a sum equal to the current year’s contribution schedule as described in clause 6.1 or a discretionary sum agreed to by the WE-ROC Council.
1. Part 3 Division 4 Section 3.65 (2) of the Local Government Act 1995 describes the process of amending the Establishment Agreement.
Admitting New Members. 65 of the Local Government Act 1995 is to apply. Prospective new members may be admitted by a decision of the NEWROC Council and shall be required to contribute to NEWROC a sum determined by the NEWROC Council that is described as ”the entry sum” and in addition a sum equal to the current year’s contribution schedule or such other sum agreed to by the NEWROC Council.