Additional and Substitute Members. The Company may admit additional or substitute Members with the sole approval of the Manager. 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.
Appears in 8 contracts
Samples: Limited Liability Company Operating Agreement (LK Secured Lending Reg a Fund, LLC), Limited Liability Company Operating Agreement (LK Secured Lending Reg a Fund, LLC), Limited Liability Company Operating Agreement (LK Secured Lending Reg a Fund, LLC)
Additional and Substitute Members. The Company may admit additional or substitute Members with the sole approval of the ManagerManagers. Except as set forth herein, the Manager Managers 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.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Circle of Wealth Fund III LLC)
