Additional Members; New Issuances; Classes of Members Sample Clauses

Additional Members; New Issuances; Classes of Members. Except as contemplated by Article 9, no new Members shall be admitted to the Company without the consent of the Members. Upon the written consent of the Members, the Company may issue Interests, which may represent interests in both the capital and the profits of the Company or which may be interests in only the future profits of the Company ("Profits Interests") to Persons who are not yet Members, or may increase the Interest of an existing Member, for such consideration (including but not limited to cash, other property or the provision of services) and on such terms as the Members shall unanimously determine. Upon the issuance of a new Interest, or an increase in the Percentage Interest represented by an existing Interest, the Percentage Interests of all existing Members shall be diluted ratably. Each Person that is to be issued an Interest shall deliver to the Company, as a condition of its admission to the Company as a Member, such documents of the type specified in Section 9.4. l(i) and (ii) as the Members shall request. The Members shall constitute a single class of Members for all purposes under the Act and this Agreement unless and to the extent that this Agreement specifically provides for different classes or groups of Members of the Company.
Sample 1
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Additional Members; New Issuances; Classes of Members. Except as contemplated by Article 9, no new Members shall be admitted to the Company without the consent of the Required Members. Upon the written consent of the Required Members, the Company may issue Interests, which may represent interests in both the capital and the profits of the Company or which may be interests in only the future profits of the Company ("Profits Interests") to Persons who are not yet Members, or may increase the Interest of an existing Member, for such consideration (including but not limited to cash, other property or the provision of services, whether future, current or past) and on such terms as the Required Members shall determine. Upon the issuance of a new Interest, or an increase in the Percentage Interest represented by an existing Interest, the Percentage Interests of all existing Members shall be diluted
Sample 1

Related to Additional Members; New Issuances; Classes of Members

  • 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.

  • Rights of Members to Capital No Member shall be entitled to interest on any contribution to the capital of the Fund, nor shall any Member be entitled to the return of any capital of the Fund except (i) upon the repurchase by the Fund of a part or all of such Member's Units pursuant to Section 4.4 hereof, (ii) pursuant to the provisions of Section 5.7 hereof or (iii) upon the liquidation of the Fund's assets pursuant to Section 6.2 hereof. No Member shall be liable for the return of any such amounts. No Member shall have the right to require partition of the Fund's property or to compel any sale or appraisal of the Fund's assets.

  • 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.

  • Membership Interests; Additional Members Holdings is the sole initial Member of the Company as reflected in Exhibit A attached hereto. Additional Persons may be admitted to the Company as Members, and Membership Interests may be issued, on such terms and conditions as the existing Members, voting as a single class, may determine at the time of admission. The terms of admission or issuance must specify the Sharing Ratios applicable thereto and may provide for the creation of different classes or groups of Members or Membership Interests having different (including senior) rights, powers and duties. The Members may reflect the creation of any new class or group in an amendment to this Agreement, indicating the different rights, powers and duties, and such an amendment shall be approved and executed by the Members in accordance with the terms of this Agreement. Any such admission shall be effective only after such new Member has executed and delivered to the Members and the Company an instrument containing the notice address of the new Member, the new Member’s ratification of this Agreement and agreement to be bound by it.

  • 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.

  • Classes of Units As of the date of this Agreement, the Company has three classes of Units: Common Units, Class A Units, and Class B Units.

  • Classes of Partnership Units The General Partner is hereby authorized to cause the Partnership to issue Partnership Units designated as Class T Units, Class S Units, Class D Units, Class I Units and Class E Units. Each such Class shall have the rights and obligations attributed to that Class under this Agreement.

  • Substitute Members No transferee of all or part of a Member's Membership Interest shall become a substitute Member in place of the transferor unless and until:

  • Issuances of Additional Partnership Interests (a) The Partnership may issue additional Partnership Interests (other than General Partner Interests) and Derivative Partnership Interests for any Partnership purpose at any time and from time to time to such Persons for such consideration and on such terms and conditions as the General Partner shall determine, all without the approval of any Limited Partners.

  • Members Capital Contributions (a) Initial Capital Contribution. The initial Capital Contribution described on Schedule 1 (the “Property”) was made by the previous Member.

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