Common use of Additional or Substitute Members Clause in Contracts

Additional or Substitute Members. Any Entity may be admitted to the Company as an additional Member from time to time (a) with the prior written consent of all of the existing Voting Members (which consent will be in their sole and absolute discretion) and (b) in exchange for such Capital Contributions and on such terms and conditions as is agreed to by each of the Voting Members. New Members will receive distributions and allocations of profits and losses as are agreed to by all of the then existing Voting Members.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (BioAmber Inc.), Limited Liability Company Agreement (BioAmber Inc.), Limited Liability Company Agreement (BioAmber Inc.)

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