Admission and Initial Capital Contributions. World Omni Financial Corp. has been admitted as the initial Member of the Company. The Member has contributed $1000.00, in cash, and no other property, to the Company and may contribute in the future any additional capital deemed necessary by the Managing Member, in its sole discretion, for the operation of the Company. No other Person shall be admitted as an additional member of the Company without the approval of the Member and the unanimous approvals of all members of the Board of Directors, including, without limitation, the affirmative vote of each of the Independent Directors.
Admission and Initial Capital Contributions. The Managing Member is deemed admitted as the Member of the Company upon its execution and delivery of this Agreement. The Member has contributed $1000.00, in cash, and no other property, to the Company and may contribute in the future any additional capital deemed necessary by the Managing Member, in its sole discretion, for the operation of the Company. No other Person shall be admitted as an additional member of the Company without the approval of the Member and the unanimous approvals of all members of the Board of Directors, including, without limitation, the affirmative vote of the Independent Directors.
Admission and Initial Capital Contributions. Auto Lease Finance LLC has been admitted as the initial Member of the Company, holding all of the Membership Interest, which Membership Interest has been duly authorized and validly issued to Auto Lease Finance LLC. The Member has contributed $1000.00, in cash and no other property, to the Company and may contribute (but shall have no obligation to contribute) in the future any additional capital deemed necessary by the Managing Member, in its sole discretion, for the operation of the Company. No other Person shall be admitted as an additional Member of the Company without the approval of the Member and the unanimous approvals of all members of the Board of Directors, including, without limitation, the affirmative vote of each of the Independent Directors.
Admission and Initial Capital Contributions. Auto Lease Finance LLC has been admitted as the initial Member of the Company. The Member has contributed $1000.00, in cash and no other property, to the Company and may contribute in the future any additional capital deemed necessary by the Managing Member, in its sole discretion, for the operation of the Company. No other Person shall be admitted as an additional member of the Company without the approval of the Member and the unanimous approvals of all members of the Board of Directors, including, without limitation, the affirmative vote of each of the Independent Directors.
