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.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (World Omni Auto Receivables LLC), Limited Liability Company Agreement (World Omni Auto Receivables LLC), Limited Liability Company Agreement (World Omni Auto Receivables LLC)
