Common use of Admission as a Member Clause in Contracts

Admission as a Member. No Person shall be admitted to the Company as a Member unless either: (a) the Interest or part thereof acquired by such Person has been registered under the Securities Act, and any applicable state securities Laws; or (b) the Company has received a favorable opinion of the transferor’s legal counsel or of other legal counsel acceptable to the non-transferring Members to the effect that the Transfer of the Interest to such Person is exempt from registration under those Laws. The non-transferring Members, however, may waive the requirements of this Section 8.7.

Admission as a Member. No Person shall will be admitted to the Company as a Member unless either: either (a) the Interest or part thereof acquired by such Person has been registered under the Securities Act, and any applicable state securities Laws; Laws or (b) the Company has received a favorable opinion of the transferor’s legal counsel or of other legal counsel acceptable to the non-transferring Members to the effect that the Transfer of the Interest to such Person is exempt from registration under those Laws. The non-transferring Members, however, may waive the requirements of this Section 8.7.

Admission as a Member. No Person shall be admitted to the Company as a Member unless either: either (a) the Interest or part thereof acquired by such Person has been registered under the Securities Act, and any applicable state securities Laws; Laws or (b) the Company has received a favorable opinion of the transferor’s 's legal counsel or of other legal counsel acceptable to the non-transferring Members to the effect that the Transfer of the Interest to such Person is exempt from registration under those Laws. The non-transferring Members, however, may waive the requirements of this Section 8.7.. 8.8

Admission as a Member. No Person shall be admitted to the Company as a Member unless either: either (a) the Interest or part thereof acquired by such Person has been registered under the Securities Act, and any applicable state securities Laws; Laws or (b) the Company has received a favorable opinion of the transferor’s 's legal counsel or of other legal counsel acceptable to the non-transferring Members to the effect that the Transfer of the Interest to such Person is exempt from registration under those Laws. The non-transferring Members, however, may waive the requirements of this Section 8.78.9.

Admission as a Member. No Person shall be admitted to the Company as a Member unless either: either (a) the Interest or part thereof acquired by such Person has been registered under the Securities Act, and any applicable state securities Laws; Laws or (b) the Company has received a favorable opinion of the transferor’s legal counsel or of other legal counsel acceptable to the non-transferring Members to the effect that the Transfer of the Interest to such Person is exempt from registration under those Laws. The non-transferring Members, however, may waive the requirements of this Section 8.7.

Admission as a Member. No Person shall be admitted to the Company as a Member unless either: either (a) the Interest or part thereof acquired by such Person has been registered under the Securities Act, and any applicable state securities Laws; Laws or (b) the Company has received a favorable opinion favorableopinion of the transferor’s legal counsel or of other legal counsel acceptable to the non-non- transferring Members to the effect that the Transfer of the Interest to such Person is exempt from registration under those Laws. The non-transferring Members, however, may waive the requirements of this Section 8.7.