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.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Gold Torrent Canada Inc)
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.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Texas Mineral Resources Corp.)
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
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Solitario Exploration & Royalty Corp.)
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.
Appears in 1 contract
Samples: Limited Liability Company Agreement
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.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Contango ORE, Inc.)
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.
Appears in 1 contract
Samples: Limited Liability Company Agreement