Admission as a New Member. (a) Subject to the other provisions of this Article XI, a permitted transferee of a Unit and/or Preferred Unit (if such transferee is not already a Member) or a Person who exercises an employee option to acquire Units pursuant to a Company option plan shall be admitted as a Member only after the satisfactory completion of items (i) through (iii) below, and if applicable, items (iv) and (v):
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Consolidated Container Co LLC), Limited Liability Company Agreement (Dean Foods Co), Limited Liability Company Agreement (Consolidated Container Co LLC)
Admission as a New Member. (a) Subject to the other provisions of this Article XI, a permitted transferee of a Unit and/or Preferred Unit (if such transferee is not already a Member) or a Person who exercises an employee option to acquire Units pursuant to a Company option plan shall be admitted as a Member only after the satisfactory completion of items (i) through (iiiiv) below, and if applicable, items (iv) and item (v):
Appears in 1 contract
Samples: Limited Liability Company Agreement (Suiza Foods Corp)
