Admission as Substituted Member. Any person acquiring an Interest in the Company shall have no right to participate in the management of the business and affairs of the Company except upon the approval of the other Members in their reasonable discretion; provided, however, that in the event the Xxxxx Member Transfers its Interest to an entity controlled, directly or indirectly, by a Xxxxx Affiliate for purposes of providing an Investor (as defined in the Master Development Agreement) with an economic interest in the Company, such transferee shall be admitted as a Member and as Manager of the Company. It is the intent of the parties that at all times there shall be a single decision making entity for each of the Xxxxx Member and BMDC and in the event of a partial Transfer by either, the original Member shall be designated as such single decision making entity for all purposes hereof and such original Member’s successors shall be bound by such decision of its transferor for all purposes, including, without limitation, any course of action taken by such original Member pursuant to Article XI. Any Member Interest transferred pursuant to any provision of this Article VII shall thereafter remain subject to all the provisions of this Article VII and this Agreement. ARTICLE VIII
Admission as Substituted Member. As of the date hereof, and subject to the terms and conditions of this Assignment, Assignee shall become a substituted member in Demonsaw with respect to the Membership Interest in compliance with the terms of the Operating Agreement.
Admission as Substituted Member. An Assignee has the right to be admitted to the Company as a Substituted Member with the Percentage Interest and the Capital Commitment so transferred to such person, in the event that:
Admission as Substituted Member. With the exception of permitted transfers as provided in Section 7.5 of this Agreement, no purchaser, assignee or other transferee (by conveyance, operation of law or otherwise) of all or any part of an interest in the Company shall have the right to become a substituted Member in place of that person’s seller, assignor, or transferor, and thereby, become entitled to vote and participate in the management of the business and affairs of the Company, unless all of the following conditions are satisfied (all subsequent references in this agreement to “assignor” and “assignee” shall be construed to include sellers and purchasers, transferrers and transferees, donors and donees, and otherwise, as the case may be):
Admission as Substituted Member. Any and all Transfers made pursuant to this Article VIII are subject in all respects to the following: AAG HOLDING CO1, LLC Limited Liability Company Operating Agreement
Admission as Substituted Member. As of the date hereof, and subject to the terms and conditions of this Assignment, Assignee shall become a substituted member in Westport with respect to the Membership Interest in compliance with the terms of the Operating Agreement.
Admission as Substituted Member. As of the date hereof, and subject to the terms and conditions of this Assignment, Assignee shall become a substituted member in BetaZone with respect to the Membership Interest in compliance with the terms of the Operating Agreement.
Admission as Substituted Member. Any and all Transfers made pursuant to this Article VIII are subject in all respects to the following:
Admission as Substituted Member. As of the date hereof, and subject to the terms and conditions of this Assignment, Assignee shall become a substituted member in Pixaya with respect to the Membership Interest in compliance with the terms of the Operating Agreement.
Admission as Substituted Member. Immediately following delivery of the Purchase Option Units to TransMontaigne at the Closing, TransMontaigne shall be admitted as a Substituted Member in respect of the Purchase Option Units upon agreement to assume the obligations in respect thereof to make any future required Capital Contributions and execution of that certain Joinder to Company Agreement, by and between the Company and TransMontaigne, in a form agreed to between the Company and TransMontaigne, pursuant to which TransMontaigne shall become a party to the LLC Agreement and shall be deemed to be a Principal Member thereunder.
