Common use of Admission of Additional Members and Creation of Additional Units Clause in Contracts

Admission of Additional Members and Creation of Additional Units. (a) Subject to limitations set forth in this Article IV, Article VII, Article IX and in Section 13.4 and Section 15.2, the Company may admit additional Members to the Company, issue additional Units or create and issue such additional classes or series of Units, having such designations, preferences and relative, participating or other special rights, powers and duties as the Board shall determine, from time to time. (b) Upon the issuance pursuant to and in accordance with this Agreement of any class or series of Units, the Board may, in accordance with, and subject to, Sections 4.1 and 15.2, as applicable, amend any provision of this Agreement, and authorize any Person to execute, acknowledge, deliver, file and record, if required, such documents, to the extent necessary or desirable to reflect the admission of any additional Member to the Company or the authorization and issuance of such class or series of Unit, and the related rights and preferences thereof. (c) No additional Member shall be admitted to the Company (i) in connection with newly issued Units, unless and until such prospective additional Member has executed a signature page counterpart to this Agreement and an acceptance of all of the terms and conditions of this Agreement, and such other documents or instruments, in each case, as may be required to effect the admission in the Board’s reasonable judgment or (ii) in connection with a Transfer of a Unit, unless and until all the conditions of Article IX are satisfied, and such prospective additional member executes and delivers to the Company the documentation contemplated by Section 9.6.

Admission of Additional Members and Creation of Additional Units. (a) Subject to the limitations set forth in this Article IV, Article VII, Article IX III and in Section 13.4 and Section 15.2Article VIII, the Company may admit additional Members to the Company, issue additional Units or create and issue such additional classes or series of Units, having such designations, preferences and relative, participating or other special rights, powers and duties as the Board Company shall determine, from time including: (i) the right of any such class or series of Units to time. share in the Company’s distributions; (bii) the allocation to any such class or series of Units of items of the Company’s income, gains, losses and deductions; (iii) the rights of any such class or series of Units upon dissolution or liquidation of the Company; and (iv) the right of any such class or series of Units to vote on matters relating to the Company and this Agreement. Upon the issuance of any class or series of Units pursuant to and in accordance with this Agreement of any class or series of UnitsArticle III, the Board may, in accordance with, and subject to, Sections 4.1 and 15.2, as applicableto Section 12.2, amend any provision of this Agreement, and authorize any Person to execute, acknowledge, deliver, file and record, if required, such documents, to the extent necessary or desirable to reflect the admission of any additional Member to the Company or the authorization and issuance of such class or series of UnitUnits, and the related rights and preferences thereof. (cb) No additional Member Person shall be admitted to the Company as a Member (i) in connection with newly issued Units, unless and until such prospective additional Member Person has executed a signature page counterpart to this Agreement and an acceptance of all of the terms and conditions of this Agreement, and such other documents or instruments, in each case, instruments as may be required to effect the admission in the BoardCompany’s reasonable judgment or (ii) in connection with a Transfer of a UnitUnits, unless and until all the conditions of Article IX VIII are satisfied, and such prospective additional member Person executes and delivers to the Company the documentation contemplated by Section 9.68.3.

Admission of Additional Members and Creation of Additional Units. (a) Subject to the limitations set forth in this Article IV, in Article VII, VII and Article IX and in Section 13.4 Sections 5.1(b), 13.3 and Section 15.2, the Company may admit additional Members to the Company, issue additional Units or create and issue such additional classes or series of Units, having such designations, preferences and relative, participating or other special rights, powers and duties as the Board shall determine, from time including: (i) the right of any such class or series of Units to time. share in the Company’s distributions; (bii) the allocation to any such class or series of Units of items of Net Income, Net Loss, or items of the Company’s income, gains, losses and deductions; (iii) the rights of any such class or series of Unit upon dissolution or liquidation of the Company; and (iv) the right of any such class or series of Units to vote on matters relating to the Company and this Agreement. Upon the issuance pursuant to and in accordance with this Agreement of any class or series of Units, the Board may, in accordance with, and subject to, Sections 4.1 and 15.2, as applicable, amend any provision of this Agreement, and authorize any Person to execute, acknowledge, deliver, file and record, if required, such documents, to the extent necessary or desirable to reflect the admission of any additional Member to the Company or the authorization and issuance of such class or series of Unit, and the related rights and preferences thereof. (cb) No additional Member shall be admitted to the Company (i) in connection with newly issued Units, unless and until such prospective additional Member has executed a signature page counterpart to this Agreement and an acceptance of all of the terms and conditions of this Agreement, and such other documents or instruments, in each case, instruments as may be required to effect the admission in the Board’s reasonable judgment or (ii) in connection with a Transfer of a Unit, unless and until all the conditions of Article IX are satisfied, and such prospective additional member executes and delivers to the Company the documentation contemplated by Section 9.69.7.