Common use of Admission of Additional Members Clause in Contracts

Admission of Additional Members. Pursuant to Section 1706.27 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 2 contracts

Samples: Ohio Single Member Limited Liability Company Operating Agreement, Operating Agreement

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Admission of Additional Members. Pursuant to Section 1706.27 Sections 402 and 602 of the Act Law and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 18-301 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution ,as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 Sections 402 and 602 of the Act Law and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 23-18-6-1 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 29–804.01 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 17-7686 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 86.326 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 4-38-401 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 428-404 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 3968 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 of the Act and this Agreement, new Additional Members may only be admitted to the Company through issuance of a new interest in the Company with the unanimous written consent of the Members or the transfer of the a Member’s current interest under in accordance with Article 7VII. Prior to being admitted as a new Member, the prospective Member(s) mustmay be required to: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and a majority of the Membercurrent membership interests). Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its MemberMembers.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 00-000-000 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 Sections 347.079 and 347.113 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 322C.0401 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 12:1318 of the Act Law and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII 7 will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company with unanimous written consent of the Members or the transfer of the a Member’s current interest under Article 7VII. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and a majority of the Membercurrent membership interests). Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its MemberMembers.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 183.0801 of the Act Law and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII 7 will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 00-00-000 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII 7 will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 1551 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company with written consent of the Member or the transfer of the Member’s current interest under Article 7VII. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 29-3401 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company with written consent of the Member or the transfer of the Member’s current interest under Article 7VII. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 450.4501 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 7-80-701 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 86.326 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 Sections 63.130 and 63.245 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 605.0401 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 15114(A) of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 23-18-6-1 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 of the Act and this Agreement, new Additional Members may only be admitted to the Company through issuance of a new interest in the Company with the unanimous written consent of the Member or the transfer of the Member’s current interest under in accordance with Article 7VII. Prior to being admitted as a new Member, the prospective Member(s) mustmay be required to: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and a majority of the Membercurrent membership interests). Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 00-00-000 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 10-1 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 15114(A) of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 13.1-1038.1 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII 7 will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 428-404 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 of the Act and this Agreement, new Additional Members may only be admitted to the Company through issuance of a new interest in the Company with the unanimous written consent of the Member or the transfer of the Member’s current interest under in accordance with Article 7VII. Prior to being admitted as a new Member, the prospective Member(s) mustmay be required to: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and a majority of the Membercurrent membership interests). Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.. Capital Contributions

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 17-7686 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 25.15.116 of the Act Code and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 18-2035 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 18-2035 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 10.50.155 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 12:1318 of the Act Law and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII 7 will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 Sections 00-00-000 and 14-11- 505 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 29–804.01 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 322C.0401 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

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Admission of Additional Members. Pursuant to Section 1706.27 21-130 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 10A-5A-4.01 of the Act Law and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 13.1-1038.1 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII 7 will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 8841 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 00-00-000 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII 7 will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 18-301 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 42:2C-31 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 00-000-000 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 10-32.1-27 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII 7 will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 Sections 57D-3-01 and 57D-3-03 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 7-16-36 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 Sections 347.079 and 347.113 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 53-19-36 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company with written consent of the Member or the transfer of the Member’s current interest under Article 7VII. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 25.15.116 of the Act Code and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 42:2C-31 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 Sections 275.175 and 275.275 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 Sections 63.130 and 63.245 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 Sections 275.175 and 275.275 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 4051 of the Act Statutes and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 Sections 35-8-307, 35-8-703, and 35-8-707 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 4051 of the Act Statutes and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 00-00-000 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 489.401 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 1551 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company with written consent of the Member or the transfer of the Member’s current interest under Article 7VII. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 4-38-401 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, contribution (as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 10A-5A-4.01 of the Act Law and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 7-80-701 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

Admission of Additional Members. Pursuant to Section 1706.27 34-255 of the Act and this Agreement, new Members may only be admitted to the Company through issuance of a new interest in the Company or the transfer of the Member’s current interest under Article 7. Prior to being admitted as a new Member, the prospective Member(s) must: (i) provide evidence to the Company that the admission of the prospective Member(s) will not violate any securities law, alter the tax status of the Company, or cause the termination of the Company; (ii) provide proof that the prospective Member(s) can make the initial contribution, as agreed upon between the prospective Member(s) and the Member. Any attempt to admit a new Member that deviates from this Section or Article VII will be null, void, and unenforceable against the Company or its Member.

Appears in 1 contract

Samples: Operating Agreement

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