Common use of Admission of Interest Holders as Members Clause in Contracts

Admission of Interest Holders as Members. Subject to the other provisions of this Section 5.1, a transferee of Units may be admitted to the Company as a substituted Member only upon satisfaction of the following conditions: (a) The Units with respect to which the transferee is being admitted were acquired by means of a Permitted Transfer; (b) The transferee becomes a party to this Agreement as a Member and executes such documents and instruments as the Managers deem necessary or appropriate to confirm such transferee as a Member and such transferee's agreement to be bound by the terms and conditions of this Agreement; (c) The transferee pays or reimburses the Company for all reasonable legal, filing, and publication costs that the Company incurs in connection with the admission of the transferee as a Member with respect to the transferred Units; (d) If the transferee is not a human being, the transferee provides the Company with evidence satisfactory to counsel for the Company of the authority of the transferee to become a Member and to be bound by the terms and conditions of this Agreement; and (e) The consent of Members holding Units representing at least 65% of the outstanding Membership Interests is given to the admission of the transferee as a new Member; provided, that all Members hereby consent to the admission of any affiliate of a Member who acquires Units in accordance with Section 5.1.2(c) hereof.

Admission of Interest Holders as Members. Subject to the other provisions of this Section 5.1, a transferee of Units may be admitted to the Company as a substituted Member only upon satisfaction of the following conditions: (a) The Units with respect to which the transferee is being admitted were acquired by means of a Permitted Transfer; (b) The transferee becomes a party to this Agreement as a Member and executes such documents and instruments as the Managers Members deem necessary or appropriate to confirm such transferee as a Member and such transferee's agreement to be bound by the terms and conditions of this Agreement; (c) The transferee pays or reimburses the Company for all reasonable legal, filing, and publication costs that the Company incurs in connection with the admission of the transferee as a Member with respect to the transferred Units;; and (d) If the transferee is not a human being, the transferee provides the Company with evidence satisfactory to counsel for the Company of the authority of the transferee to become a Member and to be bound by the terms and conditions of this Agreement; and (e) The consent of Members holding Units representing at least 65% of the outstanding Membership Interests is given to the admission of the transferee as a new Member; provided, that all Members hereby consent to the admission of any affiliate of a Member who acquires Units in accordance with Section 5.1.2(c) hereof.

Admission of Interest Holders as Members. Subject to the other provisions of this Section 5.1, a transferee of Units a Membership Interest may be admitted to the Company as a substituted Member only upon satisfaction of the following conditions: (a) The Units Membership Interest with respect to which the transferee is being admitted were was acquired by means of a Permitted TransferTransfer as set forth in Section 5.1.2; (b) The transferee becomes a party to this Agreement as a Member and executes such documents and instruments as the Managers deem Manager deems necessary or appropriate to confirm such transferee as a Member and such transferee's ’s agreement to be bound by the terms and conditions of this Agreement; (c) The transferee pays or reimburses the Company for all reasonable legal, filing, and publication costs that the Company incurs in connection with the admission of the transferee as a Member with respect to the transferred UnitsMembership Interests; (d) If the transferee is not a sui juris human being, the transferee provides the Company with evidence satisfactory to counsel for the Company of the authority of the transferee to become a Member and to be bound by the terms and conditions of this Agreement; and (e) The consent of Members holding Units representing at least 65% of the outstanding Membership Interests is given Manager consents to the admission of the transferee as a new Member; provided, that all Members hereby consent to the admission of any affiliate of a Member who acquires Units in accordance with Section 5.1.2(c) hereof.

Admission of Interest Holders as Members. Subject to the other provisions of this Section 5.1, a transferee of Units may be admitted to the Company as a substituted Member only upon satisfaction of the following conditions: (a) The Units with respect to which the transferee is being admitted were acquired by means of a Permitted Transfer; (b) The transferee becomes a party to this Agreement as a Member and executes such documents and instruments as the Managers deem necessary or appropriate to confirm such transferee as a Member and such transferee's agreement to be bound by the terms and conditions of this Agreement; (c) The transferee pays or reimburses the Company for all reasonable legal, filing, and publication costs that the Company incurs in connection with the admission of the transferee as a Member with respect to the transferred Units; (d) If the transferee is not a human being, the transferee provides the Company with evidence satisfactory to counsel for the Company of the authority of the transferee to become a Member and to be bound by the terms and conditions of this Agreement; and (e) The consent of Members holding Units representing at least 6575% of the outstanding Membership Interests is given to the admission of the transferee as a new Member; provided, that all Members hereby consent to the admission of any affiliate of a Member who acquires Units in accordance with Section 5.1.2(c) hereof.

Admission of Interest Holders as Members. Subject to the other provisions of this Section 5.1, a transferee of Units a Membership Interest may be admitted to the Company as a substituted Member only upon satisfaction of the following conditions: (a) The Units Membership Interest with respect to which the transferee is being admitted were was acquired by means of a Permitted TransferTransfer as set forth in Section 5.1.2; (b) The transferee becomes a party to this Agreement as a Member and executes such documents and instruments as the Managers deem Manager deems necessary or appropriate to confirm such transferee as a Member and such transferee's agreement to be bound by the terms and conditions of this Agreement; (c) The transferee pays or reimburses the Company for all reasonable legal, filing, and publication costs that the Company incurs in connection with the admission of the transferee as a Member with respect to the transferred UnitsMembership Interests; (d) If the transferee is not a sui juris human being, the transferee provides the Company with evidence satisfactory to counsel for the Company of the authority of the transferee to become a Member and to be bound by the terms and conditions of this Agreement; and (e) The consent of Members holding Units representing at least 65% A Majority in Interest of the outstanding Membership Interests is given Members consent to the admission of the transferee as a new Member; provided, that all Members hereby consent to the admission of any affiliate of a Member who acquires Units in accordance with Section 5.1.2(c) hereof.

Admission of Interest Holders as Members. Subject to the other provisions of this Section 5.1, a transferee of Units a Membership Interest may be admitted to the Company as a substituted Member only upon satisfaction of the following conditions: (a) The Units Membership Interest with respect to which the transferee is being admitted were was acquired by means of a Permitted TransferTransfer as set forth in Section 5.1.2; (b) The transferee becomes a party to this Agreement as a Member and executes such documents and instruments as the Managers deem Manager deems necessary or appropriate to confirm such transferee as a Member and such transferee's ’s agreement to be bound by the terms and conditions of this Agreement; (c) The transferee pays or reimburses the Company for all reasonable legal, filing, and publication costs that the Company incurs in connection with the admission of the transferee as a Member with respect to the transferred UnitsMembership Interests; (d) If the transferee is not a sui juris human being, the transferee provides the Company with evidence satisfactory to counsel for the Company of the authority of the transferee to become a Member and to be bound by the terms and conditions of this Agreement; and (e) The consent of Members holding Units representing at least 65% A Majority in Interest of the outstanding Membership Interests is given Members consent to the admission of the transferee as a new Member; provided, that all Members hereby consent to the admission of any affiliate of a Member who acquires Units in accordance with Section 5.1.2(c) hereof.