Common use of Admission of Member Clause in Contracts

Admission of Member. Except as otherwise provided in Section 8.1 hereof, no Person, including a Successor in Interest, shall be admitted as a member of the Company after the date of formation of the Company without the written consent or approval of the Sole Member at the time of such admission, regardless of whether such Person has acquired an Interest in the Company from the Sole Member or from the Company as an original issuance. Upon admission, such Person shall execute a counterpart of this Agreement and shall assume in writing any and all obligations associated with its Interest.