Admission of Members after Closing Sample Clauses

Admission of Members after Closing. Except as provided in Article VIII, following the Closing, no additional Members may be admitted to the Company and no existing Members may be issued additional Interests.‌
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Admission of Members after Closing. Except as provided in Article VIII, following the first Closing and a “cooling off” period of 2 weeks, additional Interests may be issued for up to 6 months after the first Closing, if and only if the additional Interests are those Interests that were authorized (not include those reserved for the Manager) but not sold upon the first Closing. LIMITED LIABILITY COMPANY AGREEMENT
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Admission of Members after Closing. Except as provided in Article VIII, following the Closing, no additional Interests will be issued.
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Related to Admission of Members after Closing

  • Admission of Members Other persons may be admitted as Members from time to time pursuant to the provisions of this Agreement.

  • Admission of New Members The Company may admit new Members (or transferees of any interests of existing Members) into the Company by the unanimous vote or consent of the Members. As a condition to the admission of a new Member, such Member shall execute and acknowledge such instruments, in form and substance satisfactory to the Company, as the Company may deem necessary or desirable to effectuate such admission and to confirm the agreement of such Member to be bound by all of the terms, covenants and conditions of this Agreement, as the same may have been amended. Such new Member shall pay all reasonable expenses in connection with such admission, including without limitation, reasonable attorneys’ fees and the cost of the preparation, filing or publication of any amendment to this Agreement or the Articles of Organization, which the Company may deem necessary or desirable in connection with such admission. No new Member shall be entitled to any retroactive allocation of income, losses, or expense deductions of the Company. The Company may make pro rata allocations of income, losses or expense deductions to a new Member for that portion of the tax year in which the Member was admitted in accordance with Section 706(d) of the Internal Revenue Code and regulations thereunder. In no event shall a new Member be admitted to the Company if such admission would be in violation of applicable Federal or State securities laws or would adversely affect the treatment of the Company as a partnership for income tax purposes. (Check if Applicable)

  • Admission of Partners 48 12.1 Admission of Successor General Partner........................... 48 12.2 Admission of Additional Limited Partners......................... 48 12.3 Amendment of Agreement and Certificate of Limited Partnership.... 49 ARTICLE 13

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