Common use of Admission of New Participants Clause in Contracts

Admission of New Participants. Any Person acquiring a Company Interest pursuant to Section 3.3, or any Permitted Transferee acquiring a Participant’s Company Interest pursuant to Section 3.4, shall, unless such acquiring Permitted Transferee is a Participant as of immediately prior to such acquisition, be deemed to have been admitted to the Company as a Participant, automatically and with no further action being necessary by the Operating Committee, the Participants or any other Person, by virtue of, and upon the consummation of, such acquisition of a Company Interest and compliance with Section 3.3 or Section 3.4, as applicable.

Admission of New Participants. Any Person acquiring a Company Interest pursuant to Section 3.3, or any Permitted Transferee acquiring a Participant’s Company Interest pursuant to Section 3.4, shall, unless such acquiring Permitted Transferee is a Participant as of immediately prior to such acquisition, be deemed to have been admitted to the Company as a Participant, automatically and with no further action being necessary by the Operating Committee, the Participants or any other Person, by virtue of, and upon the consummation of, such acquisition of a Company Interest and compliance with Section 3.3 or Section 3.4, as applicable.applicable.‌

Admission of New Participants. Any Person acquiring a Company Interest pursuant to Section 3.3, or any Permitted Transferee acquiring a Participant’s Company Interest pursuant to Section 3.4, shall, unless such acquiring Permitted Transferee is a Participant as of immediately prior to such acquisition, be deemed to have been admitted to the Company as a Participant, automatically and with no further action being necessary by the Operating Operating‌ Committee, the Participants or any other Person, by virtue of, and upon the consummation of, such acquisition of a Company Interest and compliance with Section 3.3 or Section 3.4, as applicable.