Common use of Admission of Substitute Members Clause in Contracts

Admission of Substitute Members. As to Permitted Transfers, a transferee of Units shall be admitted as a substitute Member provided that such transferee has complied with the following provisions: (a) The transferee shall, by written instrument in form and substance reasonably satisfactory to the Governors, agree to be bound by all of the terms and provisions of this Agreement, and assume the obligations of the transferor Member hereunder with respect to the Transferred Units. (b) The transferee shall pay for or reimburse the Company for all reasonable legal, filing and publication costs incurred in connection with the admission of the transferee as a Member; and (c) Except in the case of a Transfer involuntarily by operation of law, if required by the Governors, the transferee shall deliver to the Company evidence of his/her/its authority to become a Member. (d) The transferee and transferor shall each execute and deliver such other instruments as the Governors reasonably deem necessary or appropriate in connection with such Transfer.

Admission of Substitute Members. As to Permitted Transfers, a transferee of Units shall be admitted as a substitute Member provided that such transferee has complied with the following provisions: (a) The transferee shall, by written instrument in form and substance reasonably satisfactory to the GovernorsDirectors, agree to be bound by all of the terms and provisions of this Agreement, and assume the obligations of the transferor Member hereunder with respect to the Transferred Units. (b) The transferee shall pay for or reimburse the Company for all reasonable legal, filing and publication costs incurred in connection with the admission of the transferee as a Member; and (c) Except in the case of a Transfer involuntarily by operation of law, if required by the GovernorsDirectors, the transferee shall deliver to the Company evidence of his/her/its authority to become a Member. (d) The transferee and transferor shall each execute and deliver such other instruments as the Governors Directors reasonably deem necessary or appropriate in connection with such Transfer.

Admission of Substitute Members. As to Permitted Transfers, a A transferee of Units Units, pursuant to a Permitted Transfer, shall be admitted as a substitute Member provided that such transferee has complied with the following provisions: (a) The transferee shall, by written instrument in form and substance reasonably satisfactory to the GovernorsBoard, agree to be bound by all of the terms and provisions of this Agreement, and assume the obligations of the transferor Member hereunder with respect to the Transferred Units. (b) The transferee shall pay for or reimburse the Company for all reasonable legal, filing and publication costs incurred in connection with the admission of the transferee as a Member; and. (c) Except in the case of a Transfer involuntarily by operation of law, if required by the GovernorsBoard, the transferee shall deliver to the Company evidence of his/her/its authority to become a Member. (d) The transferee and transferor shall each execute and deliver such other instruments as the Governors Board reasonably deem deems necessary or appropriate in connection with such Transfer.

Admission of Substitute Members. As to Permitted Transfers, a transferee of Units shall be admitted as a substitute Member provided that such transferee has complied with the following provisions: (a) The transferee shall, by written instrument in form and substance reasonably satisfactory to the GovernorsDirectors, accept and agree to be bound by all of the terms and provisions of this Agreement, and assume the obligations of the transferor Member hereunder with respect to the Transferred Units. (b) The transferee shall pay for or reimburse the Company for all reasonable legal, filing and publication costs incurred in connection with the admission of the transferee as a Member; and (c) Except in the case of a Transfer involuntarily by operation of law, if required by the GovernorsDirectors, the transferee shall deliver to the Company evidence of his/her/its authority to become a MemberMember and to be bound by all the terms and conditions of this Agreement. (d) The transferee and transferor shall each execute and deliver such other instruments as the Governors Directors reasonably deem necessary or appropriate in connection with such Transfer.

Admission of Substitute Members. As to Permitted Transfers, a transferee of Units shall be admitted as a substitute Member provided that such transferee has complied with the following provisions: (a) The transferee shall, by written instrument in form and substance reasonably satisfactory to the GovernorsManagers, agree to be bound by all of the terms and provisions of this Agreement, and assume the obligations of the transferor Member hereunder with respect to the Transferred Units. (b) The transferee shall pay for or reimburse the Company for all reasonable legal, filing and publication costs incurred in connection with the admission of the transferee as a Member; and (c) Except in the case of a Transfer involuntarily by operation of law, if required by the GovernorsManagers, the transferee shall deliver to the Company evidence of his/her/its authority to become a Member. (d) The transferee and transferor shall each execute and deliver such other instruments as the Governors Managers reasonably deem necessary or appropriate in connection with such Transfer.

Admission of Substitute Members. As to Permitted Transfers, a transferee of Units shall be admitted as a substitute Member provided that such transferee has complied with the following provisions: (a) The transferee Transferee shall, by written instrument in form and substance reasonably satisfactory to the Governors, agree to be bound by all of the terms and provisions of this Agreement, and assume the obligations of the transferor Member hereunder with respect to the Transferred Units. (b) The transferee shall pay for or reimburse the Company for all reasonable legal, filing and publication costs incurred in connection with the admission of the transferee as a Member; and (c) Except in the case of a Transfer involuntarily by operation of law, if required by the Governors, the transferee shall deliver to the Company evidence of his/her/its authority to become a Member. (d) The transferee and transferor shall each execute and deliver such other instruments as the Governors reasonably deem necessary or appropriate in connection with such Transfer.

Admission of Substitute Members. As to Permitted Transfers, a transferee of Units shall be admitted as a substitute Member provided that such transferee has complied with the following provisions: (a) The transferee shall, by written instrument in form and substance reasonably satisfactory to the GovernorsDirectors, agree to be bound by all of the terms and provisions of this Agreement, and assume the obligations of the transferor Member hereunder with respect to the Transferred Units. (b) The transferee shall pay for or reimburse the Company for all reasonable legal, filing and publication costs incurred in connection with the admission of the transferee as a Member; and. (c) Except in the case of a Transfer involuntarily by operation of law, if required by the GovernorsDirectors, the transferee shall deliver to the Company evidence of his/her/its authority to become a Member. (d) The transferee and transferor shall each execute and deliver such other instruments as the Governors Directors reasonably deem necessary or appropriate in connection with such Transfer.