Common use of Admission of Transferees Clause in Contracts

Admission of Transferees. Notwithstanding any provision of this Agreement to the contrary, a transferee shall have the right to become a substitute Member if (i) the requirements of subsections A and B hereof are met, (ii) such Person executes instruments reasonably satisfactory to the Executive Committee accepting and adopting the terms and provisions of this Agreement, and (iii) such Person pays any reasonable expenses in connection with such Person’s admission as a substitute Member.

Admission of Transferees. Notwithstanding any provision of this Agreement to the contrary, a Person who is a transferee of all of a Member’s interest in the Company shall have the right to become a substitute Member if (i) the requirements of subsections A and B subsection (A) hereof are met, (ii) such Person executes instruments reasonably satisfactory to the Executive Committee accepting and adopting the terms and provisions of and assuming all of the transferor’s obligations under this Agreement, and (iii) such Person transferee pays any reasonable expenses in connection with such Person’s admission as a substitute Member.

Admission of Transferees. Notwithstanding any provision of this Agreement to the contrary, a transferee shall have the right to become a substitute Member if (i) the requirements of subsections A (a) and B (b) hereof are met, (ii) such Person executes instruments reasonably satisfactory to the Executive Committee accepting and adopting the terms and provisions of this Agreement, and (iii) such Person pays any reasonable expenses in connection with such Person’s admission as a substitute Member.