Common use of CHANGE IN MEMBERSHIP Clause in Contracts

CHANGE IN MEMBERSHIP. The Member shall have the right or power, directly or indirectly, to sell, assign, transfer, give, hypothecate, pledge, encumber or otherwise dispose of all or any portion of its interest as a Member in the Company to any Person (a "Transferee"). Any Transferee may be admitted as a Member with the consent of, and upon such terms (including the capital contribution to be made and the Membership Interest to be received) as may be determined by the Member. Upon the admission of a Transferee as a Member, Exhibit A annexed hereto shall be amended to reflect each Member's revised Membership Interest. No Transferee shall become a Member until the Transferee has become a party to, and adopted all of the terms and conditions of, this Agreement.

CHANGE IN MEMBERSHIP. The Member shall have the right or power, directly or indirectly, to sell, assign, transfer, give, hypothecate, pledge, encumber or otherwise dispose of all or any portion of its interest as a Member in the Company to any Person (a "“Transferee"”). Any Transferee may be admitted as a Member with the consent of, and upon such terms (including the capital contribution to be made and the Membership Interest to be received) as may be determined by the Member. Upon the admission of a Transferee as a Member, Exhibit A annexed hereto shall be amended to reflect each Member's ’s revised Membership Interest. No Transferee shall become a Member until the Transferee has become a party to, and adopted all of the terms and conditions of, this Agreement.