Creation of Additional Membership Interests. Additional Membership Interests may be created and issued to existing Members or to other Persons ([***]), and such other Persons may be admitted to the Company as Members, with the consent of [***], on such terms and conditions as [***] may determine at the time of admission. The terms of admission or issuance must specify the Sharing Ratios applicable thereto and may provide for the creation of different classes of Members having different rights, powers and duties. Any such admission is effective only after the New Member has executed and delivered to the Members an instrument containing the notice address of the New Member, the Assignee’s ratification of this Agreement and agreement to be bound by it, and its confirmation that the representations and warranties in Section 3.02 are true and correct with respect to it. The provisions of this Section 3.04 shall not apply to Dispositions of Membership Interests or admissions of Assignees in connection therewith, such matters being governed by Sections 3.03(a) and (b).
Creation of Additional Membership Interests. The Board may cause the Company to issue additional Membership Interests in the Company and additional Persons receiving such additional Membership Interests may be admitted to the Company as Members pursuant to this Section 3.2 with, in each case, the consent of Members holding a majority of the then outstanding Membership Interests. The terms of admission or issuance may provide for the creation of different classes or groups of Members having different rights, powers, and duties. The creation of any new class or group of Membership Interests or Members in accordance with this Section 3.2 may be reflected in an amendment to this Agreement executed in accordance with Section 11.4 indicating the different rights, powers, and duties thereof. Any such admission is effective only after the new Member has executed and delivered to the Company an instrument containing the notice address of the new Member and the new Member’s ratification of this Agreement and agreement to be bound by it.
Creation of Additional Membership Interests. Additional Membership Interests may be created and issued to existing Members or to other Persons, and such other Persons may be admitted to the Company as Members, at the direction of the Managers and a Majority Interest, on such terms and conditions, and with such Sharing Ratios and commitments, as the Managers and a Majority Interest may determine at the time of admission. The Managers may reflect the admission of any new Members or the creation of any new class or group of Members in an amendment to this Agreement that need be executed only by the Managers.
Creation of Additional Membership Interests. With respect to each Series, Additional Membership Interests may be created and issued to existing Members holding Membership Interests in such Series, on such terms and conditions as [***] of the Management Committee of such Series may determine at the time of issuance. With respect to any Series, Additional Membership Interests may be created and issued to Persons who are not then Members of such Series, who shall thereupon be admitted to such Series as Members of such Series, with the consent of [***] of the Management Committee of such Series and the approval of [***] of the Series A Management Committee, with such Additional Membership Interests having such terms and conditions as [***] of the Management Committee of such Additional Series may determine at the time of admission. The terms of admission or issuance must specify the Sharing Ratios applicable thereto and may provide for the creation of different classes of Members with respect to such Series having different rights, powers and duties pursuant to Section 3.01(c). Any such admission is effective only after the New Member has executed and delivered to the Members an instrument containing the notice address of the New Member, the Assignee’s ratification of this Agreement and agreement to be bound by it, and its confirmation that the representations and warranties in Section 3.02 are true and correct with respect to it. The provisions of this Section 3.04 shall not apply to Dispositions of Membership Interests or admissions of Assignees in connection therewith, such matters being governed by Sections 3.03(a) and (b).
Creation of Additional Membership Interests. Additional membership interests may be created and issued to the Member or to any other Person, and any such other Person may be admitted to the Company as a member, only at the direction of the Member, on such terms and conditions as the Member may determine at the time of admission. The Member may reflect the admission of any new members or the creation of any new class or group of members in an amendment to this Agreement that need be executed only by the Member. If deemed necessary or appropriate by the Member, such amendment may include provisions amending this Agreement as may be required to reflect that there is more than one member of the Company.
Creation of Additional Membership Interests. Subject to Article XI and the approval of the Managing Member, the Company may issue additional Membership Interests in the Company pursuant to this Section 3.2. The terms of admission or issuance may provide for the creation of different classes or groups of Members having different rights, powers and duties. The creation of any new class or group of Members approved as required herein may be reflected in an amendment to this Agreement executed in accordance with Section 13.4 indicating the different rights, powers and duties thereof. Any such admission is effective only after the new Member has executed and delivered to the Members an instrument containing the notice address of the new Member and the new Member’s ratification of this Agreement and agreement to be bound by it.
Creation of Additional Membership Interests. Upon unanimous consent of the Class A Members, the Class A Members may cause the Company to issue additional Membership Interests in the Company and additional Persons may be admitted to the Company as Members under this Section 3.2. The terms of admission or issuance may provide for the creation of different classes or groups of Members having different rights, powers, and duties. The creation of any new class or group of Membership Interests or admission of Members approved as required herein may be reflected in an amendment to this Agreement executed in accordance with Section 11.5 indicating the different rights, powers, and duties thereof. Any such admission is effective only after the new Member has executed and delivered to the Company an instrument containing the notice address of the new Member and the new Member’s ratification of this Agreement and agreement to be bound by it, which instrument may be a counterpart signature page to this Agreement.
Creation of Additional Membership Interests. Additional Membership Interests may be created and issued to existing Members or to other Persons, and such other Persons may be admitted to the Company as Members, with the approval of the Developer Member and the GECC Member, on such terms and conditions as the Developer Member and the GECC Member may determine at the time of admission.
Creation of Additional Membership Interests. Subject to Article 11, the Baord may cause the Company to issue additional Membership Interests in the Company pursuant to this Section 3.2. The terms of admission or issuance may provide for the creation of different classes or groups of Members having different rights, powers, and duties. The creation of any new class or group of Members approved as required herein may be reflected in an amendment to this Agreement executed in accordance with Section 13.4 indicating the different rights, powers, and duties thereof. Any such admission is effective only after the new Member has executed and delivered to the Members an instrument containing the notice address of the new Member and the new Member’s ratification of this Agreement and agreement to be bound by it.
Creation of Additional Membership Interests. The Board may cause the Company to issue additional Membership Interests in the Company and additional Persons receiving such additional Membership Interests may be admitted to the Company as Members pursuant to this Section 3.2 with, in each case, the consent of the Class A Member. The terms of admission or issuance may provide for the creation of different classes or groups of Members having different rights, powers, and duties; provided, however, that the Company may not alter the terms of the Class IDR Membership Interests, or issue any additional Membership Interests the result of which would be a reduction in the percentage of the IDR Proceeds to be received by the Class IDR Members, without the unanimous written consent of the Class IDR Members. The creation of any new class or group of Membership Interests or Members in accordance with this Section 3.2 may be reflected in an amendment to this Agreement executed in accordance with Section 11.4 indicating the different rights, powers, and duties thereof. Any such admission is effective only after the new Member has executed and delivered to the Company an instrument containing the notice address of the new Member and the new Member’s ratification of this Agreement and agreement to be bound by it.
