Common use of Creation of Additional Membership Interests Clause in Contracts

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. Additional With respect to a Series, 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. Additional Membership Interests may be created and issued to existing Members or to other Persons ([***])Persons, and such other Persons may be admitted to the Company as Members, only with the express prior approval of the Management Committee or all the Members, and without the consent of [***]any Member or any other Person being required, and, if so approved, only on such terms and conditions as [***] the Management Committee may determine at the time of such approval or admission. The terms of admission or issuance must specify the Sharing Ratios applicable thereto Percentage Interests of the new and existing Members and may provide for the creation of different classes or groups of Members having different rights, powers and duties, including rights, powers and duties that are senior in preference to existing Members. Any such admission is shall be effective only after the New new Member has executed and delivered to the Members each other Member an instrument containing the notice address of the New new Member, the Assigneenew Member’s ratification of this Agreement and agreement to be bound by it, and its confirmation that the representations and warranties in Section 3.02 4.04 are true and correct with respect to it. The provisions of this Section 3.04 8.03 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)Section 8.01.

Creation of Additional Membership Interests. Additional Membership Interests may be created and issued to existing Members or to other Persons ([***])Persons, and such other Persons may be admitted to the Company as Members, with the consent of [***]a Majority Interest, on such terms and conditions as [***] a Majority Interest may determine at the time of admission. The terms of admission or issuance must specify the applicable Sharing Ratios applicable thereto and may provide for the creation of different classes or groups of Members having different rights, powers and duties. Any such admission is effective only after the New new Member has executed and delivered to the Members an instrument containing the notice address of the New 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 and LP Interests or admissions of Assignees in connection therewith, such matters being governed by Sections Section 3.03(a) and (b).

Creation of Additional Membership Interests. Additional Membership Interests may be created and issued to existing Members or to other Persons ([***])Persons, and such other Persons may be admitted to the Company as Members, with the unanimous consent of [***]the existing Members, on such terms and conditions as [***] the existing Members may unanimously 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 or groups of Members having different rights, powers powers, and duties. The Class A Member may reflect the creation of any new class or group in an amendment to this Agreement indicating the different rights, powers, and duties, and such an amendment need be executed only by the Class A Member (if the consent described in the first sentence of this Section 3.04 has already been obtained). Any such admission is effective only after the New new Member has executed and delivered to the Members an instrument containing the notice address of the New new Member, the Assignee’s new Member's ratification of this Agreement and agreement to be bound by it, and its confirmation affirmation 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)Section 3.03.

Creation of Additional Membership Interests. Additional Subject to requirements set forth in Section 10.04, additional Membership Interests may be created and issued to existing Members or to other Persons ([***])Persons, and such other Persons may be admitted to the Company as Members, with the consent of [***]the Common Members, on such terms and conditions as [***] the Common Members 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 or groups of Members having different rights, powers powers, and duties. Any such admission is effective only after the New new Member has executed and delivered to the Common Members an instrument containing the notice address of the New new Member, the Assignee’s new Member's ratification of this Agreement and agreement to be bound by it, and its confirmation affirmation 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)Section 3.03.

Creation of Additional Membership Interests. Additional Membership Interests may be created and issued to existing Members or to other Persons ([***])Persons, and such other Persons may be admitted to the Company as Members, with the unanimous consent of [***]the existing Members, on such terms and conditions as [***] the existing Members may unanimously 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 or groups of Members having different rights, powers powers, and duties. The Class A Members may reflect the creation of any new class or group in an amendment to this Agreement indicating the different rights, powers, and duties, and such an amendment need be executed only by the Class A Members (if the consent described in the first sentence of this Section 3.04 has already been obtained). Any such admission is effective only after the New new Member has executed and delivered to the Members an instrument containing the notice address of the New new Member, the Assignee’s new Member's ratification of this Agreement and agreement to be bound by it, and its confirmation affirmation 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)Section 3.03.

Creation of Additional Membership Interests. Additional Membership Interests may be created and issued to existing Members or to other Persons ([***])Persons, and such other Persons may be admitted to the Company as Members, only with the express prior approval of the Management Committee or all the Members, and without the consent of [***]any Member or any other Person being required, and, if so approved, only on such terms and conditions as [***] the Management Committee may determine at the time of such approval or admission. The terms of admission or issuance must specify the Sharing Ratios applicable thereto Percentage Interests of the new and existing Members and may provide for the creation of different classes or groups of Members having different rights, powers and duties, including rights, powers and duties that are senior in preference to existing Members. Any such admission is shall be effective only after the New new Member has executed and delivered to the Members each other Member an instrument containing the notice address of the New new Member, the Assigneenew Member’s ratification of this Agreement and agreement to be bound by it, and its confirmation that the representations and warranties in Section 3.02 4.03 are true and correct with respect to it. The provisions of this Section 3.04 8.03 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)Section 8.01.