Common use of Creation of Additional Membership Interests Clause in Contracts

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. 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. 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 MemberMember Approval. 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. 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 Class A Memberthen 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. The Board Upon unanimous consent of the Members, the Members 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 under this Section 3.2 with, in each case, the consent of the Class A Member3.2. 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 Members in accordance with this Section 3.2 approved as required herein may be reflected in an amendment to this Agreement executed in accordance with Section 11.4 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.