Effect of Permitted Transfer. Any Transfer of a Membership Interest that complies with this Agreement shall be effective to assign the right to become a Member, and, without the need for any action or consent of any other Person, a transferee of such Membership Interest shall automatically be admitted as a Member upon execution of an Adoption Agreement. As a condition to the Company’s obligation to effect a Transfer permitted hereunder, any transferee of Membership Interests shall be required to become a party to this Agreement as a Member, and shall have all the rights and obligations of a Member hereunder, upon executing an Adoption Agreement.
Appears in 2 contracts
Samples: Operating Agreement (Jacob Leinenkugel Brewing Co., LLC), Operating Agreement (Jacob Leinenkugel Brewing Co., LLC)
Effect of Permitted Transfer. Any Transfer of a Membership Interest that complies with this Agreement shall be effective to assign the right to become a Member, and, without the need for any action or consent of any other Person, a transferee of such Membership Interest shall automatically be admitted as a Member upon its execution of an Adoption Agreement. As a condition to the Company’s obligation to effect a Transfer permitted hereunder, any transferee of Membership Interests shall be required to become a party to this Agreement as a Member, and shall have all the rights and obligations of a Member hereunder, upon by executing an Adoption AgreementAgreement in the form of Exhibit A or in such other form that is satisfactory to the Board of Managers.
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Google Inc.)
Effect of Permitted Transfer. Any Transfer transfer of a Membership Interest that complies with this Agreement shall be effective to assign the right to become a Member, and, without the need for any action or consent of any other Person, a transferee of such Membership Interest shall automatically be admitted as a Member upon execution of an Adoption agreement agreeing to be bound by the terms and subject to the conditions of this Agreement. As a condition to the Company’s obligation to effect a Transfer transfer permitted hereunder, any transferee of Membership Interests shall be required to become a party to this Agreement as a Member, and shall have all the rights and obligations of a Member hereunder, upon by executing an Adoption AgreementAgreement in such form that is satisfactory to the Managing Member.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Jacob Leinenkugel Brewing Co., LLC), Limited Liability Company Operating Agreement (Jacob Leinenkugel Brewing Co., LLC)
