Common use of Member Documentation Clause in Contracts

Member Documentation. Prior to the execution of this Agreement, the Investor Members and Investor Entities, if any, shall have delivered to MHMI copies of all documents, instruments and agreements related to the formation, ownership and governance of the Investor Members and the Investor Entities (the "Investor Documents"). None of the Investor Documents will be altered or amended without the consent of MHMI, which consent shall not be unreasonably withheld following review of the Investor Documents by MHMI for the purpose of ensuring (a) that the Company's ownership is in compliance with applicable law and (b) that the Investor Documents include terms that will enable the Company to enforce the obligations of this Agreement against the applicable Investor Member and/or Investor Entity. If MHMI has not provided the Investor Member or Investor Entity, as the case may be, with its written objections to a proposed alteration or amendment to Investor Documents within thirty (30) days of the receipt by MHMI of such proposed alteration or amendment, then such alteration or amendment shall be deemed to have been consented to by MHMI. Contemporaneously with the Investor Members' admission as Members of the Company: (i) the Investor Entities shall each execute an Addendum to Subscription Agreement under which, among other things, they agree to be bound by the terms and conditions of Section 5.10 hereof, and no additional Investor Entities shall be admitted as owners of a Member unless such Investor Entities executes an Addendum to Subscription Agreement; and (ii) the Owners shall each execute an Addendum to Subscription Agreement under which, among other things, those individuals agree to be personally bound by the terms and conditions of Section 5.10 hereof. Additionally (unless such requirement is waived by the Board of Directors), Owners who are physicians (or their Practices) shall also execute a Hospital Professional Services Agreement with the Company and a Right of First Refusal Agreement with an Affiliate of MHMI. No Person shall be admitted hereafter as an owner of the Investor Members or Investor Entities unless such Person also executes such Addendum to Subscription Agreement, the Hospital Professional Services Agreement (Owners who are physicians or their Practices only) and the Right of First Refusal Agreement (Owners who are physicians or their Practices only) so that they are bound thereby to the same extent as are Owners as of the date hereof.

Appears in 2 contracts

Samples: Operating Agreement (Medcath Corp), Operating Agreement (Medcath Corp)

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Member Documentation. Prior to the execution of this Agreement, the Investor Members Member and Investor Entities, if any, Entities shall have delivered to MHMI LHMI copies of all documents, instruments and agreements related to the formation, ownership and governance of the Investor Members Member and the Investor Entities (the "Investor Documents"). None of the Investor Documents will be altered or amended without the consent of MHMILHMI, which consent shall not be unreasonably withheld following review of the Investor Documents by MHMI for the purpose of ensuring (a) that the Company's ownership is in compliance with applicable law and (b) that the Investor Documents include terms that will enable the Company to enforce the obligations of this Agreement against the applicable Investor Member and/or Investor Entitywithheld. If MHMI LHMI has not provided the Investor Member or Investor Entity, as the case may be, with its written objections objection to a proposed alteration or amendment to Investor Documents Documents, within thirty (30) days of the receipt by MHMI LHMI of such proposed alteration or amendment, then such alteration or amendment shall be deemed to have been consented to by MHMILHMI. Contemporaneously with the Investor Members' Member's admission as Members a Member of the Company: , (i) the Investor Entities shall each execute an Addendum to Subscription Agreement under which, among other things, they agree to be bound by the terms and conditions of Section 5.10 hereof, and no additional Investor Entities shall be admitted as owners of a Member unless such Investor Entities executes an Addendum to Subscription Agreement; and (ii) the Owners shall each execute an Addendum to Subscription Agreement under which, among other things, those individuals agree to be personally bound by the terms and conditions of Section 5.10 hereof. Additionally (unless such requirement is waived by the Board of Directors), Owners who are physicians (or their Practices) shall also execute a Hospital Professional Services Agreement with the Company and a Right of First Refusal Agreement with an Affiliate of MHMILHMI. No Person shall be admitted hereafter as an owner of the Investor Members Member or Investor Entities unless such Person also executes such Addendum to Subscription Agreement, the Hospital Professional Services Agreement (Owners who are physicians or their Practices only) and the Right of First Refusal Agreement (Owners who are physicians or their Practices only) so that they are bound thereby to the same extent as are Owners as of the date hereof.

Appears in 2 contracts

Samples: Operating Agreement (Medcath Corp), Operating Agreement (Medcath Corp)

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