Members ; Additional Members Clause Samples

Members ; Additional Members. The Members of the Company are set forth on Exhibit A, as such Exhibit may be amended from time to time in accordance with this Agreement. Additional Persons may be admitted to the Company as Members, and Membership Interests may be issued, on such terms and conditions as the Board 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 or Membership Interests having different (including senior) rights, powers and duties, including different classes of Units. Upon the issuance of additional Membership Interests, the Board shall update Exhibit A to reflect the current schedule of all Members, each Member’s ownership interest in the Company, including the number of Units each member owns, and each Member’s Sharing Ratio.