Common use of Rights and Obligations of Additional Members and Substituted Members Clause in Contracts

Rights and Obligations of Additional Members and Substituted Members. A Transferee who has been admitted as a Substituted Member or a purchaser of Units from the Company who has been admitted as an Additional Member in accordance with this Agreement shall have all the rights and powers and be subject to all the restrictions and liabilities under this Agreement relating to a Member holding Units. Unless admitted as a Substituted Member or an Additional Member, no such Transferee (whether by a voluntary transfer, by operation of law or otherwise) or purchaser shall be admitted to the Company as, or have the rights of, a Member under this Agreement.