Substitute Member. The term "Substitute Member" means any Person who is an assignee of a Unit and who has been admitted as a Member with respect to such Unit pursuant to the procedures set forth in Section 9.2.
Appears in 12 contracts
Samples: Operating Agreement (Lincolnway Energy, LLC), Operating Agreement (Lincolnway Energy, LLC), Operating Agreement (Lincolnway Energy, LLC)
Substitute Member. The term "Substitute Member" means any Person who is shall mean an assignee Assignee of a Unit and the Unit(s) who has been admitted as a Member with respect to such Unit pursuant to the procedures set forth provisions of this Agreement, in Section 9.2place of his/her assignor. A Substitute Member, upon his/her admission as such, shall replace and succeed to the rights, privileges and liabilities of the Member from whom he acquired his/her Unit(s) to the extent of the Unit(s) so transferred.
Appears in 1 contract
Substitute Member. The term "“Substitute Member" ” means any Person who is an assignee of a Unit and who has been admitted as a Member with respect to such Unit pursuant to the procedures set forth in Section 9.2.
Appears in 1 contract
Samples: Operating Agreement
