Common use of Substituted Unitholders Clause in Contracts

Substituted Unitholders. In connection with the transfer of Units permitted under the terms of this Agreement and the other Transaction Documents, the transferee shall become a Substituted Unitholder on the effective date of such Transfer, which effective date shall not be earlier than the date of compliance with or waiver of the conditions to such Transfer (unless one of the conditions to such Transfer is that Board or Unitholder consent is required for the admission of such transferee, in which case such consent must first be obtained), including executing counterparts of, and become a party to, this Agreement and the other Transaction Documents to which the transferor Unitholder was a party, and such admission shall be shown on the books and records of the Company.

Substituted Unitholders. In connection with the transfer Transfer of Units a Company Interest of a Unitholder permitted under the terms of this Agreement (including pursuant to Section 8.1(a)) and the other Transaction Documents, the transferee shall become a Substituted Unitholder on the effective date of such Transfer, which effective date shall not be earlier than the date of compliance with or waiver of the conditions to such Transfer (unless one of the conditions to such Transfer is that Board or Unitholder consent is required for the admission of such transferee, in which case such consent must first be obtained), including executing counterparts of, and become a party to, this Agreement and the other Transaction Documents to which the transferor Unitholder was a party, and such admission shall be shown on the books and records of the Company.

Substituted Unitholders. In connection with the transfer Transfer of Units a Company Interest of a Unitholder permitted under the terms of this Agreement and the other Transaction Documents, the transferee Transferee shall become a Substituted Unitholder on the effective date of such Transfer, which effective date shall not be earlier than the date of compliance with or waiver of the conditions to such Transfer (unless one of the conditions to such Transfer is that Board or Unitholder consent is required for the admission of such transfereeTransferee, in which case such consent must first be obtained), including executing counterparts of, and become a party to, this Agreement and the other Transaction Documents to which the transferor Transferor Unitholder was a party, and such admission shall be shown on the books and records of the Company.

Substituted Unitholders. In connection with the transfer of Units an LLC Interest of a Unitholder permitted under the terms of this Agreement and the other Transaction Documents, the transferee shall become a Substituted Unitholder on the effective date of such Transfertransfer, which effective date shall not be earlier than the date of compliance with or waiver of the conditions to such Transfer transfer (unless one of the conditions to such Transfer transfer is that Board or Unitholder consent is required for the admission of such transferee, in which case such consent must first be obtained), including executing counterparts of, and become a party to, this Agreement and the other Transaction Documents to which the transferor Unitholder was a party, and such admission shall be shown on the books and records of the CompanyLLC.

Substituted Unitholders. In connection with the transfer Transfer of Units an Interest of a Unitholder permitted under the terms of this Agreement and the other Transaction DocumentsOperating Agreement, the transferee shall become a Substituted Unitholder on the effective date of such Transfer, which effective date shall not be earlier than the date of compliance with or waiver of the conditions to such Transfer (unless one of the conditions to such Transfer is that Board or Unitholder consent approval is required for the admission of such transferee, in which case such consent must first be obtained), including executing counterparts of, and become becoming a party to, this Agreement and the other Transaction Documents to which the transferor Unitholder was a partyOperating Agreement, and such admission shall be shown on the books and records of the Company.