Xxxxxxxx and Xx. Xxxxxxxx shall be admitted as a Nonvoting Member of the Company effective upon receipt by the Company of both the $300,000 referred to in subclause (i) above and the issuance to the Company of both the Xxxxxxxx Promissory Note and the letter of credit which is to secure the Xxxxxxxx Promissory Note as provided above.
Appears in 3 contracts
Samples: Operating Agreement (Portfolio Boost Ii Lp), Operating Agreement (Portfolio Boost Iii Lp), Operating Agreement (Portfolio Boost I Lp)
Xxxxxxxx and Xx. Xxxxxxxx shall be admitted as a Nonvoting Member of the Company effective upon receipt by the Company of both the $300,000 referred to in subclause (i) above and the issuance to the Company of both the Xxxxxxxx Promissory Note and the letter of credit which is to secure the Xxxxxxxx Promissory Note as provided above.
Appears in 2 contracts
Samples: Operating Agreement (Portfolio Boost I Lp), Operating Agreement (Portfolio Boost Ii Lp)
