Common use of Absolute Prohibition Clause in Contracts

Absolute Prohibition. Notwithstanding any other provision in this Article VIII, the Membership Interest of the Member, in whole or in part, or any rights to distributions therefrom, shall not be sold, exchanged, conveyed, transferred, pledged, hypothecated, subjected to a security interest, or otherwise assigned or encumbered, if such action would result in a violation of federal or state securities laws in the opinion of counsel for the Company.

Absolute Prohibition. Notwithstanding any other provision in this Article VIII, the Membership Interest of the Membera member, in whole or in part, or any rights to distributions therefrom, shall not be sold, exchanged, conveyed, transferred, pledged, hypothecated, subjected to a security interest, or otherwise assigned or encumbered, if such action would result in a violation of federal or state securities laws in the opinion of counsel for the Company.

Absolute Prohibition. Notwithstanding any other provision in this Article VIII, the Membership Interest of the a Member, in whole or in part, or any rights to distributions therefrom, shall not be sold, exchanged, conveyed, transferredassigned, pledged, hypothecated, subjected to a security interest, interest or otherwise assigned transferred or encumbered, if if, as a result thereof, the Company would be terminated for federal income tax purposes in the opinion of counsel for the Company or such action would result in a violation of federal or state securities laws in the opinion of counsel for the Company.