Common use of Absolute Restrictions Clause in Contracts

Absolute Restrictions. Notwithstanding the other provisions of this Article 10, no transfer of any Unit by any Member shall be made if the transfer: (a) would violate applicable federal and/or state securities laws or rules and regulations of the Securities and Exchange Commission, any state securities commission or any other governmental authority with jurisdiction over the transfer; (b) would materially and adversely affect the classification of the Company as a partnership for federal or state income tax purposes; or (c) would affect the Company’s qualification as a limited liability company under the Act.

Absolute Restrictions. Notwithstanding the other provisions of this Article 10, no transfer of any Unit by any Member Partner shall be made if the transfer: (a) would violate applicable federal and/or state securities laws or rules and regulations of the Securities and Exchange Commission, any state securities commission or any other governmental authority with jurisdiction over the transfer; (b) would materially and adversely affect the classification of the Company Partnership as a partnership for federal or state income tax purposes; or (c) would affect the CompanyPartnership’s qualification as a limited liability company partnership under the Act.

Absolute Restrictions. Notwithstanding the other provisions of this Article 10, no transfer of any Unit by any Member shall be made if the transfer: (a) would violate applicable federal and/or state securities laws or rules and regulations of the Securities and Exchange Commission, any state securities commission or any other governmental govenunental authority with jurisdiction over the transfer; (b) would materially and adversely affect the classification of the Company as a partnership for federal or state income tax purposes; or (c) would affect the Company’s 's qualification as a limited liability company under the Act.