Admission of Assignee as a Member. An Assignee has the right to be admitted to the Company as a Member, with the Membership Interests (and attendant Percentage Interest) so Transferred to such Assignee, only if (a) the Member making the Disposition (a “Disposing Member”) has granted the Assignee either (i) all, but not less than all, of such Disposing Member’s Membership Interests or (ii) the express right to be so admitted; and (b) such Disposition is effected in strict compliance with this Article V.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Alliance Holdings GP, L.P.), Limited Liability Company Agreement (Penn Virginia GP Holdings, L.P.), Limited Liability Company Agreement (Penn Virginia GP Holdings, L.P.)
Admission of Assignee as a Member. An Assignee has the right to be admitted to the Company as a Member, with the Membership Interests (and attendant Percentage Interest) so Transferred Disposed to such Assignee, only if (a) the Member making the Disposition (a “Disposing Member”) has granted the Assignee either (i) all, but not less than all, of such Disposing Member’s Membership Interests or (ii) the express right to be so admitted; and (b) such Disposition is effected in strict compliance with this Article V.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Penn Virginia GP Holdings, L.P.), Limited Liability Company Agreement (Penn Virginia GP Holdings, L.P.)
Admission of Assignee as a Member. An Assignee has the right to be admitted to the Company as a Member, with the Membership Interests (and attendant Percentage InterestSharing Ratio) so Transferred transferred to such Assignee, only if (a) the Member making the Disposition (a “"Disposing --------- Member”") has granted the Assignee either (i) all, but not less than all, of such ------ Disposing Member’s 's Membership Interests or (ii) the express right to be so admitted; and (b) such Disposition is effected in strict compliance with this Article V.IV.
Appears in 1 contract
Samples: Sunoco Logistics Partners Lp
Admission of Assignee as a Member. An Assignee has the right to be admitted to the Company as a Member, with the Membership Interests (and attendant Percentage InterestSharing Ratio) so Transferred transferred to such Assignee, only if (a) the Member making the Disposition (a “Disposing Member”) has granted the Assignee either (i) all, but not less than all, of such Disposing Member’s Membership Interests or (ii) the express right to be so admitted; and (b) such Disposition is effected in strict compliance with this Article V.Article
Appears in 1 contract
Samples: Limited Liability Company Agreement (Sunoco Logistics Partners L.P.)
Admission of Assignee as a Member. An Assignee has the right to be admitted to the Company as a Member, with the Membership Interests Interest (and attendant Percentage Interest) so Transferred to such Assignee, only if (a) the Member making the Disposition (a “Disposing Member”) has granted the Assignee either (i) all, but not less than all, of such Disposing Member’s Membership Interests Interest or (ii) the express right to be so admitted; and (b) such Disposition is effected in strict compliance with this Article V.VI.
Appears in 1 contract
Samples: Limited Liability Company Agreement (K-Sea GP Holdings LP)
Admission of Assignee as a Member. An Assignee has the right to be admitted to the Company as a Member, with the Membership Interests Interest (and attendant Percentage Interest) so Transferred transferred to such Assignee, only if (a) the Member making the Disposition (a “"Disposing Member”") has granted the Assignee either (i) all, but not less than all, of such Disposing Member’s Membership Interests 's Interest or (ii) the express right to be so admitted; and (b) such Disposition is effected in strict compliance with this Article V.4.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Legacy Reserves L P)
