Common use of Ashford Inc Clause in Contracts

Ashford Inc. (a) Other than to an Affiliate of Ashford Inc., Ashford Inc. may not transfer any of its Membership Interest or withdraw as a Member except (i) Ashford Inc. may grant a security interest in or pledge its Membership Interest in the Company to secure debt for borrowed money, or any guaranty thereof, now existing or subsequently incurred, (ii) as provided in Section 9.1(b) or (iii) in connection with a transaction described in Section 9.1(c).

Ashford Inc. (ap) Other than to an Affiliate of Ashford Inc., Ashford Inc. may not transfer any of its Membership Interest or withdraw as a Member except (i) Ashford Inc. may grant a security interest in or pledge its Membership Interest in the Company to secure debt for borrowed money, or any guaranty thereof, now existing or subsequently incurred, (ii) as provided in Section 9.1(b) or (iii) in connection with a transaction described in Section 9.1(c).