Common use of Assignability of Units; Assignment by Managing Member Clause in Contracts

Assignability of Units; Assignment by Managing Member. (a) Except as provided in paragraph (b) below, without the prior written consent of the Managing Member, which may be withheld in its sole and absolute discretion, with or without cause, a Member may not pledge, transfer or assign its Units in the Company in whole or in part to any Person except by operation of law, nor substitute any other Person as a Member. Any attempted pledge, transfer, assignment or substitution not made in accordance with this Section 1.05 shall be void.

Assignability of Units; Assignment by Managing Member. (a) Except as provided in paragraph (b) below, without the prior written consent of the Managing Member, which may be withheld in its sole and absolute discretion, with or without cause, a Member may not pledge, transfer or assign its Units in the Company in whole or in part to any Person person except by operation of law, nor substitute any other Person as a Member. Any attempted pledge, transfer, assignment or substitution not made in accordance with this Section 1.05 shall be void.

Assignability of Units; Assignment by Managing Member. (a) Except as provided in paragraph (b) below, without the prior written consent of the Managing Member, which may be withheld in its sole and absolute discretion, with or without cause, a Member may not (i) pledge, transfer or assign its Units in the Company in whole or in part to any Person person except by operation of law, nor substitute any other Person as a Member. Any attempted pledge, transfer, assignment or substitution not made in accordance with this Section 1.05 shall be void.

Assignability of Units; Assignment by Managing Member. (a) Except as provided in paragraph (b) below, without the prior written consent of the Managing Member, which may be withheld in its sole and absolute discretion, with or without cause, a Member may not pledge, transfer or assign its Units in the Company in whole or in part to any Person except by operation of lawlaw pursuant to the death, adjudication of incompetency, insolvency or bankruptcy of the Member, nor substitute any other Person as a Member. Any attempted pledge, transfer, assignment or substitution not made in accordance with this Section 1.05 shall be void.

Assignability of Units; Assignment by Managing Member. (a) Except as provided in paragraph (b) below, without the prior written consent of the Managing Member, which may be withheld in its sole and absolute discretion, with or without cause, a Member may not pledge, transfer or assign its Units in the Company in whole or in part to any Person except by operation of lawlaw pursuant to the death, bankruptcy, dissolution, corporate reorganization or merger of a Member, nor substitute any other Person as a Member. Any attempted pledge, transfer, assignment or substitution not made in accordance with this Section 1.05 shall be void.

Assignability of Units; Assignment by Managing Member. (a) Except as provided in paragraph (b) below, without the prior written consent of the Managing Member, which may be withheld in its sole and absolute discretion, with or without cause, a Member may not pledge, transfer or assign its Units in the Company in whole or in part to any Person person except by operation of lawlaw pursuant to the death, bankruptcy, dissolution, corporate reorganization or merger of a Member, nor substitute any other Person person as a Member. Any attempted pledge, transfer, assignment or substitution not made in accordance with this Section 1.05 shall be void.