Common use of Assignee of Member’s Interest Clause in Contracts

Assignee of Member’s Interest. If, pursuant to a Transfer of an interest in the Company by operation of law and without violation of Section 7.1 hereof (or pursuant to a Transfer that the Company is required to recognize notwithstanding any contrary provisions of this Agreement), a Person acquires an interest in the Company, but is not admitted as a Substituted Member pursuant to Section 7.3 hereof, such Person: (a) shall be treated as an assignee of a Member’s interest, as provided in the Act; (b) shall have no right to participate in the business and affairs of the Company or to exercise any rights of a Member under this Agreement or the Act; and (c) shall share in distributions and allocations from the Company with respect to the transferred interest, on the same basis as the transferring Member.

Assignee of Member’s Interest. If, pursuant to a Transfer of an interest in the Company by operation of law and without violation of Section 7.1 8.1 hereof (or pursuant to a Transfer that the Company is required to recognize notwithstanding any contrary provisions of this Agreement), a Person acquires an interest in the Company, but is not admitted as a Substituted Member pursuant to Sections 8.4 or 8.5.9 hereof, then, subject to Section 7.3 8.5 hereof, such Person: (a) 8.3.1 shall be treated as an assignee of a Member’s interest, as provided in the Act; (b) 8.3.2 shall have no right to participate in the business and affairs of the Company or to exercise any rights of a Member under this Agreement or the Act; and (c) 8.3.3 shall share in distributions and allocations from the Company with respect to the transferred interest, on the same basis as the transferring Member.

Assignee of Member’s Interest. If, pursuant to a Transfer of an interest in the Company by operation of law and without violation of Section 7.1 8.1 hereof (or pursuant to a Transfer that the Company is required to recognize notwithstanding any contrary provisions of this Agreement), a Person acquires an interest in the Company, but is not admitted as a Substituted Member pursuant to Section 7.3 8.3 hereof, such Person: (a) shall be treated as an assignee of a Member’s interest, as provided in the Act; (b) shall have no right to participate in the business and affairs of the Company or to exercise any rights of a Member under this Agreement or the Act; and (c) shall share in distributions and allocations from the Company with respect to the transferred interest, on the same basis as the transferring Member.

Assignee of Member’s Interest. If, pursuant to a Transfer of an interest in the Company by operation of law and without violation of Section 7.1 hereof (or pursuant to a Transfer that the Company is required to recognize notwithstanding any contrary provisions of this Agreement), a Person acquires an interest in the Company, but is not admitted as a Substituted Member pursuant to Section 7.3 hereof7.2(a), 7.2(b) or 7.4, then, subject to Section 7.5, such Person: (a) shall be treated as an assignee of a Member’s 's interest, as provided in the Act; (b) shall have no right to participate in the business and affairs of the Company or to exercise any rights of a Member under this Agreement or the Act; and (c) subject to Section 2.6(e)(iv), shall share in distributions and allocations from the Company with respect to the transferred interest, on the same basis as the transferring Member.

Assignee of Member’s Interest. If, pursuant to a Transfer of an interest in the Company by operation of law and without violation of Section 7.1 8.1 hereof (or pursuant to a Transfer that the Company is required to recognize notwithstanding any contrary provisions of this Agreement), a Person acquires an interest in the Company, but is not admitted as a Substituted Member pursuant to Section 7.3 8.4 hereof, then, subject to Section 8.5 hereof, such Person: (a) 8.3.1 shall be treated as an assignee of a Member’s 's interest, as provided in the Act; (b) 8.3.2 shall have no right to participate in the business and affairs of the Company or to exercise any rights of a Member under this Agreement or the Act; and (c) 8.3.3 shall share in distributions and allocations from the Company with respect to the transferred interest, on the same basis as the transferring Member.. 15

Assignee of Member’s Interest. If, pursuant to a Transfer of an interest in the Company by operation of law and without violation of Section 7.1 8.1 hereof (or pursuant to a Transfer that the Company is required to recognize notwithstanding any contrary provisions of this Agreement), a Person acquires an interest in the Company, but is not admitted as a Substituted Member pursuant to Section 7.3 8.4 hereof, then, subject to Section 8.5 hereof, such Person:: 28 (a) 8.3.1 shall be treated as an assignee of a Member’s 's interest, as provided in the Act; (b) 8.3.2 shall have no right to participate in the business and affairs of the Company or to exercise any rights of a Member under this Agreement or the Act; and (c) 8.3.3 shall share in distributions and allocations from the Company with respect to the transferred interest, on the same basis as the transferring Member.

Assignee of Member’s Interest. If, pursuant to a Transfer of an interest in the Company by operation of law and without violation of Section 7.1 hereof (or pursuant to a Transfer that the Company is required to recognize notwithstanding any contrary provisions of this Agreement), a Person person or entity acquires an interest in the Company, but is not admitted as a Substituted Member pursuant to Section 7.3 hereof8.3, such Personperson or entity: (a) shall be treated as an assignee of a Member’s interestInterest, as provided in the Act; (b) shall have no right to participate in the business and affairs of the Company or to exercise any rights of a Member under this Agreement or the Act; and (c) shall share in distributions and allocations from the Company with respect to the transferred interestInterest, on the same basis as the transferring Member.

Assignee of Member’s Interest. If, pursuant to a Transfer of an interest in the Company by operation of law and without violation of Section 7.1 hereof 8.1 (or pursuant to a Transfer that the Company is required to recognize notwithstanding any contrary provisions of this Agreement), a Person acquires an interest in the Company, but is not admitted as a Substituted Member pursuant to Section 7.3 hereof8.4, then subject to Sections 8.6 and 11, such Person: (a) shall be treated as an assignee of a Member’s interest, as provided in the Act; (b) shall have no right to participate in the business and affairs of the Company or to exercise any rights of a Member under the Act or this Agreement (including, without limitation, any management, voting, or the Actconsent rights under this Agreement); and (c) shall share in distributions and allocations from the Company with respect to the transferred interest, on the same basis as the transferring Member, subject to Section 2.5(e), if applicable.

Assignee of Member’s Interest. If, pursuant to a Transfer of an interest in the Company by operation of law and without violation of Section 7.1 hereof (or pursuant to a Transfer that the Company is required to recognize notwithstanding any contrary provisions of this Agreement), a Person acquires an interest in the Company, but is not admitted as a Substituted Member pursuant to Sections 7.2(a), 7.2(b) or 7.4, then, subject to Section 7.3 hereof7.5, such Person: (a) shall be treated as an assignee of a Member’s interest, as provided in the Act; (b) shall have no right to participate in the business and affairs of the Company or to exercise any rights of a Member under this Agreement or the Act; and (c) subject to Section 2.5(e)(iv), shall share in distributions and allocations from the Company with respect to the transferred interest, on the same basis as the transferring Member.