Assignment of Membership Interest. The Member may assign in whole or in part its membership interest in the LLC. If the Member assigns all of its membership interest in the LLC, the transferee shall be automatically be admitted as a member of the LLC and immediately following such admission the transferor member shall cease to be a member of the LLC.
Appears in 11 contracts
Samples: Limited Liability Company Agreement (Peabody Trout Creek Reservoir LLC), Limited Liability Company Agreement (Pacific Export Resources, LLC), Limited Liability Company Agreement (Pacific Export Resources, LLC)
