Common use of Assignment of Right to Distributions Clause in Contracts

Assignment of Right to Distributions. Each Member shall have the right to sell, transfer or assign, for cash, or cash and notes, by a written instrument its right to receive distributions of cash or other property from the Company; provided that any such assignment is not secured by the Units and further provided that such an assignee shall not be substituted as a substitute Member in place of any Member.

Assignment of Right to Distributions. Each Member shall have the right to sell, transfer or assign, for cash, or cash and notes, by a written instrument its right to receive distributions of cash or other property from the Company; provided that any such assignment is not secured by the Units Interests and further provided that such an assignee shall not be substituted as a substitute Substitute Member in place of any Member.