Common use of Assignments by Operation of Law Clause in Contracts

Assignments by Operation of Law. If any Investor shall die, with or without leaving a will, or become non compos mentis, bankrupt or insolvent, or if a corporate, partnership or trust Investor dissolves during the Fund term or if any other involuntary transfer of an Investor's Shares is made, the legal representatives, heirs and legatees (and spouse, if the Shares have been community property of such Investor and his or her spouse), bankruptcy assignees, successors, assigns and corporate, partnership or trust distributees or such other involuntary transferees (collectively "Involuntary Transferees") shall not become transferees but shall have (subject to the other terms and provisions hereof) such rights as are provided with respect to such persons under the law; provided, however, that such Involuntary Transferees shall not be an Investor, as defined herein, unless such Involuntary Transferees become Investors in accordance with and subject to the provisions of Section 13.2 including, but not limited to the right to of the Fund to deny or place conditions on any transfer if by granting such transfer it would require the Fund to register as a public company under the Securities Exchange Act of 1934.

Assignments by Operation of Law. If any Investor shall die, with or without leaving a will, or become non compos mentis, bankrupt or insolvent, or if a corporate, partnership or trust Investor dissolves during the Fund term or if any other involuntary transfer of an Investor's ’s Shares is made, the legal representatives, heirs and legatees (and spouse, if the Shares have been community property of such Investor and his or her spouse), bankruptcy assignees, successors, assigns and corporate, partnership or trust distributees or such other involuntary transferees (collectively "“Involuntary Transferees"”) shall not become transferees but shall have (subject to the other terms and provisions hereof) such rights as are provided with respect to such persons under the law; provided, however, that such Involuntary Transferees shall not be an Investor, as defined herein, unless such Involuntary Transferees become Investors in accordance with and subject to the provisions of Section 13.2 including, but not limited to the right to of the Fund to deny or place conditions on any transfer if by granting such transfer it would require the Fund to register as a public company under the Securities Exchange Act of 1934.