Common use of Assignments Not In Compliance With this Agreement Clause in Contracts

Assignments Not In Compliance With this Agreement. An assignee of Units pursuant to an Assignment that was not made pursuant to and upon the terms and conditions of this Agreement and the Unit Assignment Policy shall not have any rights whatsoever as a Member (whether to receive allocations or Distributions, any notices to Members, to vote, or otherwise) unless and until such assignee has complied with the terms and conditions of this Agreement and the Unit Assignment Policy, and such Assignment shall be of no force and effect whatsoever until such compliance has been obtained and satisfied.

Appears in 8 contracts

Samples: Operating Agreement (Lincolnway Energy, LLC), Operating Agreement (Lincolnway Energy, LLC), Operating Agreement (Lincolnway Energy, LLC)

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Assignments Not In Compliance With this Agreement. An assignee of Units pursuant to an Assignment that assignment which was not made pursuant to and upon the terms and conditions of in accordance with this Agreement and the Unit Assignment Policy shall not have any rights whatsoever as a Member (whether to receive allocations or Distributionsdistributions, any notices to Members, to vote, or otherwise) unless and until such assignee has complied with the terms and conditions of this Agreement and the Unit Assignment Policy, and such Assignment assignment shall be of no force and effect whatsoever until such compliance has been obtained and satisfied.

Appears in 1 contract

Samples: Operating Agreement (Lincolnway Energy, LLC)

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