Assignments of Membership Interest. (a) No Non-Managing Member may sell, assign, pledge or otherwise transfer or encumber (collectively "transfer") all or any part of his interest in the Company, nor shall any Non-Managing Member have the power to substitute a transferee in his place as a substitute Non-Managing Member, without, in either event, having obtained the prior written consent of the Managing Member, which consent may be given or withheld in its sole discretion. (b) The Managing Member may not transfer all or any part of its interest in the Company, nor shall the Managing Member have the power to substitute a transferee in its place as a substitute Managing Member, without, in either event, having obtained the consent of all of the Non-Managing Members.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (Lin Holdings Corp), Limited Liability Company Agreement (WTNH Broadcasting Inc), Limited Liability Company Agreement (WTNH Broadcasting Inc)
Assignments of Membership Interest. (a) No Non-Managing Member may sell, assign, pledge or otherwise transfer or encumber (collectively "βtransfer"β) all or any part of his interest in the Company, nor shall any Non-Managing Member have the power to substitute a transferee in his place as a substitute Non-Managing Member, without, in either event, having obtained the prior written consent of the Managing Member, which consent may be given or withheld in its sole discretion.
(b) The Managing Member may not transfer all or any part of its interest in the Company, nor shall the Managing Member have the power to substitute a transferee in its place as a substitute Managing Member, without, in either event, having obtained the consent of all of the Non-Managing Members.
Appears in 7 contracts
Samples: Limited Liability Company Agreement (Lin Television Corp), Limited Liability Company Agreement (Lin Television Corp), Limited Liability Company Agreement (Lin Television Corp)
Assignments of Membership Interest. (a) No Non-Managing Member may sell, assign, pledge or otherwise transfer or encumber (collectively "transfer") all or any part of his its interest in the Company, nor shall any Non-Managing Member have the power to substitute a transferee in his its place as a substitute Non-Managing Member, without, in either event, having obtained the prior written consent of the Managing Member, which consent may be given or withheld in its sole discretion.
(b) The Managing Member may not transfer all or any part of its interest in the Company, nor shall the Managing Member have the power to substitute a transferee in its place as a substitute Managing Member, without, in either event, having obtained the consent of all of the Non-Managing Members.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Lin Television of Texas Inc), Limited Liability Company Agreement (Lin Television of Texas Inc), Limited Liability Company Agreement (Lin Television of Texas Inc)
