Bankruptcy or Incapacity of a Member. In the event of the bankruptcy or incapacity of a Member, the Company shall not be dissolved, and the Member’s trustee in bankruptcy or other legal representative shall have only the rights of a transferee of the right to receive Company distributions applicable to the Units of such bankrupt or incapacitated Member as provided herein. Any Transfer to or from such trustee in bankruptcy or legal representative shall be subject to the provisions of this Agreement.
Appears in 17 contracts
Samples: Amended Operating Agreement (Holiday Lifestyle Fund I), Operating Agreement (Cardone Equity Fund IX, LLC), Operating Agreement (HIS Capital Fund III, LLC)
Bankruptcy or Incapacity of a Member. In the event of the bankruptcy or incapacity of a Member, the Company Fund shall not be dissolved, and the Member’s trustee in bankruptcy or other legal representative shall have only the rights of a transferee of the right to receive Company Fund distributions applicable to the Units of such bankrupt or incapacitated Member as provided herein. Any Transfer to or from such trustee in bankruptcy or legal representative shall be subject to the provisions of this Agreement.
Appears in 7 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Operating Agreement, Operating Agreement
Bankruptcy or Incapacity of a Member. In the event of the bankruptcy or incapacity of a Member, the Company shall not be dissolved, and the Member’s trustee in bankruptcy or other legal representative shall have only the rights of a transferee of the right to receive Company distributions applicable to the Units of such bankrupt or incapacitated Member as provided herein. Any Transfer to or from such trustee in bankruptcy or legal representative shall be subject to the provisions of this Agreement.. Cardone Equity Fund V, LLC 28 Operating Agreement
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement (Cardone Equity Fund V, LLC), Operating Agreement (Cardone Equity Fund V, LLC)
Bankruptcy or Incapacity of a Member. In the event of the bankruptcy or incapacity of a Member, the Company shall not be dissolved, and the Member’s trustee in bankruptcy or other legal representative shall have only the rights of a transferee of the right to receive Company distributions applicable to the Units Interests of such bankrupt or incapacitated Member as provided herein. Any Transfer to or from such trustee in bankruptcy or legal representative shall be subject to the provisions of this Agreement.
Appears in 3 contracts
Samples: Operating Agreement (Pf Royalty I LLC), Operating Agreement (Pf Royalty I LLC), Operating Agreement (Pf Royalty I LLC)
Bankruptcy or Incapacity of a Member. In the event of the bankruptcy or incapacity of a Member, the Company shall not be dissolved, and the Member’s trustee in bankruptcy or other legal representative shall have only the rights of a transferee of the right to receive Company distributions applicable to the Units of such bankrupt or incapacitated Member as provided herein. Any Transfer to or from such trustee in bankruptcy or legal representative shall be subject to the provisions of this Agreement.. Cardone Equity Fund VI, LLC 28 Operating Agreement
Appears in 2 contracts
Samples: Operating Agreement (Cardone Equity Fund VI, LLC), Operating Agreement (Cardone Equity Fund VI, LLC)
