Common use of BMDC Permitted Transfers Clause in Contracts

BMDC Permitted Transfers. Subject to Section 7.2, BMDC at any time without the consent of Manager may Transfer all or any portion of its Interest to a BMDC Affiliate, provided that (i) BMDC notifies the Xxxxx Member in writing of such Transfer within ten (10) business days of the Transfer, (ii) such Transfer shall not violate any of the terms of any financing documents or other obligations of the Company approved by BMDC, (iii) the transferee must assume all of the obligations of BMDC thereafter accruing with respect to such interest Transferred arising hereunder and under all agreements given by BMDC to third parties, to the extent of the interest Transferred, and (iv) such Affiliate shall have sufficient net worth, as reasonably determined by the Xxxxx Member, to fulfill the obligations of BMDC under this Agreement to the extent of the interest so Transferred.