Certain Prohibited Transfers. No Member shall transfer all or any part of its Interest if such transfer (i) (either considered alone or in the aggregate with prior transfers by the same Member or any other Members) would result in the termination of the Company for federal income tax purposes; (ii) would result in violation of the Delaware Act or any other applicable Laws; or (iii) would result in a default under or termination of an existing financial agreement to which the Company is a party or acceleration of debt thereunder.
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Samples: Limited Liability Company Agreement (DCP Midstream Partners, LP), Limited Liability Company Agreement (DCP Midstream Partners, LP)
Certain Prohibited Transfers. No Member shall transfer Transfer all or any part of its Interest if such transfer Transfer (i) (either considered alone or in the aggregate with prior transfers Transfers by the same Member or any other MembersMember) would result in the termination of the Company for federal income tax purposes; (ii) would result in a violation of the Delaware Act or any other applicable Laws; or (iii) would result in a default under Default hereunder or termination of an existing financial agreement to which the Company is a party or in the acceleration of debt thereunder.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Atlas Pipeline Partners Lp), Limited Liability Company Agreement (Atlas Pipeline Holdings, L.P.)
Certain Prohibited Transfers. No Member shall transfer all or any part of its Interest if such transfer (i) (either considered alone or in the aggregate with prior transfers by the same Member or any other Members) would result in the termination of the Company for federal income tax purposes; (ii) would result in a violation of the Delaware Act or any other applicable Laws; or (iii) would result in a default under Default hereunder or termination of an existing financial agreement to which the Company is a party or acceleration of debt thereunder.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Williams Partners L.P.), Limited Liability Company Agreement (Williams Partners L.P.)
Certain Prohibited Transfers. No Member shall transfer all or any part of its Interest if such transfer (i) (either considered alone or in the aggregate with prior transfers by the same Member or any other Members) would result in the termination of the Company for federal income tax purposes; (ii) would result in violation of the Delaware Act or any other applicable Laws; or (iii) would result in a default Default under or termination of an existing financial agreement to which the Company is a party or acceleration of debt thereunder.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Williams Partners L.P.)
Certain Prohibited Transfers. No Member shall transfer all or any part of its Member Interest if such transfer (i) (either considered alone or in the aggregate with prior transfers by the same Member or any other MembersMember) would result in the termination of the Company for U.S. federal income tax purposes; or (ii) would result in a violation of the Delaware Act or any other applicable Laws; or (iii) would result in a default under or termination of an existing financial agreement to which the Company is a party or acceleration of debt thereunder.
Appears in 1 contract
