Certain Special Transfer Rights. At such time prior to the Registration Date as is reasonably necessary in order to obtain a registration for MEMX LLC with the SEC as a national securities exchange, and thereafter commencing on the Registration Date and for so long as the Company shall Control, directly or indirectly, MEMX LLC, if a Member which is, or any Affiliate of which is, an Exchange Member, either alone or together with its Related Persons, owns, directly or indirectly, of record or beneficially, Units constituting more than twenty percent (20%) of any class of Units, such Member may Transfer the number of Units which account for the excess over such twenty percent (20%) ownership limitation to one or more Members, in which case Sections 10.1(a)(i) and 10.3 shall not apply.
Appears in 6 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement
