Common use of Conditions for Permissible Voluntary Transfer; Substitution Clause in Contracts

Conditions for Permissible Voluntary Transfer; Substitution. A permitted transfer of any Member’s Interest shall only be granted as to the Member’s Economic Interest unless the Manager accepts a permitted transferee (Transferee) as a Substitute Member. A permitted Transferee shall become a Substitute Member only on satisfaction of all of the following conditions: · Filing of a duly executed and acknowledged written instrument of assignment in a form approved by the Manager specifying the Member’s Percentage Interest being assigned and setting forth the intention of the assignor that the permitted assignee succeed to the assignor’s Economic Interest (or the portion thereof) and/or its Interest as a Member; · Execution, acknowledgment and delivery by the assignor and assignee of any other instruments reasonably required by the Manager including an agreement of the permitted assignee to be bound by the provisions of this Agreement; and · The Manager’s approval of the Transferee’s or assignee’s admission to the Company as a Substitute Member and concurrent and complete Disassociation of all of the Membership and Economic Interests of the Transferor.

Conditions for Permissible Voluntary Transfer; Substitution. A permitted transfer of any Member’s Members Interest shall only be granted as to the Member’s Members Economic Interest unless the Manager accepts a permitted transferee (Transferee) as a Substitute Member. A permitted Transferee shall become a Substitute Member only on satisfaction of all of the following conditions: · * Filing of a duly executed and acknowledged written instrument of assignment in a form approved by the Manager specifying the Member’s Members Percentage Interest being assigned and setting forth for the intention of the assignor that the permitted assignee succeed to the assignor’s assignors Economic Interest Interests (or the portion thereof) and/or its Interest as a Member; · * Execution, acknowledgment acknowledgement and delivery by the assignor and assignee of any other instruments reasonably required by the Manager including an agreement of the permitted assignee to be bound by the provisions of this Agreement; and · * The Manager’s Managers approval of the Transferee’s Transferees or assignee’s assignees admission to the Company as a Substitute Member and concurrent and complete Disassociation of all of the Membership and Economic Interests of the Transferor.

Conditions for Permissible Voluntary Transfer; Substitution. A permitted transfer of any Member’s Members Interest shall only be granted as to the Member’s Members Economic Interest unless the Manager accepts a permitted transferee (Transferee) as a Substitute Member. A permitted Transferee shall become a Substitute Member only on satisfaction of all of the following conditions: · * Filing of a duly executed and acknowledged written instrument of assignment in a form approved by the Manager Manger specifying the Member’s Members Percentage Interest being assigned and setting forth for the intention of the assignor that the permitted assignee succeed to the assignor’s assignors Economic Interest Interests (or the portion thereof) and/or its Interest as a Member; · * Execution, acknowledgment acknowledgement and delivery by the assignor and assignee of any other instruments reasonably required by the Manager including an agreement of the permitted assignee to be bound by the provisions of this Agreement; and · * The Manager’s Managers approval of the Transferee’s Transferees or assignee’s assignees admission to the Company as a Substitute Member and concurrent and complete Disassociation of all of the Membership and Economic Interests of the Transferor.

Conditions for Permissible Voluntary Transfer; Substitution. A permitted transfer of any Member’s Interest shall only be granted as to the Member’s Economic Interest unless the Manager accepts a permitted transferee (Transferee) as a Substitute Member. A permitted Transferee shall become a Substitute Member only on satisfaction of all of the following conditions: Tulsa Real Estate Fund, LLC 25 Company Agreement · Filing of a duly executed and acknowledged written instrument of assignment in a form approved by the Manager specifying the Member’s Percentage Interest being assigned and setting forth the intention of the assignor that the permitted assignee succeed to the assignor’s Economic Interest (or the portion thereof) and/or its Interest as a Member; · Execution, acknowledgment and delivery by the assignor and assignee of any other instruments reasonably required by the Manager including an agreement of the permitted assignee to be bound by the provisions of this Agreement; and · The Manager’s approval of the Transferee’s or assignee’s admission to the Company as a Substitute Member and concurrent and complete Disassociation of all of the Membership and Economic Interests of the Transferor.

Conditions for Permissible Voluntary Transfer; Substitution. A permitted transfer of any Member’s Interest shall only be granted as to the Member’s Economic Interest unless the Manager accepts a permitted transferee (Transferee) as a Substitute Member. A permitted Transferee shall become a Substitute Member only on satisfaction of all of the following conditions: Paradyme Equities, LLC Company Agreement · Filing of a duly executed and acknowledged written instrument of assignment in a form approved by the Manager specifying the Member’s Percentage Interest being assigned and setting forth the intention of the assignor that the permitted assignee succeed to the assignor’s Economic Interest (or the portion thereof) and/or its Interest as a Member; · Execution, acknowledgment and delivery by the assignor and assignee of any other instruments reasonably required by the Manager including an agreement of the permitted assignee to be bound by the provisions of this Agreement; and · The Manager’s approval of the Transferee’s or assignee’s admission to the Company as a Substitute Member and concurrent and complete Disassociation of all of the Membership and Economic Interests of the Transferor.