Common use of Cooperation of Administrative Member Clause in Contracts

Cooperation of Administrative Member. In the event of any proposed sale, assignment or other transfer of all or a portion of the Properties or a transfer of an interest in any Member or a Transfer of any Member’s Interest in accordance with the terms hereof, the Administrative Member shall, upon reasonable notice and during business hours, (a) make available to the prospective transferee at reasonable hours all books of account, leases, and all other agreements related to the Venture, each Subsidiary and each Property and to the management thereof at the request and expense of the requesting Member, or copies thereof; and (b) cause the management personnel involved directly or indirectly in the affairs of the Venture to reasonably cooperate (taking into account general operational responsibilities and constraints) with the requesting Member and its proposed transferee or designees of either of them and furnish information in their possession as reasonably requested by such persons as to the status of the affairs of the Venture.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (NorthStar Healthcare Income, Inc.), Limited Liability Company Agreement (Northstar Realty Finance Corp.)

AutoNDA by SimpleDocs

Cooperation of Administrative Member. In the event of any proposed sale, assignment or other transfer of all or a portion of the Properties Facilities or a transfer of an interest in any Member or a Transfer of any Member’s Interest in accordance with the terms hereof, the Administrative Member shall, upon reasonable notice and during business hoursnotice, (a) make available to the prospective transferee at reasonable hours all books of account, correspondence, leases, and all other agreements information related to the Venture, each Subsidiary and each Property Facility and to the management thereof at the request and expense of the requesting Member, or copies thereof; and (b) cause the management personnel involved directly or indirectly in the affairs of the Venture to reasonably cooperate (taking into account general operational responsibilities and constraints) fully with the requesting Member and its proposed transferee or designees of either of them and furnish information in their possession as reasonably requested by such persons as to the status of the affairs of the Venture.

Appears in 1 contract

Samples: Limited Liability Company Agreement (NorthStar Healthcare Income, Inc.)

AutoNDA by SimpleDocs

Cooperation of Administrative Member. In the event of any proposed sale, assignment or other transfer of all or a portion of the Properties or a transfer of an interest in any Member or a Transfer of any Member’s Interest in accordance with the terms hereof, the Administrative Member shall, upon reasonable notice and during business hoursnotice, (a) make available to the prospective transferee at reasonable hours all books of account, correspondence, leases, and all other agreements information related to the Venture, each Subsidiary and each Property and to the management thereof at the request and expense of the requesting Member, or copies thereof; and (b) cause the management personnel involved directly or indirectly in the affairs of the Venture to reasonably cooperate (taking into account general operational responsibilities and constraints) fully with the requesting Member and its proposed transferee or designees of either of them and furnish information in their possession as reasonably requested by such persons as to the status of the affairs of the Venture.

Appears in 1 contract

Samples: Limited Liability Company Agreement (NorthStar Healthcare Income, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.