Dealing with Third Parties. Unless admitted to the Company as a Member, as provided in this Agreement, no Person will be considered a Member. The Company and the Manager need deal only with Persons admitted as Members. The Company and the Manager will not be required to deal with any other Person (other than with respect to distributions to assignees pursuant to assignments in compliance with Article VI) merely because of an assignment or transfer of any Interest( to that Person whether by reason of the Incapacity of a Member or otherwise; provided, however, that any Distribution by the Company to the Person shown on the Company's records as a Member or to its legal representatives, or to the assignee of the right to receive the Company's Distributions as provided in this Agreement, will relieve the Company and the Manager of all liability to any other Person who may be interested in that Distribution by reason of any other assignment by the Member or by reason of its Incapacity, or for any other reason.
Appears in 6 contracts
Samples: Limited Liability Company Operating Agreement, Operating Agreement, Limited Liability Company Agreement
Dealing with Third Parties. Unless admitted to the Company as a Member, as provided in this Agreement, no Person will shall be considered a Member. The Company and the Manager need deal only with Persons so admitted as Members. The Company and the Manager will shall not be required to deal with any other Person (other than with respect to distributions to assignees pursuant to assignments in compliance with Article VI) merely because of an assignment or transfer of any Interest( Interest(s) to that such Person whether by reason of the Incapacity of a Member or otherwise; provided, however, that any Distribution distribution by the Company to the Person shown on the Company's ’s records as a Member or to its legal representatives, or to the assignee of the right to receive the Company's Distributions ’s distributions as provided in this Agreementherein, will shall relieve the Company and the Manager of all liability to any other Person who may be interested in that Distribution such distribution by reason of any other assignment by the Member or by reason of its Incapacity, or for any other reason.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Dealing with Third Parties. Unless admitted to the Company as a Member, as provided in this Agreement, no Person will be considered a Member. The Company and the Manager need deal only with Persons admitted as Members. The Company and the Manager will not be required to deal with any other Person (other than with respect to distributions to assignees pursuant to assignments in compliance with Article VI) merely because of an assignment or transfer of any Interest( Interest (to that Person whether by reason of the Incapacity of a Member or otherwise; provided, however, that any Distribution by the Company to the Person shown on the Company's ’s records as a Member or to its legal representatives, or to the assignee of the right to receive the Company's ’s Distributions as provided in this Agreement, will relieve the Company and the Manager of all liability to any other Person who may be interested in that Distribution by reason of any other assignment by the Member or by reason of its Incapacity, or for any other reason.
Appears in 1 contract
Samples: Individual Series Limited Liability Company Agreement (Freeport Holdings Series LLC)
Dealing with Third Parties. Unless admitted to the Company as a Class A Member, as provided in this Agreement, no Person will shall be considered a Class A Member. The Company and the Manager need deal only with Persons so admitted as Class A Members. The Company and the Manager will shall not be required to deal with any other Person (other than with respect to distributions to assignees pursuant to assignments in compliance with Article VI) merely because of an assignment or transfer of any Interest( Interest(s) to that such Person whether by reason of the Incapacity of a Member or otherwise; provided, however, that any Distribution distribution by the Company to the Person shown on the Company's ’s records as a Member or to its legal representatives, or to the assignee of the right to receive the Company's Distributions ’s distributions as provided in this Agreementherein, will shall relieve the Company and the Manager of all liability to any other Person who may be interested in that Distribution such distribution by reason of any other assignment by the Member or by reason of its Incapacity, or for any other reason.
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