Effect of Improper Transfer. If a transfer or attempted transfer --------------------------- violates any provision of this Agreement or if the transferor, after the transfer, reacquires all or any portion of the transferred Shares, such transfers or attempted transfers shall be null and void, and the Shares transferred or attempted to be transferred shall remain subject to this Agreement as if no transfer had been made.
Effect of Improper Transfer. Any attempted transfer of an Interest or the admission of an Additional Member in violation of this Article is null and void ab initio. No such transfer or admission may be recorded on the Company’s books and the purported transferee or Member in any such transfer will not be treated (and, in the case of a transfer, the purported transferor will continue to be treated) as the owner of such Interest for all purposes of this Agreement.
Effect of Improper Transfer. Any attempted transfer of an Interest or the admission of an Additional Member in violation of this Article is null and void ab initio. No such transfer or admission may be recorded on the LLC’s books and the purported transferee or Member in any such transfer will not be treated (and, in the case of a transfer, the purported transferor will continue to be treated) as the owner of such Interest for all purposes of this Agreement. If the ownership of Interest is in doubt, or if there is reasonable doubt as to who may receive a distribution attributable to an Interest, the Manager may accumulate the amounts to be distributed until this issue is finally determined and resolved. The Manager shall credit any accumulated amounts to the Capital Account associated with the Interests.
Effect of Improper Transfer. Any attempted transfer of an Interest or the admission of an Additional Investor in violation of this Article is null and void ab initio. No such transfer or admission may be recorded on the Company’s books and the purported transferee or Investor in any such transfer will not be treated (and, in the case of a transfer, the purported transferor will continue to be treated) as the owner of such Interest for all purposes of this Agreement. If the ownership of Interest(s) is in doubt, or if there is reasonable doubt as to who may receive a distribution attributable to such Interest(s), the Managers may accumulate the amounts to be distributed until this issue is finally determined and resolved.
