Effect of Non-Complying Transfers. Any Transfer of any Interest (or interest therein) in breach of this Section 5.7, and any Transfer that has (or, in the Manager’s judgment, is likely to result in) an Adverse Regulatory Effect, shall be wholly null and void and shall not effectuate the Transfer contemplated thereby. The Company and the relevant Series shall have the right to obtain injunctive relief (in addition to and not in lieu of any other remedies available to either or both of them) in the event of: (i) any breach or threatened breach of this Section 5.7; or (ii) any Transfer that has (or, in the Manager’s judgment, is likely to result in) an Adverse Regulatory Effect. Any Person who Transfers an Interest (or an interest therein) in breach of this Section 5.7 shall reimburse the relevant Series for all costs and expenses reasonably incurred by such Series in enforcing this Section 5.7 with respect to such Transfer.
Appears in 3 contracts
Samples: Operating Agreement (Sow Good Investments, LLC), Operating Agreement (Sow Good Investments, LLC), Operating Agreement (Sow Good Investments, LLC)
Effect of Non-Complying Transfers. Any Transfer of any Interest (or interest therein) in breach of this Section 5.75.4, and any Transfer that has (or, in the ManagerManaging Member’s judgment, is likely to result in) an Adverse Regulatory Effect, shall be wholly null and void and shall not effectuate the Transfer contemplated thereby. The Company and the relevant Series shall have the right to obtain injunctive relief (in addition to and not in lieu of any other remedies available to either or both of them) in the event of: (i) any breach or threatened breach of this Section 5.75.4; or (ii) any Transfer that has (or, in the ManagerManaging Member’s judgment, is likely to result in) an Adverse Regulatory Effect. Any Person who Transfers an Interest (or an interest therein) in breach of this Section 5.7 5.4 shall reimburse the relevant Series Company for all costs and expenses reasonably incurred by such Series the Company in enforcing this Section 5.7 5.4 with respect to such Transfer.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Income Strategies, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)
Effect of Non-Complying Transfers. Any Transfer of any Interest (or interest therein) in breach of this Section 5.75.4, and any Transfer that has (or, in the Manager’s Managing Member's judgment, is likely to result in) an Adverse Regulatory Effect, shall be wholly null and void and shall not effectuate the Transfer contemplated thereby. The Company and the relevant Series shall have the right to obtain injunctive relief (in addition to and not in lieu of any other remedies available to either or both of them) in the event of: (i) any breach or threatened breach of this Section 5.75.4; or (ii) any Transfer that has (or, in the Manager’s Managing Member's judgment, is likely to result in) an Adverse Regulatory Effect. Any Person who Transfers an Interest (or an interest therein) in breach of this Section 5.7 5.4 shall reimburse the relevant Series Company for all costs and expenses reasonably incurred by such Series the Company in enforcing this Section 5.7 5.4 with respect to such Transfer.
Appears in 2 contracts
Samples: Operating Agreement (Secured Real Estate Income Fund II, LLC), Operating Agreement (Secured Real Estate Fund II, LLC)
