Effect of Permitted Transfers. After the effective date of any Transfer of any part of a Membership Interest in accordance with this Agreement, the Membership Interest so Transferred shall continue to be subject to the terms, provisions, and conditions of this Agreement and any further Transfers shall be required to comply with all of the terms, provisions, and conditions of this Agreement. Any transferee of all or any portion of a Membership Interest shall take subject to the restrictions on Transfer imposed by this Agreement. Notwithstanding anything to the contrary in this Section 7.4, any part of a Membership Interest Transferred to the Company shall be deemed cancelled.
Effect of Permitted Transfers. After the effective date of any Transfer of a Membership Interest in accordance with this Agreement, the Membership Interest so Transferred shall continue to be subject to the terms, provisions, and conditions of this Agreement and any further Transfers shall be required to comply with all of the terms, provisions, and conditions of this Agreement. Any transferee of all or any portion of a Membership Interest shall take subject to the restrictions on transfer imposed by this Agreement.
Effect of Permitted Transfers. Without execution of this Agreement, upon the Transfer of a Member Interest to a Transferee as permitted by this Agreement, which Transfer shall be deemed to constitute a request by such Person that the books and records of the Company reflect such Person's admission as a Member, the Managing Member shall record such Transfer in the Register as contemplated by Section 2.12 and such Person shall be admitted to the Company as a Member and shall become bound by this Agreement upon such recording. No Member shall be permitted to resign as a Member unless such resignation is in connection with a Transfer permitted under this Article X.
Effect of Permitted Transfers. No sale, assignment, pledge or other transfer creating a security interest pursuant to Section 11 shall give rise to a right in any Partner or Partners to dissolve the Partnership. Except as provided in this Section 11.4, no such sale, assignment, pledge or other transfer shall give rise to a right in any transferee to become a Partner in the Partnership.
11.4.1 Upon any transfer permitted by Section 11.1.1 or 11.3.1, the transferee shall be automatically admitted as a Partner in substitution for, or in the case of a partial transfer, in addition to, the transferor Partner, upon execution of a counterpart of this Agreement. In the event of such a transfer, the Percentage Interests of the transferee and transferor Partners shall be modified in accordance with Section 5.1.
Effect of Permitted Transfers. When a Transfer of all of a Member’s Membership Interest that is permitted by Section 4.3.2 has been consummated in compliance with the requirements of
Effect of Permitted Transfers. Upon any transfer of a Joint Venture Interest in accordance with Sections 10.2 and 10.3, the transferee shall become a substitute Joint Venturer and shall thereafter be treated as a Joint Venturer for all purposes of this Agreement. No transfer pursuant to this Article X shall give rise to a right in any Joint Venturer to dissolve the Joint Venture. Except as provided in Sections 10.2 and 10.3, no assignment or other transfer shall give rise to a right in any transferee to be substituted as a joint venturer in the Joint Venture, unless agreed to by all the Joint Venturers.
Effect of Permitted Transfers. After the effective date of any Transfer of any part of a Membership Interest in accordance with this Agreement, the Membership Interest so
Effect of Permitted Transfers. No assignment, pledge or other transfer pursuant to Section 7.02 hereof shall give rise to the right in any Member to dissolve the Company. Section 7.05.
Effect of Permitted Transfers. After the effective date of any Permitted Transfer of all or a portion of a Member's Units in accordance with this Agreement, the Units so transferred shall continue to be subject to the terms, provisions, and conditions of this Agreement and any further Transfers shall be required to comply with all of the terms, provisions, and conditions of this Agreement. Any transferee of Units in a Permitted Transfer shall take such Units subject to the restrictions on Transfer imposed by this Agreement.
Effect of Permitted Transfers. No assignment, pledge or other transfer pursuant to Section 10 shall give rise to a right in any Partner or Partners to dissolve the Partnership. Except as provided in Section 10.3.1, no assignment, pledge or other transfer shall give rise to a right in any transferee to become a Partner in the Partnership, unless admitted pursuant to Section 11 or agreed to by all the Partners.
