Effect of Sale or Exchange. In the event of a permitted sale, exchange, or other assignment of a Membership Interest, the capital account of the assignor shall become the capital account of the assignee to the extent it relates to the assigned Membership Interest.
Appears in 13 contracts
Samples: Limited Liability Company Agreement (HC Government Realty Trust, Inc.), Limited Liability Company Agreement (Tesoro High Plains Pipeline Co LLC), Limited Liability Company Agreement (Tesoro High Plains Pipeline Co LLC)
Effect of Sale or Exchange. In the event of a permitted sale, exchange, exchange or other assignment of a Membership InterestInterest in the Company, the capital account Capital Account of the assignor shall become the capital account Capital Account of the assignee to the extent it relates to the assigned Membership Interest.
Appears in 2 contracts
Samples: Operating Agreement (Colonial Downs, LLC), Operating Agreement (Colonial Downs, LLC)
Effect of Sale or Exchange. In the event of a permitted sale, exchange, or other assignment of a Membership Interest, the capital account of the assignor shall become the capital account of the assignee to the extent it relates to the assigned Membership Interest.. 5.3
Appears in 1 contract
Samples: Operating Agreement (Tesoro High Plains Pipeline Co LLC)
