Common use of Effect of Transfers Clause in Contracts

Effect of Transfers. (a) Upon any Permitted Transfer, the Assignee of the Interests Transferred shall be entitled to receive the Distributions and allocations of income, gain, loss, deduction, credit or similar items to which the transferring Member would be entitled with respect to such Interests and shall not be entitled to exercise any of the other rights of a Member with respect to the transferring Member’s Interests, including, without limitation, the right to vote, unless and until such Assignee is admitted to the Company as a Substitute Member pursuant to Section 8.5 hereof.

Effect of Transfers. (a) Upon the completion of any Permitted Transfer, the Assignee of the Interests Units Transferred shall be entitled to receive the Distributions and allocations of income, gain, loss, deduction, credit or similar items to which the transferring Member would be entitled with respect to such Interests Units, and shall not be entitled to exercise any of the other rights of a Member with respect to the transferring Member’s InterestsUnits, including, without limitation, including the right to vote, unless and until such Assignee is admitted to the Company as a Substitute Member pursuant to Section 8.5 hereof8.5.

Effect of Transfers. (a) Upon any Permitted Transfer, the ------------------- Assignee of the Interests Units Transferred shall be entitled to receive the Distributions and allocations of income, gain, loss, deduction, credit or similar items to which the transferring Transferring Member would be entitled with respect to such Interests Units, and shall not be entitled to exercise any of the other rights of a Member with respect to the transferring Transferring Member’s Interests's Units, including, without limitation, the right to vote, unless and until such Assignee is admitted to the Company as a Substitute Member pursuant to Section 8.5 9.3 hereof.