Effect on Distributions. Any Member or Holder who Transfers any Units in a Transfer permitted pursuant to this Article 9 in which the transferee was admitted as a new Member will cease to be a Member with respect to the Units so transferred. All Distributions with respect to which the Distribution Date is before the date of a Transfer in accordance with this Article 9 will be made to the transferor Member or Holder, and all Distributions with respect to which the Distribution Date is after the date of such Transfer will be made to the transferee Member or Holder.
Appears in 4 contracts
Samples: Employment Agreement (Simon Worldwide Inc), Employment Agreement (Simon Worldwide Inc), Limited Liability Company Agreement (Simon Worldwide Inc)
