Common use of Effective Date of Assignment Clause in Contracts

Effective Date of Assignment. Any valid Transfer of a Member’s Interest, or part thereof, pursuant to the provisions of this Article 7 shall be effective as of the later of (i) the date of Transfer set forth on the written instrument of Transfer, (ii) the date on which the Company has received the written instrument of Transfer and such other documents as may be required by the Company pursuant to this Agreement and such Transfer has been recorded on the books of the Company, and (iii) the date on which the requirements of this Article 7 have been satisfied. The Company shall, from the effective date of such Transfer, thereafter pay all further distributions on account of the Interest (or part thereof) so assigned to the assignee of such Interest, or part thereof. As between any Member and its assignee, Profits and Losses for the Fiscal Year of the Company in which such assignment occurs shall be apportioned for federal income tax purposes in accordance with any convention permitted under Section 706(d) of the Code and selected by the Board.

Effective Date of Assignment. Any valid Transfer of a Member’s 's Interest, or part thereof, pursuant to the provisions of this Article 7 shall be effective as of the later of (i) the date of Transfer set forth on the written instrument of Transfer, (ii) the date on which the Company has received the written instrument of Transfer and such other documents as may be required by the Company pursuant to this Agreement and such Transfer has been recorded on the books of the Company, and (iii) the date on which the requirements of this Article 7 have been satisfied. The Company shall, from the effective date of such Transfer, thereafter pay all further distributions on account of the Interest (or part thereof) so assigned to the assignee of such Interest, or part thereof. As between any Member and its assignee, Profits and Losses for the Fiscal Year of the Company in which such assignment occurs shall be apportioned for federal income tax purposes in accordance with any convention permitted under Section 706(d) of the Code and selected by the Board.

Effective Date of Assignment. Any valid Transfer assignment of a Member’s Interest, or part thereof, pursuant to the provisions of this Article 7 shall be effective as of the later close of (i) the date of Transfer set forth business on the written instrument day preceding the closing of Transferthe transaction evidencing the assignment; unless all consents have not been obtained, (ii) in which case the effective date shall be on which the Company has received such date all of the written instrument of Transfer and consents to such assignment have been obtained, or such other documents date as may be required by the Company pursuant to this Agreement assigning Member and such Transfer has been recorded on the books a Supermajority Interest of the Company, and (iii) the date on which the requirements of this Article 7 have been satisfiedother Members agree upon. The Company shall, from the effective date of such Transferassignment, thereafter pay all further distributions on account of the Interest (or part thereof) ), so assigned assigned, to the assignee of such Interest, or part thereof. As between any Member and its assignee, Profits and Losses for the Fiscal Year of the Company in which such assignment occurs shall be apportioned for federal income tax purposes in accordance with any convention permitted under Section §706(d) of the Code and selected by the BoardManagers.